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, 03 October 17
ALLIED MARKET ANALYSIS
It seems as though the future of the oil trade was once again put into the spotlight, as the Asia Pacific Petroleum Conference took place last week ...
Friday, 29 September 17
U.S WEEKLY COAL OUTPUT DROPS FOR THE FIFTH WEEK IN A ROW, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.7 million short ...
Thursday, 28 September 17
SUPRAMAX: S.CHINA TRIP TO INDIA HAS BEEN FIXED AT AROUND US$ 11000 - FEARNLEYS
Supramax
The hot market seen the last weeks in the Pacific has softened as the Golden week holiday in China approaches and the October shipments ...
Thursday, 28 September 17
THE 'UNREASONABLE' COST OF CASUALTY REPAIRS: ASSOCIATION OF AVERAGE ADJUSTERS CHAIRMAN DETAILS CLAIMS DILEMMAS
KNOWLEDGE TO ELEVATE
The ‘unreasonable’ cost of casualty repairs: Association of Average Adjusters chairman details claims dilemma ...
Thursday, 28 September 17
CHINESE GOVERNMENT TO CANCEL DOMESTIC IRON ORE MINING RIGHTS - JEFFREY LANDSBERG
It has been reported that China will cancel roughly one third of its iron ore mining licenses, says Commodore Research & Consultancy in its lat ...
|
|
|
Showing 1926 to 1930 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Australian Coal Association
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- White Energy Company Limited
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- Vedanta Resources Plc - India
|
| |
| |
|
