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.
|
|
Monday, 12 March 18
DRY BULK MARKET: CAPESIZE MARKET FINDS ITS FOOTING - BALTIC BRIEFING
Capesize
Some relief for owners as the week closed out with the market finding a floor in the East. Rates on the key West Australia/China run loo ...
Monday, 12 March 18
COAL OUTPUT FROM PRIVATE MINERS UNLIKELY TO RISE IN MEDIUM TERM: ICRA
Coal output levels from private commercial miners are unlikely to go up considerably in the medium to short term, given the issues related to land ...
Saturday, 10 March 18
ENHANCED PRODUCTION BY COAL INDIA HELPS DECLINE IN COAL IMPORTS
As per the current import policy, coal is kept under Open General License (OGL) and consumers are free to import coal from the source of their choi ...
Saturday, 10 March 18
THE 'RENOS' - COURT OF APPEAL CLARIFIES CTL CALCULATION AND RIGHT OF ABANDONMENT - CLYDE & CO
KNOWLEDGE TO ELEVATE
In the matter of the “RENOS”, Mr Justice Knowles addressed a number of issues, at first instance, regarding t ...
Friday, 09 March 18
THE WORLD CANNOT KEEP IGNORING THE ASIAN COAL STORY - BENJAMIN SPORTON
There were significant changes in the global energy system in 2017, including the growth in electric vehicles, the rise of renewables and the conti ...
|
|
|
Showing 1776 to 1780 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Planning Commission, India
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- The University of Queensland
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
|
| |
| |
|
