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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, 02 June 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.86 PCT - XINHUA
China Taiyuan coal transaction price index stood at 123.95 points Monday, down 0.86 percent week on week.
The index, released by Chi ...
Tuesday, 02 June 20
THE HISTORIC DECLINE OF US COAL - WOOD MACKENZIE
The first commercial power plant in the US was Thomas Edison’s coal-fired Pearl Street station in lower Manhattan, which started operating in ...
Tuesday, 02 June 20
COAL INDIA'S MAY SALES DRIVEN SHARPLY LOWER BY SLUMP IN POWER DEMAND - REUTER
Coal India’s sales fell 23.3% in May as utilities refrained from purchases amid record stockpiles and tepid demand because of a nationwide lo ...
Tuesday, 02 June 20
TUAH TURANGGA AGUNG RECORDED 4.54 MILLION TONS OF COAL SALES IN THE FIRST FOUR MONTHS OF 2020
PT United Tractors Tbk through its subsidiary, PT Tuah Turangga Agung recorded 4.54 million tons of coal sales in the first four months of 2020, up ...
Tuesday, 02 June 20
SOURING SINO-AUSTRALIA TRADE RELATIONS - BALTIC EXCHANGE
Cooling relations between the commodity powerhouses of China and Australia may point to trade troubles ahead when the world emerges from the Covid- ...
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- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- The University of Queensland
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- Australian Coal Association
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- SMC Global Power, Philippines
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- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
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- Ministry of Mines - Canada
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- New Zealand Coal & Carbon
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- OPG Power Generation Pvt Ltd - India
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- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
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- Parliament of New Zealand
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- London Commodity Brokers - England
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- Indonesian Coal Mining Association
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- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
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- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- PTC India Limited - India
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
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- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
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- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
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- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
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- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
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- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
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- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
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- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
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- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
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