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, 27 March 18
SHIPPING MARKET ANALYSIS - GERRY LATHROP
With the almost complete phase out of Tier II new-building slots on our door step, along with the plethora of emissions related articles seemingly ...
Friday, 23 March 18
RIO TINTO AGREES SALE OF HAIL CREEK AND VALERIA TO GLENCORE FOR $1.7 BILLION
Press Release: Rio Tinto has entered into a binding agreement with Glencore for the sale of its entire interests in the Hail Creek coal mine and th ...
Wednesday, 21 March 18
CHINA'S RAW COAL OUTPUT UP IN 2017, FIRST GROWTH SINCE 2014 - XINHUA
China’s raw coal output rose in 2017 due to rebounding demand and high-quality capacity, according to the National Bureau of Statistics (NBS) ...
Wednesday, 21 March 18
MARKET INSIGHT - CHRISTOPHER T. WHITTY
President’s Trump administration proposed tariffs on steel and aluminum imports in an attempt to target China and Europe among others. Earlie ...
Tuesday, 20 March 18
SHIPPING MARKET ANALYSIS - GEORGE LAZARIDIS
It has been a chilling start to the week for the global economy, with the vast majority of stock exchanges noting a fair drop, after a series of se ...
|
|
|
Showing 1761 to 1765 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Planning Commission, India
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- PTC India Limited - India
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
|
| |
| |
|
