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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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- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
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- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Australian Coal Association
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Planning Commission, India
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- The University of Queensland
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
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- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
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