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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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Thursday, 22 December 22
CHINA TIGHTENS VERIFICATION OF SHIPS’ ENERGY CONSUMPTION DATA - GARD
From 22 December 2022, ships trading to Chinese ports must record their energy consumption data in accordance with the requirements of their Ship E ...
Thursday, 22 December 22
AN OVERVIEW OF THE LNG MARKET - VESSELSVALUE
LNG values have continued to strengthen, spurred by skyrocketing earnings that have surpassed last year’s record breaking peaks. In November, ...
Thursday, 22 December 22
COKING COAL SLUMPS AS TALKS ON AUSTRALIA-CHINA TRADE RIFT LOOM - REUTERS
Chinese coking coal futures dropped more than 3 per cent on Tuesday (Dec 20), extending losses, as supply of the steelmaking input might increase i ...
Thursday, 22 December 22
COAL AND GAS PRICE CAPS MAY COMPOUND POLITICAL RISK FOR AUSTRALIAN CORPORATES - FITCH RATINGS
Australia’s introduction of temporary price caps on domestic sales of gas and coal used for electricity generation will probably have limited ...
Monday, 19 December 22
ENERGY CRISIS FUELS COAL COMEBACK IN GERMANY - REUTERS
Coal has made a comeback in Germany this year, as Europe’s largest economy turns to the dirty fuel to power it through an energy crisis.
...
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- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Sical Logistics Limited - India
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
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