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, 01 May 20
LUKOIL SHARES LUBRICANT EXPERIENCE AFTER FIRST 100 DAYS OF OPERATION ON VLSFO
KNOWLEDGE TO ELEVATE
After 100 days of VLSFO operation, LUKOIL Marine Lubricants is sharing recent experience on VLSFO operation with NAVIGO M ...
Wednesday, 29 April 20
OIL CLOSES IN ON PEAK OVERSUPPLY - WOOD MACKENZIE
Are we now deep in the abyss? Up to our necks in it, if the oil price is any guide. Brent has now tested sub-US$20/bbl in this downturn and WTI sub ...
Monday, 27 April 20
INCIDENT INVESTIGATION: SEARCH FOR THE CAUSE, NOT THE VILLAIN - GARD
Incident investigations often conclude with placing the blame for an incident on the crew. Causes of the incidents are usually identified as proced ...
Monday, 27 April 20
A 58,000DWT VESSEL WAS FIXED DELIVERY SINGAPORE TRIP VIA INDONESIA, RE-DELIVERY WC INDIA, AT $4,500 - BALTIC BRIEFING
Capesize
The tide turned this week for the Capesize market, as voyage rates registered dramatically falling fuel costs. This was led primarily ...
Sunday, 26 April 20
STRONGER BUNKER PRICES FAIL TO RALLY FREIGHT MARKET - FIS
VLSFO bunker prices rebounded by $22.50 to $229/mt in the port of Singapore but failed to turn around the spot freight market.
Some ...
|
|
|
Showing 996 to 1000 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Australian Coal Association
- Parliament of New Zealand
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- CNBM International Corporation - China
|
| |
| |
|
