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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, 30 November 22
INDONESIA’S BUMI RESOURCES TARGETS 2023 COAL OUTPUT OF 80 MLN TONNES - REUTERS
Indonesian coal miner PT Bumi Resources Tbk BUMI.JKis eyeing a 10% increase in output to 80 million tonnes next year amid expectations for more fav ...
Wednesday, 30 November 22
TANKERS: LONGER HAULS TO SUPPORT CONTINUED STRENGTH - BIMCO
Highlights
A rebound in the dirty tanker trade has led the Baltic Exchange Dirty Index (BDTI) to increase by 64% since our last report from mid ...
Wednesday, 30 November 22
MARKET INSIGHT - INTERMODAL
Shipping, although a conservative and innovation adverse industry, is currently in a transition period of digital transformation. According to a su ...
Tuesday, 29 November 22
INDIA TO RECEIVE FIRST LNG CARGO FROM INDONESIA’S TANGGUH LNG - REUTERS
India will receive its first cargo from Indonesia’s Tangguh liquefied natural gas (LNG) plant at the Dahej terminal on Monday, according to a ...
Tuesday, 29 November 22
SEABORNE COAL FLOWS IN 2022 - SIGNAL
This year is crucial for the energy mix in European countries, as the EU has imposed new sanctions on Russia. It is important to emphasize that the ...
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- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Coalindo Energy - Indonesia
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Aditya Birla Group - India
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