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.
|
|
Tuesday, 29 September 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.73 PCT - XINHUA
China Taiyuan coal transaction price index stood at 125.91 points Monday, up 0.73 percent week on week.
The index, released by China ...
Tuesday, 29 September 20
SHIPPING MARKET - ALLIED
Here we are, just a short breath before the final quarter of the year, and many are now debating to what extent we can really expect a firm dry bul ...
Tuesday, 29 September 20
INDONESIAN COAL COMPANIES' EARNINGS TO WEAKEN IN 2H20 - FITCH RATINGS
Rated Indonesian coal miners and contractors will have weaker operating and financial performances in the second half of 2020 than in the first, sa ...
Tuesday, 29 September 20
RUSSIA'S COAL PRODUCTION TO DROP BY 10.5% IN 2020, SAYS MINISTRY - TASS
Russia’s Economic Development Ministry projects a 10.5% decrease in coal production in the country in 2020 compared with last year to 395 mln ...
Monday, 28 September 20
NEW LNG PROJECTS - ALL DRESSED UP AND NO PLACE TO GO - WOOD MACKENZIE
It was meant to be another boom year. After a record 70 mmtpa of new LNG capacity was sanctioned in 2019, at least as much capacity was lined up fo ...
|
|
|
Showing 771 to 775 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- The University of Queensland
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Interocean Group of Companies - India
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Central Java Power - Indonesia
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
|
| |
| |
|
