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.
|
|
Thursday, 07 January 21
FITCH FORECASTS DOUBLING IN ASIAN WIND, SOLAR CAPACITY BY 2029, TOPPING 1,500GW
Despite some near-term delays due to the Covid-19 pandemic, solar power and offshore wind will drive steep growth in non-hydro renewables in Asia, ...
Wednesday, 06 January 21
INDONESIA EXCEEDS COAL PRODUCTION TARGET IN 2020
Indonesian coal production reached 557.54 Million Tons in 2020 1.37% higher than of last year’s total target of 550.00 Million Tons, accordin ...
Wednesday, 06 January 21
CHINESE CITIES REPORTEDLY GO DARK AS COUNTRY FACES SHORTAGE OF COAL, A MAJOR AUSTRALIAN EXPORT - CNBC
Several major Chinese cities have reportedly gone dark as authorities limit power usage, citing a shortage of coal.
Analysts said pr ...
Tuesday, 05 January 21
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP - XINHUA
China Taiyuan coal transaction price index stood at 136 points Monday, up 0.91 percent week on week.
The index, released by China Ta ...
Tuesday, 05 January 21
THE INDONESIA COAL PRICE REFERENCE SOARS TO HIGHEST ONE-MONTH INCREASE SINCE DECEMBER 2016
COALspot.com: The Indonesia coal price reference for January 2021 settles above $75 for the first time since July 2019 and to highest one-month inc ...
|
|
|
Showing 676 to 680 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- PTC India Limited - India
- White Energy Company Limited
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
|
| |
| |
|
