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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, 15 December 22
MARKET INSIGHT - INTERMODAL
While observing the ship repair market very close to the end of the year, we are confident that shipyards worldwide are entering a new era. The nex ...
Tuesday, 13 December 22
STRONG COAL PRICES SUPPORT ROBUST EARNINGS AT INDONESIAN COAL MINERS - FITCH RATINGS
Fitch Ratings expects cash flow generation at Indonesian coal miners to remain strong in 2023, based on its forecast for coal prices to remain high ...
Tuesday, 13 December 22
BIMCO CII CLAUSE FINALLY RELEASED: DOES IT MAKE ANY SENSE OF CCI? - WFW
WHAT IS CII?
The new International Maritime Organisation’s (“IMO’s”) Carbon Intensity Indicator (“CII”) cer ...
Tuesday, 13 December 22
COAL BASE RAMPS UP ENERGY SUPPLY FOR WINTER NEEDS - XINHUA
Inner Mongolia Autonomous Region, China’s leading coal production base, has kicked its production into high gear to meet heating needs as col ...
Tuesday, 13 December 22
AUSTRALIA TO CAP PRICES OF COAL, GAS TO DRIVE DOWN ENERGY BILLS - REUTERS
Australia will cap coal and gas prices for a year in a bid to shave utility bills for households and businesses hit by soaring costs because of the ...
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- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
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