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.
|
|
Wednesday, 16 June 21
MARKET INSIGHT - INTERMODAL
“While approaching the second half of the year and summer season is just around the corner, COVID vaccination programs are steadily moving fo ...
Monday, 14 June 21
'WISHFUL THINKING': WHY CHINA NEEDS AUSTRALIAN IRON ORE FOR 'MANY YEARS' TO COME - YAHOO FINANCE AU
A “wintry period”.
That’s what’s expected to happen to Australia’s economy “when” China st ...
Sunday, 13 June 21
COAL AND LNG’S SURGE IN ASIA PLAYS INTO RENEWABLE ENERGY HANDS - REUTERS
Liquefied natural gas (LNG) and thermal coal prices in Asia have been roaring ahead in recent months amid strong demand, but while welcome news for ...
Friday, 11 June 21
5 REASONS GLOBAL SHIPPING COSTS WILL CONTINUE TO RISE - ING
No short-term relief
Shipping costs have been growing strongly since the autumn of 2020, but the first months of this year have seen a new surg ...
Friday, 11 June 21
ASIA COAL PRICES SURGE, BUT CHINA-AUSTRALIA DISPUTE MEANS RALLY IS UNEVEN - REUTERS
Thermal coal prices across Asia have surged to multi-year highs amid strong demand and some supply constraints, but some types of the fuel have don ...
|
|
|
Showing 551 to 555 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- The University of Queensland
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Thai Mozambique Logistica
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- ASAPP Information Group - India
- GMR Energy Limited - India
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
|
| |
| |
|
