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.
|
|
Thursday, 20 February 20
CHINA RESUMES OVER 70 PCT COAL PRODUCTION CAPACITY AMID EPIDEMIC - XINHUA
China has resumed 70.2 percent of its coal production capacity with output recovering steadily amid the fight against the novel coronavirus epidemi ...
Thursday, 20 February 20
CHINA THERMAL COAL MARKET FACES 2-3 MONTH CORONAVIRUS SHORT SQUEEZE: NOBLE - REUTERS
China’s domestic thermal coal market faces a 2-3 month short squeeze as a rapidly spreading coronavirus outbreak curtails production more tha ...
Wednesday, 19 February 20
KOREA MIDLAND POWER INVITED BIDS FOR 1 MILLION TONS OF HCV AND LCV COAL FOR Q2- Q4 LOADING
COALspot.com: Korea Midland Power Co. Ltd, (KOMIPO). has issued an international tender for total 1 million MT of coal for April to December 2020 l ...
Wednesday, 19 February 20
GLENCORE WRITES OFF ALMOST $1 BILLION AT COLOMBIAN COAL MINES DUE TO FALLING EUROPEAN IMPORTS: BLOOMBERG
The economic case against European coal is proving too much for even Glencore Plc.
The world’s biggest coal shipper cut the va ...
Wednesday, 19 February 20
MINERS WELCOME INDONESIA'S NEW JOBS BILL THAT COULD SPUR COAL GROWTH - REUTERS
Miners have welcomed proposed changes to Indonesian mining rules under a new law aimed at boosting investment, though critics are concerned that th ...
|
|
|
Showing 1116 to 1120 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Thiess Contractors Indonesia
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
|
| |
| |
|
