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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
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Tuesday, 05 June 18
THINGS STILL LOOK TO BE PROMISING FOR THE DRY BULK MARKET OVER THE NEXT COUPLE OF MONTHS - GEORGE LAZARIDIS
Just as we thought the world was calming back down to reason, worries and frictions regarding global trade resurfaced this past week after a series ...
Tuesday, 05 June 18
INDONESIAN COAL PRICE REFERENCE IS GOING UP AGAIN
COALspot.com: According to latest ministerial decree No. 1857 K/30/MEM/2018 dated 4 June 2018, the Indonesian Coal Price Reference (HBA) up 7.91 pe ...
Saturday, 02 June 18
HOW CARBON UTILISATION WILL BE A KEY STEP IN INDIA'S CLIMATE STRATEGY - BENJAMIN SPORTON
For India, energy remains the key driver of growth, not only from an economic perspective but more importantly for accelerating social development. ...
Thursday, 31 May 18
SUPRAMAX: INDO/CHINA COAL RV IS GETTING FIXED AROUND $13K DELIVERY SINGAPORE - FEARNLEYS
Capesize
The Cape market has been on a downward trend for the past week.
According to Fearnleys, Oslo based broker, Brazil market ...
Wednesday, 30 May 18
HIGH PRICE, DMO ENCOURAGE COAL MINERS TO BOOST PRODUCTION - THE JAKARTA POST
A number of coal miners are planning to increase production by 10 percent in the second half of this year after a worldwide price increase.
Th ...
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Showing 1706 to 1710 news of total 6871 |
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- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- The University of Queensland
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
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