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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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Wednesday, 07 December 22
INDIA'S STEEL MINISTRY SEEKS IMPORT TAX WAIVER FOR COKING COAL - SOURCES REUTERS REPORTED
India’s steel ministry has asked the finance ministry for a waiver of import tax on coking coal among a slew of raw materials, as it scramble ...
Tuesday, 06 December 22
INDIA'S COAL PRODUCTION RISES 17% IN APR-NOV PERIOD - PTI
The country’s coal production increased 17 per cent to 524.20 million tonnes in the April-November period of the ongoing fiscal.
...
Tuesday, 06 December 22
INDONESIA AIMS TO STARTS COLLECTING COAL LEVY IN Q1 2023 - MINISTER, REUTERS REPORTED
Indonesia aims to establish a coal fund agency and start collecting a coal levy in the first quarter next year, to help ensure supply security for ...
Saturday, 03 December 22
COMPLEX RUSSIAN PRICE CAP MAKES MARITIME VISIBILITY A MUST - WINDWARD
Many commentators and analysts are speculating about the potential impact the Russian seaborne oil price cap will have on organizations and entitie ...
Friday, 02 December 22
INDONESIAN COAL PRICE REFERENCE PLUNGE TOWARD US$ 281.48 A TON AS DEMAND DROPS WORLDWIDE
COALspot.com: The cost of coal is falling so fast that it is beginning to put real money back in the pockets of end-users.
Indonesia ...
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- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- The University of Queensland
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Planning Commission, India
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