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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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Wednesday, 22 November 17
CHINA CONSUMES MORE THAN TWO-THIRDS OF THE GLOBAL SEABORNE IRON ORE MARKET; PRODUCES AS MUCH STEEL AS THE REST OF THE WORLD COMBINED - CHRISTOPHER T. WHITTY
China consumes more than two-thirds of the global seaborne iron ore market and at the same time produces as much steel as the rest of the world com ...
Monday, 20 November 17
INDONESIAN COAL BENCHMARK PRICE SURGES 0.86% TO $94.80 A TON, GOVERNMENT DATA SHOWS
COALspot.com: Indonesian coal benchmark price surges 0.86% in November compared to declared price in October, the latest ministerial decree showed. ...
Friday, 17 November 17
U.S. PRODUCED 678.8 MMST OF COAL YEAR TO DATE; 9% UP Y/Y, EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.8 million short ton ...
Thursday, 16 November 17
PANAMAX ACTIVITIES HAVE SLOWED DOWN QUITE SUBSTANTIALLY THE LAST WEEK - FEARNLEYS
Supramax
Another week with rates easing over all the Supra routes within Atlantic.
Front hauls from USG got payed around 21-22k daily and ul ...
Thursday, 16 November 17
KOMIPO INVITED BIDS FOR 3.9 MILLION TONS OF 5700 NAR AND 5400 NAR COAL FOR 2018 - 2020 DELIVERY
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued an another new tender for total 3,900,000 Metric Tons of min. 570 ...
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Showing 1871 to 1875 news of total 6871 |
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- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- VISA Power Limited - India
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
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