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, 13 October 21
MARKET INSIGHT - INTERMODAL
Following up on our insight on May 2021, where we discussed about the Capesize market outlook for the second half of the year, we are pleased to se ...
Wednesday, 13 October 21
FBX INDEX: THE IMPOSSIBILITY OF SHORT-TERM FORECASTING - LARS JENSEN
Will freight rates on Asia-Europe or the Transpacific reach 40.000 USD/FFE in the run-up prior to Chinese New Year 2022? Or will they start droppin ...
Wednesday, 13 October 21
CHINA FLOODS: COAL PRICE HITS FRESH HIGH AS MINES SHUT - BBC
The price of coal used in China’s power plants has surged to a new record high as another of the country’s key mining regions is hit by ...
Tuesday, 12 October 21
BUMA SIGNS CONDITIONAL AGREEMENT FOR AUSTRALIAN ASSET ACQUISITION
PT Tbk. announced that its subsidiary, PT Bukit Makmur Mandiri Utama, through its newly incorporated Australian subsidiary, BUMA International Pty ...
Tuesday, 12 October 21
INDONESIA'S COAL-BASED POWER PLANTS ARE SUBJECT TO CARBON TAX NEXT YEAR, ELECTRICITY COSTS COULD RISE! - CNBC
The Indonesian government is planning plans to implement a carbon tax of IDR 30 per kilogram (kg) of carbon dioxide equivalent (CO2e) or equivalent ...
|
|
|
Showing 461 to 465 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
|
| |
| |
|
