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Monday, 06 April 20
INDIA'S 21-DAY LOCKDOWN - IMPACT ON COMMODITIES? - WOOD MACKENZIE
 India is under a three-week lockdown from 25 March, to contain the spread of the coronavirus outbreak. Wood Mackenzie analysts discuss what this means for the power, coal, gas and LNG, and oil products sectors.
Impact on power and coal demand
Principal analyst Pralabh Bhargava said: “India’s power demand has declined on average 30% year-on-year (yoy) and 25% week-on-week basis on 28 March. Demand from the industrial and commercial sectors are already falling. Load shape is moving to residential from industrial due to teleworking and home-schooling. We expect an average overall power demand decline of 35% until 14 April and a progressive recovery thereafter.
“Coal stocks at power plants and mines reached record highs of 40 million tonnes (Mt) and 60 Mt by 25 March, and many are already rejecting shipments from Coal India. This situation is due to lower thermal coal demand over the last 15 days and robust production in recent months.
“Movement of imported coal will be restricted due to constraints at ports and infrastructure. We expect the Force Majeure announced by port operators to have a limited impact on coal imports, as it is considered an ‘essential’ service.”
Impact on gas and LNG
Senior analyst Vidur Singhal said: “The transport and industrial sectors have been impacted. The average daily gas consumption across sectors stood at around 151 mmcm/d (million cubic metres per day) in 2019. We expect about 18-20% reduction in daily gas demand post lockdown. Also, demand from refineries and fertiliser plants, and anchor gas customers, have reduced in line with their utilisation rates with significant downside risk if the lockdown is extended.
“Gas aggregators are in a tight spot. LNG buyers declared Force Majeure once port operations stopped. Regas terminals were oversupplied heading into the lockdown as all major buyers procured low-priced spot volumes in advance. Even long-term LNG volumes are at risk as demand shrinks.”
Impact on oil products demand and refining
Research analyst Qiaoling Chen said: “We estimate that gasoline, jet fuel, and diesel demand will be down by 25%, 33%, and 13% yoy respectively in the second quarter while fuel oil, refinery gas demand will decline by 8%, 20% respectively at the same time.
“Overall, total demand is expected to decline by 871,000 barrels per day (b/d) (-17%) yoy in April. The negative impact is likely to last through Q2 2020 with most oil products returning to normal growth in the third quarter of this year except for jet fuel demand, which is expected to return to normal growth only in the first quarter of next year.”
On refining, research analyst Kendrick Ng said: “Refiners are reducing runs in response to lower oil products demand and weakness in refining margins. We estimate that the country will process about 800,000 b/d less crude in April, month-on-month basis, resulting in about 17% decline in the utilisation rate.
“Indian PSUs (public sector undertaking) are expected to be hurt the most amid tepid domestic demand, high storage level and lesser access to export markets, especially inland refineries.”
Source: Wood Mackenzie
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Thursday, 01 July 21
WHY INDIA’S SOLAR POWER TARIFFS ARE CLIMBING AFTER HITTING RECORD LOWS LAST YEAR - IEEFA
What’s behind the recent increase?
Solar tariffs are deflationary. Prices have fallen by 75% in seven years in India, and in 2 ...
Thursday, 01 July 21
END TO COAL POWER BROUGHT FORWARD TO OCTOBER 2024
Press Release: The deadline to phase out coal from Great Britain's energy system has been brought forward by a whole year, highlighting the UK& ...
Thursday, 01 July 21
WHY BUILD 600 NEW UNPROFITABLE COAL PLANTS? - DEUTSCHE WELLE
Governments in Asia are planning 600 new coal plants that could lose investors $150 billion and derail efforts to limit temperature rise in line wi ...
Thursday, 01 July 21
FIVE ASIAN COUNTRIES ACCOUNT FOR 80% OF NEW COAL POWER INVESTMENT - THE GUARDIAN
Five Asian countries are jeopardising global climate ambitions by investing in 80% of the world’s planned new coal plants, according to a rep ...
Wednesday, 30 June 21
DELTA DUNIA MAKMUR RECORDED AN IMPROVED REVENUE IN Q1 2021; REVENUE INCREASED BY 49% QOQ TO US$160 MILLION ON THE BACK OF COAL PRICE RECOVERY
PT Delta Dunia Makmur Tbk. (“DOID”) released its consolidated financial and operating results that include its primary and wholly-owned ...
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- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
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- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Latin American Coal - Colombia
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- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
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- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
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- McConnell Dowell - Australia
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- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- White Energy Company Limited
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
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- Karbindo Abesyapradhi - Indoneisa
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- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
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- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
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- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
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- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
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- Economic Council, Georgia
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- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
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- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
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- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
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- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
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