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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 September 20
MARKET INSIGHT - INTERMODAL
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Wednesday, 02 September 20
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Tuesday, 01 September 20
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Tuesday, 01 September 20
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Monday, 31 August 20
DEFECTIVE PASSAGE PLANNING: UNSEAWORTHINESS OR A NAVIGATIONAL DECISION? THE CMA CGM LIBRA QUESTION SAILS ON TO THE UK SUPREME COURT - GARD
KNOWLEDGE TO ELEVATE
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- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- VISA Power Limited - India
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- The University of Queensland
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Minerals Council of Australia
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- White Energy Company Limited
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
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