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.
|
|
Monday, 25 November 19
COAL SUPPLY BY CIL TO POWER SECTOR DROPS OVER 8 PC TO 253 MT IN APRIL-OCTOBER - PTI
Supply of coal by state-owned CIL to the power sector registered a decline of 8.5 per cent to 253 million tonnes in the April-October period of thi ...
Monday, 25 November 19
A 53,000DWT SHIP FIXED AT $9,500 DELIVERY SINGAPORE TRIP, VIA INDONESIA, REDELIVERY VIETNAM - BALTIC BRIEFING
Capesize
After a week of value being eroded on the Capesize market, Friday brought improved sentiment across most of the routes. The 5TC averag ...
Monday, 25 November 19
KOWEPO INVITED 6.79 MILLION TONS OF (SUB)BITUMINOUS STEAM COAL BIDS
COALspot.com: South Korea’s Korea Western Power Co., Ltd. (KOWEPO) has issued an international tender for 6,798,000 tons of coal for 5 years ...
Friday, 22 November 19
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Friday, 22 November 19
FORTY PERCENT OF ADARO'S COAL SALES VOLUME IN 9M19 GOES TO THE SOUTHEAST ASIA REGION
PT Adaro Energy Tbk released its consolidated financial statements yesterday, for the nine month period, ending September 30, 2019.
...
|
|
|
Showing 1271 to 1275 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- The University of Queensland
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Australian Coal Association
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
|
| |
| |
|
