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