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.
|
|
Friday, 20 November 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Thursday, 19 November 20
MARKET INSIGHT - INTERMODAL
As we are moving towards the end of the year, the overall deal landscape of the dry bulk sector corresponding to the second half of 2020 (up to dat ...
Tuesday, 17 November 20
COAL SQUEEZE INTENSIFIES - BALTIC EXCHANGE
The message from the top is clear: cut out coal. While the regulatory pressure has been evident for some time, the race to banish the black stuff s ...
Tuesday, 17 November 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.35 PCT - XINHUA
China Taiyuan coal transaction price index stood at 128.72 points Monday, up 0.35 percent week on week.
The index, released by China ...
Tuesday, 17 November 20
AUSTRALIAN COAL EXPORTS TO CHINA SLUMP, BUT PRICES ARE MIXED - REUTERS
China’s unofficial ban on coal imports from Australia is starting to take its toll on volumes, with departing cargoes down sharply so far in ...
|
|
|
Showing 731 to 735 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- PTC India Limited - India
- Aditya Birla Group - India
- VISA Power Limited - India
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
|
| |
| |
|
