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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, 27 May 21
KOMIPO INVITED BIDS FOR 1.56 MILLION TONS OF BITUMINOUS COAL
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) has issued an international tender for total 1,560,000 MT of Bituminous Coal to be used a ...
Thursday, 27 May 21
CHINA POWER DEMAND EXCEEDS PRE-COVID-19 LEVELS; THERMAL OUTPUT STRONG - FITCH RATINGS
Rising Consumption: Total power consumption rose by 21.2% yoy to 1,921.9GWh in 1Q21 due to the fast recovery of China’s economy, after a drop ...
Thursday, 27 May 21
CHINA'S POWER DEMAND EXCEEDS PRE-PANDEMIC LEVELS; RENEWABLES TO DRIVE DEVELOPMENT - FITCH RATINGS
China's power consumption exceeded the pre-Covid-19 levels in 1Q21 due to the country's fast economic recovery, with strong output from the ...
Wednesday, 26 May 21
THE INDONESIA COAL PRICE REFERENCE FOR MAY 2021 SETTLES AT US$ 89.74 PER TON
COALspot.com: The Indonesia coal price reference for May 2021 settles at US$ 89.74 per ton FOB vessel.
The Indonesia coal pric ...
Wednesday, 26 May 21
MARKET INSIGHT - INTERMODAL
Last year crude tankers’ newbuilding contracting activity was devastated by the economic effects of the Covid-19 pandemic and the cloud of un ...
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- Eastern Coal Council - USA
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Parliament of New Zealand
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- Australian Coal Association
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
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