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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, 14 June 24
NEXTDECADE, SAUDI ARAMCO SIGN 20-YEAR LNG SUPPLY DEAL - REUTERS
U.S. liquefied natural gas (LNG) provider NextDecade has signed a non-binding agreement with Saudi Aramco 2222.SE to supply 1.2 million tonnes per ...
Friday, 14 June 24
NEWBUILDING PRICES CLIMB 3% TO HIGHEST LEVEL IN 16 YEARS - NIELS RASMUSSEN
“Since the start of the year, newbuilding prices have risen 3% to their highest level since 2008. Compared to their most recent low in late 2 ...
Friday, 14 June 24
INDIA TARGETS HIGHER DOMESTIC COAL PRODUCTION, REDUCED IMPORTS: GOVT - REUTERS
India wants to reduce coal imports and increase domestic production, federal coal minister G. Kishan Reddy said on Thursday.
The cou ...
Thursday, 13 June 24
US LNG TO ASIA FOR POWER GENERATION EXPECTED TO CUT EMISSIONS VERSUS COAL - RYSTAD ENERGY
The value-chain emissions of liquified natural gas (LNG) are lower on average than for coal-fired power generation, even when the fuel is shipp ...
Wednesday, 12 June 24
CHINA ACCOUNTS FOR 16.3% OF AUSTRALIA'S COAL EXPORTS, FOLLOWED BY INDIA 14.4% - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels says Banchero Costa in its latest report.
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- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
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