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, 22 July 19
SUPRAMAX: THE ASIAN ARENA SAW INCREASED ACTIVITY AND STRONGER NUMBERS BEING CONCLUDED; INDONESIAN ROUNDS REMAINED FIRM - BALTIC BRIEFING
Capesize
Another week of gains as the Atlantic basin continues to be pressurised on tonnage and Brazilian cargoes keep up a steady flow. The Ca ...
Thursday, 18 July 19
WORLD TRADE IN HARD COAL ROSE BY 4.7% IN 2018 - GERMANY COAL IMPORTERS ASSOCIATION
World Trade in Hard Coal Rose by 4.7% in 2018
Hard Coal Can Prevent Stress in the Electric Power System in Germany
• Sharp decl ...
Wednesday, 17 July 19
MARKET INSIGHT - INTERMODAL
The Strait of Hormuz is one of the most important waterways in the world, connecting crude producers in the Middle East with key markets in the res ...
Tuesday, 16 July 19
KING COAL RULES IN JAPAN AS POWER UTILITIES IN THRALL TO LOW-COST FUEL - REUTERS
Japanese utilities will rely on the return of coal-fired power plants from maintenance to meet peak electricity demand this summer, highlighting th ...
Tuesday, 16 July 19
SUPRAMAX: THE ASIAN ARENA WAS SPLIT, WITH A BUILD-UP OF TONNAGE AND LACK OF ENQUIRY IN THE NORTH - BALTIC BRIEFING
Capesize
It was a Brazilian affair with a strong splash of bunkers characterising the Capesize market over the past week. Largely traded in Eur ...
|
|
|
Showing 1361 to 1365 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
|
| |
| |
|
