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, 10 February 21
FY21 COAL DEMAND MAY BE LOWER THAN PREVIOUSLY ESTIMATED DUE TO COVID-19: PRALHAD JOSHI - PTI
Coal demand in the current fiscal may be lower than the initial estimate of 1,085 million tonnes (MT) due to the impact of COVID-19, Parliament was ...
Wednesday, 10 February 21
MARKET INSIGHT - INTERMODAL
We have just entered February, Chinese New Year holidays are about to start and the SnP market for bulkers is so hot as every seller would dream of ...
Tuesday, 09 February 21
SWITCHING COAL PLANTS TO PLN'S BIOMASS COFIRING PLAN IS NO MAGIC BULLET - IEEFA
Implementation risks for Indonesia PLN's switch from coal to biomass cofiring
PLN’s biomass cofiring plan will require not ...
Friday, 05 February 21
THE INDONESIA COAL PRICE REFERENCE FOR FEBRUARY 2021 SETTLES AT US$ 87.79 PER TON FOB VESSEL
COALspot.com: The Indonesia coal price reference for February 2021 settles at US$ 87.79 per ton FOB vessel. The February reference price is the hig ...
Thursday, 04 February 21
WHY BANGLADESH SHOULDN’T COUNT ON A FOSSIL FUEL FUTURE - IEEFA
Around US$50 billion of LNG projects in Asia at risk of cancellation
Two astonishing figures have circulated in the Asian energy sector in the ...
|
|
|
Showing 641 to 645 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Bhatia International Limited - India
- Posco Energy - South Korea
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- Planning Commission, India
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
|
| |
| |
|
