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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
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Friday, 19 June 20
INDIA'S COAL CONSUMPTION GROWTH IN 2019 SLOWEST SINCE 2001: BP STATS REVIEW - HINDU BUSINESS LINE
Growth in global energy markets slowed in 2019 in line with weaker economic growth, according to the bp Statistical Review of World Energy 2020. Th ...
Friday, 19 June 20
KOWEPO TO IMPORT 1,050,000 MT OF MIN 5300 NCV COAL FOR THREE YEARS
COALspot.com: Korera Western Power Co., Ltd. (KOWEPO) has issued an International tender for Total 1,050k MT Min.5,300 kcal/kg NCV coal for t ...
Thursday, 18 June 20
INDIA: GOVT'S PLAN TO CUT COAL IMPORT GOES FOR A TOSS AS FY20 BREAKS LOGISTICS CHAIN; LOCAL OUTPUT STAGNANT - FINANCIAL EXPRESS
Weak logistics support and disrupted supply chain towards the end of the last financial year 2019-20 hit the government’s plan to cut coal im ...
Thursday, 18 June 20
INDIA: THERMAL PLANTS TO OPERATE BELOW 53% CAPACITY IN FY21 AS POWER DEMAND DIPS - BUSINESS STANDARD
The Plant Load Factor (PLF) of thermal power stations across the country is projected to dip below 53 per cent in this fiscal. Muted power demand f ...
Wednesday, 17 June 20
MARKET INSIGHT - INTERMODAL
After experiencing record earnings during the first half of the year, the focus of headlines concerning the tanker market has shifted from the deve ...
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Showing 901 to 905 news of total 6871 |
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- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Planning Commission, India
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
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