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.
|
|
Saturday, 05 June 21
IT'S TIME FOR THE BIDEN ADMINISTRATION TO CHAMPION RENEWABLE ENERGY IN THE PHILIPPINES, NOT NUCLEAR OR FOSSIL GAS - IEEFA
Fossil gas and nuclear investments risk locking in costly, outdated infrastructure for the long-term
The United States has spent the ...
Friday, 04 June 21
NEW COAL-FIRED POWER PLANTS IN INDIA WILL BE ECONOMICALLY UNVIABLE - IEEFA
Coal capacity additions face major stranded asset risk
Much of India’s 33 gigawatts (GW) of coal-fired power capacity currently under co ...
Thursday, 03 June 21
JUNE HBA IS HITTING ABOVE $100 AND SETTLED AT ITS HIGHEST SINCE OCTOBER 2020
COALspot.com: The Indonesia coal price reference for June 2021 settles at US$ 100.33 per ton FOB vessel.
The Indonesia coal pr ...
Wednesday, 02 June 21
INDONESIA RV WAS DOWN TO LOW/MID $20,000S DAY FOR PANAMAX/KAMSARMAX WITH DELIVERY S CHINA - BANCHERO COSTA
Panamax
A softening week in the Pacific basin with rates under a downward pressure mainly caused by the oversupply of tonnage in the area, said ...
Wednesday, 02 June 21
EUROPEAN UNION'S IRON ORE IMPORTS - BANCHERO COSTA
The European Union (27) is currently the fourth largest importer of iron ore in the world, after China, Japan, and South Korea.
Euro ...
|
|
|
Showing 561 to 565 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Trasteel International SA, Italy
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
|
| |
| |
|
