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.
|
|
Saturday, 06 April 19
SUPRAMAX: IT WAS A POOR WEEK OVERALL FOR THE BALTIC SUPRAMAX INDEX, WHICH LOST GROUND - BALTIC BRIEFING
Capesize
The Capesize market over the past week looked to have found a floor on Tuesday with the BCI 5TC at $3460 before firming into the rest ...
Thursday, 04 April 19
OVERSUPPLY STILL MAJOR CHALLENGE WARNS ICS
Speaking in Istanbul, Simon Bennett, Deputy Secretary General of the International Chamber of Shipping (ICS) warned that avoiding overcapacity and ...
Thursday, 04 April 19
GLENCORE, TOHOKU ELECTRIC SET COAL CONTRACT PRICE AT $94.75/T - SOURCE, REUTERS REPORTED
Global miner Glencore and Japan’s Tohoku Electric Power agreed on a price of $94.75 per tonne for supplies of thermal coal from Australia for ...
Monday, 01 April 19
FORCE MAJEURE SUCCESS NOT A SEA CHANGE - BALTIC EXCHANGE
KNOWLEDGE TO ELEVATE
It is difficult to successfully argue that contractual performance has been prevented or delayed by force majeure. This i ...
Monday, 01 April 19
AUSTRALIAN COAL AT RISK FROM CHINA MOVE, WARNS GOVERNMENT REPORT - SYDNEY MORNING HERALD
A new government report warns China’s restrictions on coal imports is the number one risk for Australian coal this year and could lead to a s ...
|
|
|
Showing 1436 to 1440 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Planning Commission, India
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- PTC India Limited - India
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Australian Coal Association
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
|
| |
| |
|
