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, 07 February 20
CIL LOOKING TO TAP NON-POWER SECTORS FOR INCREMENTAL COAL, PTI REPORTED
The miner is looking to ramp up production to meet its targets for the current fiscal at a time when the economic slowdown is impacting demand for ...
Friday, 07 February 20
VIRUS - HIT CHINA MAY NEED MORE IMPORTS OF COAL. NOW COMES THE TRICKY PART - SHIPPING IT THERE: REUTERS
China’s domestic coal mines are struggling to ramp up production in the face of the ongoing coronavirus epidemic. That’s a situation th ...
Friday, 07 February 20
CORONAVIRUS IMPACTING THE GLOBAL SHIPPING INDUSTRY - BIMCO
The outbreak of the novel Coronavirus has dented market sentiment and spooked markets around the globe. When China sneezes, we all catch the flu. T ...
Thursday, 06 February 20
CAPE: WEAK SUPPLY/DEMAND RATIO THE STREETS REMAIN BLOODY FOR THE BIG SHIPS - FEARNLEYS
Cape: With still a weak supply/demand ratio the streets remain bloody for the big ships, and actual spot earnings are close to zero on main short-h ...
Thursday, 06 February 20
CHINESE DEMAND KEY UNCERTAINTY FOR SEABORNE COAL MARKET IN 2020 - THE BRICS POST
Coal trader Noble Resources head of research Rodrigo Echeverri Cardozo had penciled in a 3 Mt drop in Chinese import demand for 2020, but it could ...
|
|
|
Showing 1146 to 1150 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- Planning Commission, India
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
|
| |
| |
|
