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.
|
|
Sunday, 23 June 19
SUPRAMAX: A 56,000-DWT WAS FIXED FROM INDONESIA TO VIETNAM AT $10,000 - BALTIC BRIEFING
Capesize
The story over the past week has been largely Atlantic dominated as the basin’s uniquely volatile characteristics came into play ...
Saturday, 22 June 19
OPEC'S BATTLE FOR CONTROL OF THE OIL MARKET - WOOD MACKENZIE
Oil supply is confounding expectations. We have just raised our forecasts for non-OPEC production, the latest in a series of incremental increases. ...
Friday, 21 June 19
INDONESIA'S BAYAN RESOURCES SIGNED A COAL SUPPLY AGREEMENT WITH THE BANGLADESH BCPCL TO SUPPLY 23 MILLION TONS OF COAL FOR 10 YEARS
On Monday, 17th June 2019, PT. Bayan Resources signed a Coal supply Agreement with the Bangladesh- China Power Company (Pvt.) Limited. BCPCL is a j ...
Thursday, 20 June 19
BUMI RESOURCES EXPECTS TO SELL 42 MILLION TONS OF COAL IN FIRST HALF - JAKARTA POST
PT Bumi Resources (BUMI), Indonesia's largest thermal coal miner, expects to close the first half of this year with coal sales of 42 million to ...
Tuesday, 18 June 19
TANKER SHIPPING: WHILE WE WAIT FOR 2020 TO KICK IN, IT'S ALL ABOUT POLITICS - BIMCO
Demand drivers and freight rates
Iran, Libya and Venezuela face export limitations because of sanctions and internal political troubles. At the s ...
|
|
|
Showing 1376 to 1380 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Minerals Council of Australia
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Economic Council, Georgia
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
|
| |
| |
|
