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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, 17 June 20
MARKET INSIGHT - INTERMODAL
After experiencing record earnings during the first half of the year, the focus of headlines concerning the tanker market has shifted from the deve ...
Wednesday, 17 June 20
KOREA SOUTHERN POWER CO INVITED 80000 MT OF LOW CALORIFIC VALUE COAL FOR AUGUST 1H, 2020 LOADING
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 80,000 Metric Tons (MT) Min 4,200 kcal/kg - Max. ...
Tuesday, 16 June 20
A GLOBAL ECONOMIC SLUMP: WHAT WILL IT MEAN FOR METALS AND MINING? - WOOD MACKENZIE
Back before coronavirus knocked “normal” out cold, the key issues for miners were sub-investment prices, rising requirements for ESG an ...
Tuesday, 16 June 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.58 PCT - XINHUA
China Taiyuan coal transaction price index stood at 124.43 points Monday, up 0.58 percent week on week.
The index, released by China ...
Tuesday, 16 June 20
HIGHER IRON ORE PRICES OFFSET CORONAVIRUS-DRIVEN PRODUCTION RISK - FITCH RATINGS
Lower iron ore production in Brazil, resulting from rising coronavirus infections, should only marginally affect the cash flow of Vale and other gl ...
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- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Parliament of New Zealand
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- The University of Queensland
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
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