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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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Wednesday, 30 May 18
SHIPPING MARKET INSIGHT - ILIAS M. LALAOUNIS
Among several hot topics that will be discussed during the Posidonia week, the International Maritime Organization regulation that will be enforced ...
Tuesday, 29 May 18
BLOCKCHAIN CAN HAVE A TRANSFORMATIVE EFFECT ON THE SHIPPING INDUSTRY
KNOWLEDGE TO ELEVATE
Following the launch of a legal briefing on blockchain contracts from UK P&I Club, Claims Executive, Filip Koscieleck ...
Tuesday, 29 May 18
INDIA'S COAL IMPORT DECLINES IN APRIL AMID DIVERSION TO THERMAL POWER PLANTS - PTI
India’s coal import fell by 9 percent to 17.32 million tonnes (MT) in April on the back of ample supply of dry fuel from domestic sources.
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Monday, 28 May 18
COAL SUPPLY DIVERSION IRKS INDUSTRIES DEPENDENT ON CAPTIVE POWER PLANTS - HINDU BUSINESS LINE
The government’s move to prioritise coal supplies to power plants with minimal coal stock has disrupted fuel supply to some sectors, which ha ...
Monday, 28 May 18
KOMIPO ISSUED ANOTHER TENDER FOR 130K MT OF 5700 NAR COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 130,000 mt of min. 5700 NAR coal of Australian origi ...
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Showing 1711 to 1715 news of total 6871 |
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- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Siam City Cement - Thailand
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