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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, 02 December 20
INDONESIA CONSIDERING CLOSING 3,400MW SURALAYA COAL PLANT - THE JAKARTA POST
The government is considering to shut down the aging Suralaya coal-fired power plant (PLTU) in Cilegon, Banten, and replace it with green energy, a ...
Wednesday, 02 December 20
MARKET INSIGHT - INTERMODAL
It has been another busy week in the dry bulk secondhand market; a healthy number of sales reported predominantly from Japanese owners while owner& ...
Thursday, 26 November 20
DECLINE IN COAL EXPORTS ADDS TO NAVAJO-OWNED COMPANY'S PROBLEMS - IEEFA U.S.
Weak demand and low prices are likely creating steep losses for NTEC
U.S. coal exports to Asia—once heralded as the saving gra ...
Thursday, 26 November 20
COAL FINANCING QUICKLY DRYING UP WORLDWIDE - ANALYSTS : REUTERS
Financing for coal projects is drying up at ever increasing rates as more countries target zero carbon emissions amid an energy transition sweeping ...
Wednesday, 25 November 20
LIBOR REPLACEMENT AND SHIP FINANCE - WHERE IS IT HEADING? - WFW
The likely replacement of the LIBOR at the end of 2021 creates difficult technical and practical issues for all sectors of business and finance. Th ...
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- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- GMR Energy Limited - India
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
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