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