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