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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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Monday, 07 May 18
SOUTH KOREA STATE-OWNED UTILITY KOREA MIDLAND POWER ISSUED A TENDER FOR 1 MILLION TONS OF BITUMINOUS COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 520,000 mt of min. 5700 NAR coal of Australian origi ...
Monday, 07 May 18
GLOBAL COAL DEMAND ROSE ABOUT 1% IN 2017; ASIA ACCOUNTED FOR THE LARGEST INCREASE IN COAL DEMAND, UP 35 MTOE RELATIVE TO 2016 - IEA
Global coal demand rose about 1% in 2017, reversing the declining trend seen over the last two years. This growth was mainly due to demand in Asia, ...
Friday, 04 May 18
ELECTRICITY GENERATION FROM RENEWABLES WAS SECOND ONLY TO COAL IN 2017 - IEA
World electricity demand increased by 3.1 %, significantly higher than the overall increase in energy demand. Together, China and India accounted f ...
Thursday, 03 May 18
SUPRAMAX: INDO - CHINA COAL ROUNDS ARE PAYING IN THE LOW-MID $12000 BSS SINGAPORE DELIVERY - FEARNLEYS
Supramax
As expected a slow and uneventful start to the week with holidays in many countries, however by mid-week some fresh requirements and pos ...
Tuesday, 01 May 18
SUPRAMAX: COAL RUNS, A 61,000-DWT WAS FIXED BASIS DELIVERY SURABAYA, FOR A TRIP VIA INDONESIA, RE-DELIVERY INDIA AT $15,000 - BALTIC BRIEFING
Capesize
Rates eased in the East, as the week closed out with the momentum slowing. Levels on the key West Australia/China run dropped to $7.25 ...
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Showing 1726 to 1730 news of total 6871 |
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- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Australian Coal Association
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- The University of Queensland
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
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