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