We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Tuesday, 08 December 20
MARKET ANALYSIS - ALLIED SHIPPING
 It is now undisputed that oil consumption for 2020 will post a considerable drop, as demand for several petroleum products has plummeted since the start of the pandemic. According to EIA data, oil consumption will reach this year 92.91 million bpd, almost 8.5% lower compared to last year and at its lowest point since 2013,said Allied research in its latest report.
At the same time, world oil production is estimated to have fallen to 94.42 million bpd, leaving a surplus in the market of approximately 1.5 million bpd. This imbalance between demand and supply in the market has resulted in a profound drop in freight rates for tankers as of late, with the low oil prices though curbing somewhat the decline as key importers, such as China, look to build up stock at favorable pricing terms.
According to Allied, for next year, all estimates are pointing to a strong rebound, with the latest data forecasting that global demand will climb to 98.80 million bpd (a 6.3% growth). The end of the pandemic will undoubtedly revive global consumption, with demand for some oil products such as jet fuel, diesel and gasoline boosted, as people begin travelling and going back to business as usual.
This concurs with refining throughput data, with the global figure for 2019 standing at 81.9 million bpd, while in 2020 this figure fell to around 74.3 million bpd. A gradual recovery for next year is expected to regain only around 4.9 million bpd of this lost output. Two of the most important petroleum products are motor gasoline and diesel, where we witnessed a major decline this year. In particular, motor gasoline consumption in the US is estimated to have dropped to its lowest point since 1997, reaching 8.14 million bpd, while distillate fuel oil consumption also dropped by a record rate of 8.3%. A very impressive fact considering that the number of registered motor vehicles in the US increased by around 30% since then.
These figures all point to the impact of the pandemic on vehicle movements, as road travelling was minimized. However, it is also highlighting the structural shift from gasoline/diesel engines to electrical vehicles, with the latter having increased to 727,000 vehicles in 2019, a rise of 165% since 2010. This is reflected on the consumption data, as the average y-o-y growth during the period 2000 -2010 for gasoline was 0.6%, while the respective figure for 2010-2020 is estimated at -0.9%. This trend is also being witnessed in China, where the average y-o-y growth rate has declined about 1% for gasoline and 5.5% for distillate fuel oil this decade, with the drop being particularly evident since 2015. Identically, the total demand for gasoline in the EU has fallen by 18.7% between 2010 and 2019 and diesel/gasoil volumes by 1%. Moving on to jet fuel, the annual drop this year is estimated to also be at record levels. Here, we have seen a decrease of approximately 38% in the US for this year, with consumption reaching historical lows. Estimates for next year are for a rise back to 1.56 million bpd, though still below any recent figures. However, consumption hare has been much more resilient, as demand for air travel has increased massively with alternative fuels being minimal so far. Nevertheless, it is only a matter of time before measures for the decarbonization of the aviation industry start taking effect.
In the following years, the necessity for close assessment of demand and supply balance will be even more vital for the tanker market, given that consumption rebound in the coming years is at best going to just boost figures on par to those noted during 2015-2019. This inevitably leaves for minimal growth potential in a sector that is currently finding itself in the midst of a major supply glut.
Yiannis Vamvakas
Research Analyst
Allied Shipping Research
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Thursday, 17 December 20
CHINA'S BAN IS LESS OF A THREAT TO AUSTRALIA'S COAL INDUSTRY THAN INTERNATIONAL CLIMATE AMBITION - IEEFA
Australian coal exporters will survive this near-term political fight but there are longterm structural headwinds
The decision by Ch ...
Thursday, 17 December 20
BUMA SIGNED US$1.0 BILLION WORTH OF EXTENSION CONTRACT WITH BERAU COAL
PT Bukit Makmur Mandiri Utama, subsidiary of PT Delta Dunia Makmur Tbk., has extended its mining services contracts with PT Berau Coal, in relation ...
Wednesday, 16 December 20
INDONESIA 2020 COAL CONSUMPTION ESTIMATED AT 140-145 MLN TONNES - OFFICIAL, REUTERS REPORTED
Indonesia’s domestic coal consumption is estimated at 140-145 million tonnes this year, Dodik Ariyanto, an official at the energy ministry, t ...
Wednesday, 16 December 20
RUSSIA REVISES DOWN EXPORT EXPECTATION - FITCH
The Ministry of Economy of Russia, the world’s third largest thermal coal exporting country, released its annual forecasts ...
Wednesday, 16 December 20
INDIAN COAL IMPORTS TO REMAIN SUBDUED - FITCH RATINGS
Fitch Rating commented on Indian Coal Imports, Fitch said, coal imports by Indian utilities fell by about 24% yoy to 44 million tonnes (mt) i ...
|
|
|
Showing 701 to 705 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- PTC India Limited - India
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Minerals Council of Australia
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
|
| |
| |
|
