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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, 13 March 20
TOP 4 ACCOUNTING CONSIDERATIONS AFTER THE IMPLEMENTATION OF IMO 2020 - PWC
To install or not to install?
Following the IMO 2020 global low sulphur cap for marine fuel effective since 1 January 2020, many shi ...
Friday, 13 March 20
CHINA'S BENCHMARK POWER COAL PRICE DROPS SLIGHTLY - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
Friday, 13 March 20
KOREA SOUTH-EAST POWER INVITED BIDS FOR 390,000 MT OF THERMAL COAL FOR MAY-JUNE 2020 LOADING
COALspot.com: Korea South-East Power Co., Ltd. (KOEN), has issued an international tender for total 390,000 Metric Tons of coal for May & June ...
Thursday, 12 March 20
INDIA 2019 THERMAL COAL IMPORTS RISE 12.6% TO NEARLY 200 MILLION TONNES - REUTERS
India’s thermal coal imports rose 12.6% to nearly 200 million tonnes in 2019, government data reviewed by Reuters showed, reflecting the seco ...
Wednesday, 11 March 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.07 PCT - XINHUA
China Taiyuan coal transaction price index stood at 133.16 points Monday, up 0.07 percent week on week.
The index, released by China ...
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- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- VISA Power Limited - India
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
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