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