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.
|
|
Friday, 28 September 18
INDONESIA 2018 COAL OUTPUT TARGET NOW AROUND 507 MLN T - ENERGY MINISTRY : REUTERS
Indonesia has increased its 2018 coal production target to around 507 million tonnes from a previous target of 485 million tonnes, the Energy Minis ...
Friday, 28 September 18
FITCH RATINGS: METALLURGICAL COAL MINERS MAY CURB COSTS AS PRICES SLIP
Strong cost inflation in the global metallurgical coal sector suggests that miners may focus on cost controls as prices decline from their current ...
Wednesday, 26 September 18
IS YOUR CHARTER PARTY READY FOR 2020? - METTE KRONHOLM FRAENDE, BIMCO
As the deadline for the IMO’s global low-sulphur fuel requirements fast approaches, it is necessary to carefully check the bunker clauses in ...
Wednesday, 26 September 18
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
Despite the fact that the dry bulk SnP market saw an admittedly busy summer season, there is a noticeable slowdown in activity during the past thre ...
Tuesday, 25 September 18
THE INCONVENIENT TRUTH OF RISING COAL PRICES - FORBES
Coal prices are not supposed to be rising as governments tighten environmental controls but that’s precisely what is happening at the premium ...
|
|
|
Showing 1606 to 1610 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- White Energy Company Limited
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- MS Steel International - UAE
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
|
| |
| |
|
