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, 10 April 19
CHINA'S GROWING THERMAL COAL SUPPLY TO PRESSURE EXPORTERS - FITCH RATINGS
Growing Chinese thermal coal supply is likely to lead to further tightening of import controls by the government, putting pressure on seaborne coal ...
Wednesday, 10 April 19
SHIPPING MARKET INSIGHT - INTERMODAL
The tragedy in Brazil’s Vale Brumadinho where a tailings dam collapsed in January ranks among the world’s worst mining disasters. It co ...
Monday, 08 April 19
5TH INDIA NUCLEAR NEW BUILD CONGRESS 2019
5th India Nuclear New Build Congress 2019
The congress in Mumbai aims to bring together representatives from governments, regulators ...
Monday, 08 April 19
THERMAL COAL PRICES FALL, INDIAN POWER PLANTS TO SEE LIMITED GAINS - BUSINESS STANDARD
Thermal coal prices are on a downward spiral globally. Australian coal prices have fallen nearly 20 per cent in the past week, and 40 per cent from ...
Monday, 08 April 19
CHEAP COAL SWELLS IN SOUTHEAST ASIA, FOILING GLOBAL GREEN PUSH - NIKKEI
Southeast Asian countries are turning to low-cost coal to satisfy their surging electricity demand as the West shies away from the fossil fuel unde ...
|
|
|
Showing 1426 to 1430 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Australian Coal Association
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- The University of Queensland
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
|
| |
| |
|
