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, 12 May 20
CAN INDONESIA'S COAL INDUSTRY SURVIVE COVID-19? : IEEFA
Pandemic Lockdown and Slumping Prices Put Extreme Pressure on Coal Miners
Executive Summary
While attention has been focused on th ...
Tuesday, 12 May 20
INDIA'S COAL PRODUCTION TO CLOCK RECORD 700 MILLION TONNES IN FY21: COAL SECRETARY - PTI
Coal Secretary Anil Jain said FY20 coal production was lower than the target of 660 million tonnes because of flooding of a key coal mine.
&nbs ...
Monday, 11 May 20
CHINA'S BENCHMARK POWER COAL PRICE DROPS SLIGHTLY - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
Monday, 11 May 20
CORONAVIRUS PUTS MORE THAN A THIRD OF SEABORNE COAL SUPPLY AT RISK - WOOD MACKENZIE
The full impact of the coronavirus outbreak on the global economy is yet unclear. However, the demand destruction is already becoming evident, with ...
Saturday, 09 May 20
ANGLO AMERICAN CONSIDERS SPINNING OFF SOUTH AFRICAN COAL OPERATIONS - REUTERS
Diversified miner Anglo American said on Thursday it prefers unbundling and listing its thermal coal operations in South Africa on the Johannesburg ...
|
|
|
Showing 971 to 975 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- White Energy Company Limited
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- MS Steel International - UAE
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
|
| |
| |
|
