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, 08 May 20
THE COLLAPSE OF THE OIL AND BUNKER FUEL MARKETS IN EARLY 2020 - PETER SAND
The sulphur regulation from the International Maritime Organization (IMO) that came into force on 1 January 2020 took the centre stage in the shipp ...
Friday, 08 May 20
LNG DEMAND FACED SEVERAL HEADWINDS IN THE FIRST QUARTER OF 2020 - GASLOG
LNG demand faced several headwinds in the first quarter of 2020 including a warmer than average winter in the northern hemisphere, high inventory l ...
Thursday, 07 May 20
IEEFA UPDATE: THE OUTLOOK FOR THERMAL COAL IN SOUTHEAST ASIA AND SOUTH ASIA
Seven headwinds are building to sustained growth in coal in Asia
The medium term outlook for thermal coal in Southeast Asia is posit ...
Thursday, 07 May 20
IMO 2020: BUNKER CLAIMS HANDLING GUIDE FOR A NEW DECADE - THE STANDARD CLUB
KNOWLEDGE TO ELEVATE
IMO 2020 is the term generally used to describe the following regulations under Annex VI of the International Convention ...
Thursday, 07 May 20
CRUDE OIL TANKER EARNINGS DROP 68% IN NINE DAYS - BIMCO
Crude oil tanker earnings have come down sharply in recent weeks with Very Large Crude Carrier (VLCC) earnings from the Middle East Gulf to China d ...
|
|
|
Showing 976 to 980 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- GMR Energy Limited - India
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
|
| |
| |
|
