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.
|
|
Tuesday, 11 December 18
PORT OF NEWCASTLE SHIPPED 10.849 MMT OF COAL IN NOVEMBER DOWN 23.44 PERCENT MOM
COALspot.com: The Port of Newcastle, Australia’s major trading port and the world’s largest coal export port has shipped A$ 1,574.8 mil ...
Thursday, 06 December 18
IN THE EAST, BIGGER SUPRA WAS FIXED CA US$ 10K FOR INDO-CHINA COAL ROUND - FEARNLEYS
Capesize
There is cautious optimism for the Capes, with healthier volumes and improving rates in the Pacific. West Australia round is gradually ...
Thursday, 06 December 18
U.S. COAL CONSUMPTION IN 2018 EXPECTED TO BE THE LOWEST IN 39 YEARS - EIA
EIA expects total U.S. coal consumption in 2018 to fall to 691 million short tons (MMst), a 4% decline from 2017 and the lowest level since 1979. U ...
Thursday, 06 December 18
DEMAND RISKS WEIGH ON GLOBAL SHIPPING SECTOR OUTLOOK - FITCH RATINGS
The global shipping sector outlook remains negative reflecting the demand-side risks of protectionism and slower economic growth, Fitch Ratings say ...
Thursday, 06 December 18
CHINA REVISES MANAGEMENT RULES ON ESTABLISHMENT OF FULLY FOREIGN-OWNED SHIPPING BUSINESSES - XINHUA
Foreign shipping companies will find it easier to establish wholly-owned subsidiaries in China thanks to a revised regulation due to take effect on ...
|
|
|
Showing 1536 to 1540 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
|
| |
| |
|
