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, 18 September 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, 17 September 20
LAST HOPES FOR DEMAND GROWTH SET TO DISAPPOINT THERMAL COAL EXPORTERS - IEEFA
Asian thermal coal exporters are fighting an uphill battle even in new markets
The world’s largest thermal coal exporter is eyeing new m ...
Wednesday, 16 September 20
MARKET INSIGHT - INTERMODAL
Another active week in terms of SnP has concluded in the dry bulk market with a diversified array of transactions recorded. Despite the correction ...
Friday, 11 September 20
IMO 2020: A REVIEW OF THE TRANSITION TO VLSFOS - GARD
KNOWLEDGE TO ELEVATE
Many predictions were made in the run up to the imposition of the MARPOL 2020 sulphur cap, none of which was that the tra ...
Thursday, 10 September 20
U.S. COAL PRODUCTION IN 2020 TO BE 511 MMST, 28 PER CENT LOWER THAN IN 2019 - EIA
EIA expects total U.S. coal production in 2020 to be 511 million short tons (MMst), 194 MMst (28%) lower than in 2019. Mitigation efforts related t ...
|
|
|
Showing 781 to 785 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
|
| |
| |
|
