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Friday, 06 September 24
REBOUND IN OIL DEMAND COULD LIFT MARKET IN LATTER HALF OF 2024 - BIMCO
Supply/demand
Based on a strong second half demand, the supply/balance is forecast to strengthen in 2024 but weaken slightly in 2025 as newbuilding deliveries increase, BIMCO said in its latest report.
According to Niels Rasmussen, Chief Shipping Analyst of BIMCO, driven by increasing sailing distances product tanker demand is also expected to grow faster than supply in 2024 but slower in 2025 as ships return to normal routings. A tightening supply/demand balance should result in increases in rates and prices in both market in 2024 but could weaken in 2025, especially in the product tanker sector.
Demand
The report further noted that, the IMF estimates that the global economy will grow 3.2% in 2024 and 3.3% in 2025. Growth is slowing in key countries such as the US, China and India. The IEA estimates that crude supply will grow 0.3 mbpd in 2024 and 1.5 mbpd in 2025. Mainly US, Brazil and Guyana will increase supply.
The IEA expects, the report says, an oil demand increase of 1.0 mbpd in both 2024 and 2025. Demand continues to grow mainly in Asia while demand in OECD countries has stagnated.
We have assumed that Red Sea rerouting may last throughout 2024. Longer sailing distances are therefore estimated to drive 100% of 2024 demand increases, Niels Rasmussen, Chief Shipping Analyst of BIMCO says in its report.
Supply
commenting on supply, the report says, the crude tanker fleet is estimated to grow 0.5% in 2024 and 1.2% in 2025 as the order book remains small.
Product tanker fleet growth is expected to be 1.6% in 2024 but increase to 4.8% in 2025 as deliveries of ships contracted in 2023 begin.
predicted weakening of product tanker fundamentals are expected to lower sailing speed in 2025. In 2024, sailing speed will not impact supply growth, the latest report of BIMCO says.
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Monday, 02 January 23
CHINA’S COAL CONSUMPTION TO PEAK BY 2035: REPORT - REUTERS
China’s primary energy consumption is likely to peak at nearly 6.03 billion tonnes of standard coal between 2030 and 2035, refining giant Chi ...
Thursday, 29 December 22
INDIA'S COAL DEMAND LIKELY TO PEAK BETWEEN 2030-2035: MINISTER - ANI
The demand for coal in India will continue and is likely to peak between 2030-2035, Union Minister of Coal, Mines, and Parliamentary Affairs Pralha ...
Thursday, 29 December 22
RIO TINTO AND PARTNERS COULD RECEIVE AS MUCH AS $450M IN GOVERNMENT COMPENSATION FOR COAL PRICE CAP - THE GUARDIAN
Compensation payments for the Gladstone power plant remain the sticking point in the federal government’s coal price cap compensation negotia ...
Wednesday, 28 December 22
MARKET INSIGHT - INTERMODAL
The United Nations Conference on Trade and Development (UNCTAD) published a Global Trade Update on December 13th highlighting that global trade wou ...
Thursday, 22 December 22
RUSSIAN OIL EXPORTS CRATER BY 54% IN THE FIRST FULL WEEK OF THE EU'S EMBARGO AMID A SHORTAGE OF TANKERS WILLING TO CARRY CARGOES - BUSINESS INSIDER
Since the European Union imposed its seaborne crude sanctions, Russian oil exports have tumbled by more than half, according to data compiled by Bl ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Thai Mozambique Logistica
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Australian Coal Association
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
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