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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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Thursday, 07 May 20
CRUDE OIL TANKER EARNINGS DROP 68% IN NINE DAYS - BIMCO
Crude oil tanker earnings have come down sharply in recent weeks with Very Large Crude Carrier (VLCC) earnings from the Middle East Gulf to China d ...
Thursday, 07 May 20
UKRAINE PRODUCES 2.5 MLN TONNES OF COAL IN APRIL - UKRINFORM
Ukraine produced 2.5 million tonnes of coal in April 2020, which is 39% less than planned, according to the Coal Miners Union of Ukraine.
...
Thursday, 07 May 20
INDIA: GOVT TO DO AWAY WITH MANDATORY WASHING OF COAL FOR THERMAL POWER UNITS - BUSINESS STANDARD
The Centre is planning to do away with the mandatory requirement of washing of coal before it is transported to thermal power stations. The Ministr ...
Thursday, 07 May 20
CIL'S SUPPLY TO POWER SECTOR FALLS IN MARCH AMID SLUMP IN COAL DEMAND - PTI
The supply of coal to the power sector by state-owned CIL registered a decline of eight per cent to 42.30 million tonne in March in the wake of slu ...
Thursday, 07 May 20
COAL PRICE REFERENCE FALL SHARPLY IN MAY 2020 DUE TO CORONAVIRUS OUTBREAK
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
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- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Planning Commission, India
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- The University of Queensland
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- PTC India Limited - India
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
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