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, 22 August 18
KOMIPO INVITES BIDS FOR 480K TONS OF BITUMINOUS COAL FOR BORYEONG POWER PLANT & SHIN BORYEONG POWER PLANTS
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 480,000 mt of min. 5700 NAR coal of Australian origi ...
Wednesday, 22 August 18
SHIPPING MARKET INSIGHT - GEORGE PANAGOPOULOS
During the most quite week of the summer period we witnessed a trade war between United States and Turkey. A battle, which started with the arrest ...
Monday, 20 August 18
SUPRAMAX: OVERALL IT WAS A POSITIVE WEEK FOR THE BSI INDEX WITH GAINS MADE - THE BALTIC BRIEFING
Capesize
A week of largely unfulfilled expectations with holidays again curbing activity. Rates remained essentially healthy, but despite bad wea ...
Friday, 17 August 18
DO ARBITRATION AGREEMENTS IN BILLS OF LADING BIND THEIR HOLDERS? - WFW
KNOWLEDGE TO ELEVATE
Bills of lading are a crucial part of the security package traditionally sought by trade finance providers.
...
Friday, 17 August 18
MALAYSIA'S MANJUNG 4 - WORLD COAL ASSOCIATION
According to the IEA’s Energy Access Outlook 2017 report, nearly all of those who gained access to electricity worldwide in the last 16 years ...
|
|
|
Showing 1641 to 1645 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- MS Steel International - UAE
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- The University of Queensland
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Minerals Council of Australia
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
|
| |
| |
|
