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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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- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
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- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Parliament of New Zealand
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- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
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- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Minerals Council of Australia
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Star Paper Mills Limited - India
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
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- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
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- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
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- Energy Development Corp, Philippines
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- Planning Commission, India
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- Economic Council, Georgia
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- Simpson Spence & Young - Indonesia
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- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
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- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
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- Australian Commodity Traders Exchange
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- Romanian Commodities Exchange
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- White Energy Company Limited
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
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- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
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- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
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- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
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- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
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- Africa Commodities Group - South Africa
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- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
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