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, 15 January 20
ASIA PACIFIC GAS AND LNG - 6 THEMES TO WATCH IN 2020 - WOOD MACKENZIE
NEWS RELEASE
Wood Mackenzie has identified six themes that will impact Asia Pacific’s gas and LNG markets in 2020
Asian LNG spot pr ...
Wednesday, 15 January 20
PREDICTIONS FOR 2020: 'SLOWBALISATION" IS THE NEW GLOBALISATION - PWC
Projecting what the future holds is an important exercise for businesses looking to plan ahead. Below we present a summary of some of the themes we ...
Wednesday, 15 January 20
SHIPPING MARKET INSIGHT - INERMODAL
Happy New Year and all the best for IMO 2020 !!
The early days of IMO 2020 coming into force have certainly had an impact on the indus ...
Tuesday, 14 January 20
SOLAS AMENDMENTS ENTERING INTO FORCE 1 JANUARY 2020 - STANDARD CLUB
While the latest amendments to MARPOL annex VI which entered into force on 1 January 2020 limiting the SOx emissions from ships has been the centre ...
Tuesday, 14 January 20
MABUX: BUNKER MARKET THIS MORNING, JAN.14
MABUX World Bunker Index (consists of a range of prices for 380 HSFO, 180 HSFO and MGO (Gasoil) in the main world hubs) changed insignificant and i ...
|
|
|
Showing 1191 to 1195 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Bhatia International Limited - India
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
|
| |
| |
|
