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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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Sunday, 07 June 20
A SCRUBBER FITTED 61,000 ULTRAMAX WAS FIXED DELIVERY PHILIPPINES TRIP VIA SOUTH AFRICA REDELIVERY VIETNAM AT $9,500 - BALTIC BRIEFING
Capesize
The small flicker of hope at the beginning of this week has kindled a small fire under the Capesize market. At a paltry $3369 from the ...
Saturday, 06 June 20
KOREA SOUTH-EAST POWER CO INVITED COAL BIDS FOR MIN 5600 NCV COAL
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 270,000 Tons (MT) min. 5600 NCV co ...
Friday, 05 June 20
COAL INDIA ESTIMATES PRODUCTION GROWTH BY OVERBURDEN REMOVAL - FINANCIAL EXPRESS
PSU miner Coal India (CIL) has now limited mining only to Overburden Removal (OBR) with falling demand of coal. The mining behemoth is now keeping ...
Friday, 05 June 20
U.S. SANCTIONS COMPLIANCE GUIDANCE RELEASED FOR THE GLOBAL MARITIME, ENERGY AND METALS SECTORS - AKIN GUMP
Key Points
On May 14, 2020, OFAC, the Department of State and the U.S. Coast Guard jointly released guidance for persons involved in the ma ...
Friday, 05 June 20
IN THE FIRST 5 MONTHS OF 2020 AUSTRALIA SHIPPED 6.8 MLN TONNES TO VIETNAM - BANCHERO COSTA
In the first 5 months of 2020, global seaborne coal trade declined by as much as -8% year-on-year, according to vessel tracking data from Ref ...
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- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Bhatia International Limited - India
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- PTC India Limited - India
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Romanian Commodities Exchange
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
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