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.
|
|
Monday, 01 November 21
COAL PRICES HAVE FURTHER ROOM TO DROP: TOP ECONOMIC PLANNER - GLOBAL TIMES
China’s top economic planner said coal prices have further room to drop on Friday, as the most traded coal futures dropped to below 1,000 yua ...
Saturday, 30 October 21
CHINA'S COAL PRICES SEE BIGGEST WEEKLY FALL IN MORE THAN 5 YEARS - REUTERS
China’s coal futures prices saw their biggest fall in more than five years after the powerful state planner said there is still room to adjus ...
Saturday, 30 October 21
G-20 LEADERS PREPARE STATEMENT TO STOP FUNDING FOREIGN COAL PLANTS - BLOOMBERG
Leaders of the Group of 20 wealthy economies are preparing to pledge to stop funding foreign coal-fired plants, but are still wrangling over climat ...
Friday, 29 October 21
APAC THERMAL COAL SUPPLY TO REMAIN TIGHT AS WINTER LOOMS - FITCH RATINGS
APAC thermal coal prices have surged, hitting historically high levels. The benchmark Newcastle 6,000kcal/kg grade coal reached USD228/tonne in mid ...
Thursday, 28 October 21
CANADA BAN ON SHIPPING COAL WOULD EQUAL SCRAPPING AS MANY AS 3 MILLION CARS - IEEFA
Canada ban on shipping coal would equal scrapping as many as 3 million cars
Change in Canadian policy could have major implications ...
|
|
|
Showing 426 to 430 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Planning Commission, India
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
|
| |
| |
|
