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, 05 December 17
THE COKING AND THERMAL COAL RECORDING SMALL GAINS - DANIEL HYNES
Coal markets were higher, with both coking and thermal coal recording small gains, said Daniel Hynes Senior Commodity Strategist at ANZ in his late ...
Tuesday, 05 December 17
WEEKLY US COAL PRODUCTION ESTIMATES DIP WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.1 million short ton ...
Thursday, 30 November 17
CONTEMPLATING COAL'S CONTROVERSY AT COP23 - BENJAMIN SPORTON
Representing the coal industry at climate talks is never going to be an easy proposition. For many people, coal and climate action are incompatible ...
Wednesday, 29 November 17
THE LAST DAYS OF COAL? - ALIBRA SHIPPING
At least 15 countries have joined an international alliance to phase out coal use for power generation before 2030.
Britain, Canada, Denmark, ...
Wednesday, 29 November 17
THERMAL COAL MARKETS WERE A LITTLE BIT MORE SUBDUED - DANIEL HYNES, ANZ
Coal prices were stronger, led by gains in coking coal. Premium hard coking coal jumped above USD200/t for the first time in two months, said Danie ...
|
|
|
Showing 1861 to 1865 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Parliament of New Zealand
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- London Commodity Brokers - England
- India Bulls Power Limited - India
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Economic Council, Georgia
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
|
| |
| |
|
