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.
|
|
Wednesday, 06 May 20
COST CHALLENGES IN A US$20/BBL WORLD - WOOD MACKENZIE
A new approach is needed to ensure supply sector resilience
How will US$20/bbl affect the oil and gas supply chain?
It’s going to g ...
Wednesday, 06 May 20
MARKET INSIGHT - INTERMODAL
It comes as no surprise that activity in the dry bulk SnP market remains soft, with asset values caught in the downward spiral generated by the Cov ...
Wednesday, 06 May 20
FLOATING STORAGE OF OIL CARGOES - STANDARD CLUB
KNOWLEDGE TO ELEVATE
Due to a combination of circumstances there is now a worldwide shortage of storage space ashore for both unrefi ...
Wednesday, 06 May 20
IRON ORE TRADE REMAINS REMARKABLY RESILIENT THIS YEAR, AT LEAST IN ASIA - BANCHERO COSTA
Iron ore trade remains remarkably resilient this year, at least in Asia, despite the global economic impact from COVID-19. In the first 4 months of ...
Tuesday, 05 May 20
SUPRAMAXES: YTD SLIDE HAS BEEN 45%, WITH THE AVERAGE FOR 2020 TCA HOLDING AT US$5,793 - ALLIED
It has been almost three months since the WHO officially categorized the current coronavirus outbreak as a global pandemic, an outbreak that has br ...
|
|
|
Showing 986 to 990 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- The University of Queensland
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
|
| |
| |
|
