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, 09 June 20
INDIA: COAL IMPORT DROPS BY 20% TO NEARLY 19 MILLION TONNES IN MAY, SAYS REPORT - HINDUSTAN TIMES
The country’s coal import dropped by 20 per cent to 18.93 million tonnes (MT) last month, industry data showed.
The government ...
Monday, 08 June 20
WOOD MACKENZIE: THE INDISPENSABLE OPEC+
Rumours of “the death of OPEC” have been circulating for almost as long as the organisation has existed. Just three years after the car ...
Monday, 08 June 20
CHINA'S COAL IMPORTS FALL NEARLY 20% IN MAY EVEN AS DEMAND RISES - REUTERS
China’s coal imports in May fell nearly 20% compared with a year earlier even as demand recovered at power plants and industrial users, custo ...
Monday, 08 June 20
JUNE 2020 INDONESIAN COAL PRICE REFERENCE HIT US$ 52.98 A TON, ITS LOWEST LEVEL SINCE AT LEAST AUGUST 2016
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
Sunday, 07 June 20
A SCRUBBER FITTED 61,000 ULTRAMAX WAS FIXED DELIVERY PHILIPPINES TRIP VIA SOUTH AFRICA REDELIVERY VIETNAM AT $9,500 - BALTIC BRIEFING
Capesize
The small flicker of hope at the beginning of this week has kindled a small fire under the Capesize market. At a paltry $3369 from the ...
|
|
|
Showing 921 to 925 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Australian Coal Association
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- PTC India Limited - India
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
|
| |
| |
|
