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, 02 June 20
THE HISTORIC DECLINE OF US COAL - WOOD MACKENZIE
The first commercial power plant in the US was Thomas Edison’s coal-fired Pearl Street station in lower Manhattan, which started operating in ...
Tuesday, 02 June 20
COAL INDIA'S MAY SALES DRIVEN SHARPLY LOWER BY SLUMP IN POWER DEMAND - REUTER
Coal India’s sales fell 23.3% in May as utilities refrained from purchases amid record stockpiles and tepid demand because of a nationwide lo ...
Tuesday, 02 June 20
TUAH TURANGGA AGUNG RECORDED 4.54 MILLION TONS OF COAL SALES IN THE FIRST FOUR MONTHS OF 2020
PT United Tractors Tbk through its subsidiary, PT Tuah Turangga Agung recorded 4.54 million tons of coal sales in the first four months of 2020, up ...
Tuesday, 02 June 20
SOURING SINO-AUSTRALIA TRADE RELATIONS - BALTIC EXCHANGE
Cooling relations between the commodity powerhouses of China and Australia may point to trade troubles ahead when the world emerges from the Covid- ...
Tuesday, 02 June 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.86 PCT - XINHUA
China Taiyuan coal transaction price index stood at 123.95 points Monday, down 0.86 percent week on week.
The index, released by Chi ...
|
|
|
Showing 936 to 940 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- The University of Queensland
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
|
| |
| |
|
