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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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Wednesday, 12 May 21
U.S. COAL PRODUCTION TO INCREASE BY 43 MMST IN 2021 TOTAL 582 MILLION SHORT TONS - EIA
U.S. energy Information Administration expects U.S. coal production to total 582 million short tons (MMst) in 2021, 43 MMst (8%) more than in 2020. ...
Wednesday, 12 May 21
MARKET INSIGHT - INTERMODAL
Tanker S&P is finally back!
For an extended period, Dry bulk & Wet market rates have been diverging, with the SnP deals on each sect ...
Monday, 10 May 21
PAKISTAN: COAL GASIFICATION AND LIQUEFACTION HARMFUL TO ECONOMY - IEEFA
There is no second life for coal
Pakistan’s intention to use coal for power production through gasification and liquefaction technologie ...
Sunday, 09 May 21
HERE'S WHY INVESTORS ARE POURING MONEY INTO COAL, DESPITE ITS BLEAK FUTURE - FORBES
Coal stocks have surged this year – along with the wider energy sector – but experts warn these are likely short-term gains for an indu ...
Sunday, 09 May 21
MAYBANK TO STOP COAL FINANCING - BERNAMA
Malayan Banking Bhd (Maybank) will stop financing new coal activities as part of its sustainable agenda.
Currently, coal financing m ...
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- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
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- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
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- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- VISA Power Limited - India
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- ICICI Bank Limited - India
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- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
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- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Thai Mozambique Logistica
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- Antam Resourcindo - Indonesia
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- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Planning Commission, India
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
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- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
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- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
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- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
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