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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
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Tuesday, 07 April 20
COAL INDIA'S DISPATCHES DROP, OUTPUT INCREASES - THE HINDU
India’s largest coal producer Coal India Ltd. (CIL) has seen a 10% fall in dispatches in March 2020 due to a sharp fall in demand from the po ...
Tuesday, 07 April 20
CORONAVIRUS AND LOCKDOWNS DRAG DOWN THE INDONESIAN COAL PRICE REFERENCE IN APRIL
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of the Indonesian ther ...
Monday, 06 April 20
A 52,000DWT SHIP FIXING DELIVERY SINGAPORE TRIP, VIA INDONESIA, REDELIVERY TAIWAN, AT $3,100 - BALTIC BRIEFING
Capesize
The Capesize market this past week looks to have come off life support and found some improved sentiment. The week began rather ordina ...
Monday, 06 April 20
INDIA'S 21-DAY LOCKDOWN - IMPACT ON COMMODITIES? - WOOD MACKENZIE
India is under a three-week lockdown from 25 March, to contain the spread of the coronavirus outbreak. Wood Mackenzie analysts discuss what this me ...
Friday, 03 April 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 ...
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Showing 1026 to 1030 news of total 6871 |
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- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- The University of Queensland
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Australian Coal Association
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Planning Commission, India
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
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