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, 06 November 17
THE THERMAL COAL MARKET CAME UNDER SOME PRESSURE AS THE OUTLOOK FOR DEMAND WEAKENED - DANIEL HYNES
Commodities were mixed as investors grappled with a revised tax plan in the US amid a rising USD said Daniel Hynes in his linked in post.
Acco ...
Monday, 06 November 17
THE FREIGHT MARKET WAS CONTINUED TO SOFTEN THIS PAST WEEK; BCI DOWN 184 POINT WEEK OVER WEEK
COALspot.com: The freight market was continued to soften this past week compared to the previous week, as BDI and all segments except Panamax index ...
Friday, 03 November 17
U.S. COAL PRODUCTION FELL WEEK-OVER-WEEK, EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.5 million short ton ...
Wednesday, 01 November 17
SHIPPING MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
As it was expected, the strong dry bulk freight market of the past couple of months has inspired similar activity in the second-hand market. Noneth ...
Tuesday, 31 October 17
BALTIC DRY INDEX TAKES A BREAK FROM ITS UPWARD RALLY COURSE - GEORGE LAZARIDIS
It has been a week of corrections for the dry bulk freight market as it seems as the general Baltic Dry Index takes a break from its upward rally c ...
|
|
|
Showing 1896 to 1900 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
|
| |
| |
|
