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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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Thursday, 11 June 20
JAN-MAY, INDONESIA SHIPPED 175.15 MILLION TONS OF COAL TO ITS OVERSEAS BUYERS
Indonesia's coal production for the first 5 months of this year have reached 228 million tons. January – May 2020, Indonesia shipped US$ ...
Thursday, 11 June 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Wednesday, 10 June 20
OPEC+ CUTS EXTENSION TO ACCELERATE MARKET REBALANCING - FITCH RATINGS
Fitch Ratings-London-08 June 2020: The OPEC+ agreement to extend by one month record oil production cuts should accelerate market rebalancing, Fitc ...
Wednesday, 10 June 20
MARKET INSIGHT - INTERMODAL
In contrast to the economic projections of the past two years for the first half of 2020, the oil & gas industry and those involved in it faced ...
Wednesday, 10 June 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.19 PCT - XINHUA
China Taiyuan coal transaction price index stood at 123.71 points Monday, down 0.19 percent week on week.
The index, released by Chi ...
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- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Australian Coal Association
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- Minerals Council of Australia
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
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