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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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Friday, 29 May 20
KOMIPO ON BEHALF FIVE KOREAN GENCOS INVITED COAL BIDS FOR 5,700 & 4999 NCV COAL FOR AUGUST 2020 LOADING
COALspot.com: South Korea’s Korea Midland Power Co.,Ltd (KOMIPO) on behalf five (5) Korean Gencos has Issued an International Tender for tota ...
Friday, 29 May 20
DRY BULK SHIPPING: NO QUICK RECOVERY FOR THE DRY BULK MARKET AS COVID-19 DIGS DEEPER
The outlook is poor for dry bulk, as the negative demand shock and overcapacity come together to send rates to multi-year lows, even a return to wo ...
Thursday, 28 May 20
COVID-19: A FORCE MAJEURE EVENT? - KYPRIANOU
KNOWLEDGE TO ELEVATE
While seeing the unexpected COVID-19 outbreak expanding worldwide and the first cases being identified in Cyprus, the com ...
Thursday, 28 May 20
OIL DEMAND RECOVERED BY 20% IN MAY AGAINST APRIL: RUSSIAN ENERGY MINISTER - TASS
Oil demand remains at a low level but the demand in May increased by 20% against April, Russian Energy Minister Alexander Novak said, cited by the ...
Thursday, 28 May 20
MARKET INSIGHT - INTERMODAL
Earlier in May, China’s top leaders convened for the annual National People's Congress, following over two months of delays due to the co ...
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- Romanian Commodities Exchange
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Planning Commission, India
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Wilmar Investment Holdings
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