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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, 27 January 21
MARKET INSIGHT - INTERMODAL
As we have entered the era off renewable energies, all industries globally give max effort to minimize their carbon footprint and consequently thei ...
Monday, 25 January 21
ULTRAMAX YET ANOTHER POSITIVE WEEK FOR THE SECTOR, WHICH SAW INCREASED DEMAND ACROSS ALL BASINS - BALTIC BRIEFING
Capesize
The Capesize market rocked and rolled these past few days. But by weeks end little had changed on the Capesize 5TC as it settled down ...
Monday, 25 January 21
NEW LAW IN CALIFORNIA, USA, AFFECTING SHIPOWNERS' LIABILITY FOR OIL POLLUTION - BIMCO
Members are advised that amendments to the so-called Lempert-Keene-Seastrand Oil Spill Prevention and Response Act of 1990 in the State of Californ ...
Monday, 25 January 21
COAL INDIA SAYS GEARED UP TO MEET SURGE IN FUEL DEMAND FROM POWER SECTOR - PTI
State-owned Coal India Ltd on Saturday said that it is well geared to meet any surge in demand for coal from the power sector.
The s ...
Sunday, 24 January 21
GOVT ASSURES COAL INDIA OF 'FULL SUPPORT', STRESSES ON LEARNING 'NEW THINGS' - PTI
Coal Minister Pralhad Joshi assured Coal India of full government support, even as he said the PSU needs to learn “new things” for impr ...
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- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- The University of Queensland
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Australian Coal Association
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
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