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, 26 June 18
A SHARP RISE IN THE PRICE OF CRUDE OIL WAS TO BE SEEN ON FRIDAY, ITS BIGGEST DAILY GAIN IN TWO YEARS - GEORGE LAZARIDIS
A sharp rise in the price of crude oil was to be seen on Friday, its biggest daily gain in two years, as OPEC reached a deal to raise output. Despi ...
Monday, 25 June 18
AUSTRALIA'S NEWCASTLE PORT SHIPPED 12.179 MT OF COAL IN MAY; DOWN 14.77% M/M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU1,453.6 Mi ...
Monday, 25 June 18
COAL IN THE CROSSFIRE: CHINESE TRADERS WARY OF BEING BURNT BY TRADE WAR - REUTERS
At least three U.S. coal shipments on their way to China may end up casualties of the escalating trade dispute after Beijing said it would impose s ...
Saturday, 23 June 18
COAL GROUP TARGETS 9 PER CENT REVENUE SPIKE - VIET NAM NEWS
Viet Nam News reported, the Viet Nam National Coal and Mineral Industries Group (Vinacomin or TKV) is targeting VNĐ116.9 trillion (US$5.1 billion) ...
Thursday, 21 June 18
ROBUST ASIAN THERMAL COAL DEMAND CREATES OPPORTUNITIES FOR AUSTRALIA - MINERALS COUNCIL OF AUSTRALIA
Minerals Council of Australia reported, Australia’s world-class coal mining industry can create more jobs in Australia and strengthen t ...
|
|
|
Showing 1691 to 1695 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- White Energy Company Limited
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
|
| |
| |
|
