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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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Tuesday, 09 June 20
BUNKER SUPPLY CONTRACTS - KEY CONSIDERATIONS FOR THE BUYER - GARD
KNOWLEDGE TO ELEVATE
Regardless of whether a buyer purchases fuel directly from physical suppliers or via brokers or traders and whether sale ...
Tuesday, 09 June 20
INDIA: COAL IMPORT DROPS BY 20% TO NEARLY 19 MILLION TONNES IN MAY, SAYS REPORT - HINDUSTAN TIMES
The country’s coal import dropped by 20 per cent to 18.93 million tonnes (MT) last month, industry data showed.
The government ...
Monday, 08 June 20
WOOD MACKENZIE: THE INDISPENSABLE OPEC+
Rumours of “the death of OPEC” have been circulating for almost as long as the organisation has existed. Just three years after the car ...
Monday, 08 June 20
CHINA'S COAL IMPORTS FALL NEARLY 20% IN MAY EVEN AS DEMAND RISES - REUTERS
China’s coal imports in May fell nearly 20% compared with a year earlier even as demand recovered at power plants and industrial users, custo ...
Monday, 08 June 20
JUNE 2020 INDONESIAN COAL PRICE REFERENCE HIT US$ 52.98 A TON, ITS LOWEST LEVEL SINCE AT LEAST AUGUST 2016
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
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- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
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