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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, 19 August 20
COAL INDIA TRADE UNIONS DEFER DAY-LONG STRIKE: PTI
The unions had decided to go on strike against the commercial mining and the proposed divestment or buyback of shares of Coal India Ltd (CIL).
...
Wednesday, 19 August 20
MISC MARKS ITS MAIDEN FORAY INTO MAJOR DEEP-WATER PROJECT IN LATIN AMERICA WITH MERO 3 FPSO
MISC Berhad (MISC) is pleased to announce its acceptance of Letter of Intent (LOI) from Petróleo Brasileiro S.A. (Petrobras) for the provisi ...
Wednesday, 19 August 20
MARKET INSIGHT - GEORGE LAIOS | INTERMODAL
Since the Covid-19 outbreak, governments and central banks around the globe have been using their ammunition and stimulus packages to keep their ec ...
Wednesday, 19 August 20
INDIA SAW A SHARP DECLINE IN ENERGY COAL IMPORTS IN JANUARY - JUNE 2020; –27 PER CENT YOY - BHP
Energy coal prices were weak in the second half of financial year 2020, BHP says in its Economic and Commodity Outlook FY20.
Accordi ...
Wednesday, 19 August 20
COAL PRICES TO REMAIN SUBDUED THIS FISCAL AMID WEAK DEMAND, HIGH INVENTORY - THE HINDU BUSINESS LINE
Coal offtake is improving gradually as lockdown eases
Coal prices are expected to remain subdued to weak demand and high inventory l ...
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- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Bhatia International Limited - India
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- The University of Queensland
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
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