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, 04 March 20
CORONAVIRUS: A WILDCARD FOR BULKS DEMAND - WOOD MACKENZIE
The coronavirus is casting a shadow across commodity markets. It has undermined China’s economic sentiment, putting the country’s growt ...
Wednesday, 04 March 20
THERMAL COAL TO 'PHASE OUT', STRONG DEMAND FOR COKING COAL: PLATO - SYDNEY MORNING HERALD
Plato Investments managing director Don Hamson says Australian iron ore producers are set to benefit in the fallout from coronavirus as China will ...
Wednesday, 04 March 20
CHINA PROVINCE TO CLOSE 10 MLN TONNES OF COAL CAPACITY IN 2020 - XINHUA
Southwest China’s Guizhou Province plans to phase out 10 million tonnes of outdated coal production capacity by closing 80 coal mines in 2020 ...
Wednesday, 04 March 20
UKRAINE PRODUCED OVER 2.55 MLN TONNES OF COAL IN FEBRUARY - UKRINFORM
In February 2020, Ukraine produced over 2.55 million tonnes of coal, which is 0.2% less than planned.
The Coal Miners Union of Ukrai ...
Tuesday, 03 March 20
IMPORTANCE OF MASTER'S CARGO CHECKS - BALTIC EXCHANGE
KNOWLEDGE TO ELEVATE
Adecision in recent High Court case has made it clear that there is no implied indemnity from a charterer to their counte ...
|
|
|
Showing 1096 to 1100 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Planning Commission, India
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Mercator Lines Limited - India
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
|
| |
| |
|
