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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, 06 September 24
GLOBAL SEABORNE LNG TRADE HAS CONTINUED TO INCREASE LAST YEAR - BANCHERO COSTA
Global seaborne LNG trade has continued to increase last year, helped also by the events in Ukraine which forced Europe to diversify away from Russ ...
Wednesday, 28 August 24
SEABORNE COAL IMPORTS INTO INDIA INCREASED BY +9.9% Y-O-Y TO 146.6 MLN T - BANCHERO COSTA
Global coal trade has really picked up pace over the past year, and is now fully back to pre-Covid levels said Banchero Costa Research in its lates ...
Tuesday, 06 August 24
EXERCISE CAUTION WITH AMMONIA SWITCH - BALTIC EXCHANGE
A new study from the Massachusetts Institute of Technology (MIT) has thrown a spanner into the plan to transition ships from diesel fuel to ammonia ...
Friday, 02 August 24
ENERGY MARKET DEVELOPMENTS: COAL AND NATURAL GAS PRICES REACH RECORD HIGHS - WORLD BANK
The recent surge in natural gas and coal prices has been so swift that the main benchmarks were roughly three times higher in 2022Q2 compared to a ...
Friday, 02 August 24
COAL MARKET DEVELOPMENTS: FALLING PRICES AMID RECORD-HIGH OUTPUT - WORLD BANK
Coal prices inched up in May (m/m) following an 8 percent decline in 2024Q1. The Australian and South African benchmarks have plummeted more ...
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- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- The University of Queensland
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
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- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- White Energy Company Limited
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
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- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
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