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.
|
|
Saturday, 18 January 20
GERMAN STEAM COAL IMPORTS IN 2019 PLUMMETED BY 17 % - COAL IMPORTERS ASSOCIATION
Press Release: According to preliminary calculations by the German Coal Importers Association (Verein der Kohlenimporteure e. V.), world trade in h ...
Saturday, 18 January 20
A 61,400 DWT FIXED FROM SOUTH EAST ASIA DELIVERY EAST KALIMANTAN REDELIVERY WEST COAST INDIA IN THE LOW $7,000S - BALTIC BRIEFING
Capesize
The market was relatively stable over this past week putting an end to the past months of more extreme declines. While the Capesize 5T ...
Friday, 17 January 20
EIA ESTIMATES THAT U.S. COAL PRODUCTION DECLINED BY 65 MMST (9%) TO 690 MMST IN 2019. IN 2020, COAL PRODUCTION WILL DECLINE BY A FURTHER 14% TO 597 MMST
U.S. Coal Supply.
EIA estimates that U.S. coal production declined by 65 million short tons (MMst) (9%) to 690 MMst in 2019. In 2020, EIA ...
Friday, 17 January 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index, a gauge of coal p ...
Thursday, 16 January 20
SUPRAMAX: INDO/CHINA ROUND VOYAGE FIXING AROUND LOW/MID USD 6,000 BSS APS INDO - FEARNLEYS
Capesize
Still very rough seas for the big ships, with the majority of the fleet trading Far East or fronthaul and consequently earning far les ...
|
|
|
Showing 1186 to 1190 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- PTC India Limited - India
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Economic Council, Georgia
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
|
| |
| |
|
