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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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- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Australian Coal Association
- The University of Queensland
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- Deloitte Consulting - India
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- Rio Tinto Coal - Australia
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Ministry of Mines - Canada
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- Indian Oil Corporation Limited
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- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
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- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
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- Minerals Council of Australia
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- The State Trading Corporation of India Ltd
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- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
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- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- IEA Clean Coal Centre - UK
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- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
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- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
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