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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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Friday, 25 November 22
APAC THERMAL COAL PRICES CORRECT FROM RECORD HIGH - FITCH RATINGS
Prices of Newcastle 6,000kcal/kg coal have corrected following falling European gas and coal prices, and more supply from Australia could help miti ...
Thursday, 24 November 22
VIETNAM BOOSTS COAL USE PLAN FOR 2030 AS G7 CLIMATE OFFER STALLS - REUTERS
Vietnam has increased its coal power target for 2030 under a revised draft energy plan, government documents seen by Reuters show, while renewables ...
Tuesday, 22 November 22
THE GENCON 2022 CHARTERPARTY - GARD
KNOWLEDGE TO ELEVATE
BIMCO has published a revamped version of the popular GENCON charterparty. Our author, Helena Biggs, was a member of the ...
Tuesday, 22 November 22
INDIA POWER BINGES ON COAL, OUTPACES ASIA - REUTERS
India’s coal-fired power output has increased much faster than any other country in the Asia Pacific since Russia’s invasion of Ukraine ...
Friday, 18 November 22
REALITIES OF LOI LIABILITIES - BALTIC EXCHANGE
KNOWLEDGE TO ELEVATE
The cargo misdelivery claim in Trafigura Maritime Logistics Pte Ltd v. Clearlake Shipping Pte Ltd (Miracle Hope) [2022] E ...
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- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- Australian Coal Association
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Parliament of New Zealand
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
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