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, 20 February 18
INDIA: COAL IMPORT RISES BY 12 PER CENT TO 18 MILLION TONNES IN JANUARY - PTI
The country’s coal import increased by 12.4 per cent to 18.49 million tonnes (MT) in January, against 16.
44 MT in the same month of the ...
Monday, 19 February 18
JOINT INSURANCE - WHY SHOULD YOU CARE? - SKULD
KNOWLEDGE TO ELEVATE
It is neither controversial nor new to say that co-assureds under a joint insurance policy cannot claim against each othe ...
Friday, 16 February 18
U.S. WEEKLY COAL OUTPUT DOWN 4.5 PER CENT WEEK OVER WEEK, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.2 million short tons ...
Thursday, 15 February 18
INDIA: THERMAL POWER PLANTS UNDER STRESS ON RISING COAL, FREIGHT COSTS - BUSINESS STANDARD
Coal-based power plants are feeling the heat of spike in thermal grade coal prices and railway freight costs.
Prices of thermal grade coal sin ...
Wednesday, 14 February 18
HISTORY REPEATING ITSELF? - IEA
This month’s OMR is abbreviated to allow time for us to complete our annual five-year outlook that will be published in our report Oil 2018 o ...
|
|
|
Showing 1801 to 1805 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Economic Council, Georgia
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
|
| |
| |
|
