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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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Monday, 28 September 20
NEW LNG PROJECTS - ALL DRESSED UP AND NO PLACE TO GO - WOOD MACKENZIE
It was meant to be another boom year. After a record 70 mmtpa of new LNG capacity was sanctioned in 2019, at least as much capacity was lined up fo ...
Thursday, 24 September 20
SUPRAMAX: INDO TO INDIA FIXING AROUND US$13,000 - FEARNLEYS
Cape
Over the last week the iron ore segment from Brazil to China has picked up, and we see freight rates up USD 2 (12%) week on week Fearnleys ...
Thursday, 24 September 20
KOREA MIDLAND POWER TO BUY 1.92 MILLION TONS OF 4,300-4,700 NCV COAL FOR THREE YEARS
COALspot.com: Korea Midland Power Co. Ltd, has issued an International tender for 640,000 MT 4,300-4,700 kcal/kg NCV coal per year.
...
Wednesday, 23 September 20
VIETNAM'S NEW POWER DEVELOPMENT PLAN MUST OPTIMIZE RENEWABLES AND AVOID FOSSIL FUEL LOCK-IN: IEEFA
EVN’s financial constraints leaves the utility with little room for error
Implementing Vietnam’s soon-to-be-launched next Power De ...
Wednesday, 23 September 20
MARKET INSIGHT - INTERMODAL
Undoubtedly, this year (ongoing) will never be forgotten because in a matter of months it has managed to severely affect and shape our day to day p ...
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- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- PowerSource Philippines DevCo
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Aditya Birla Group - India
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Parliament of New Zealand
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- CNBM International Corporation - China
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- PTC India Limited - India
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
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