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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, 05 March 20
INDONESIA'S BUKIT ASAM 2019 OUTPUT RISES 10.2% Y/Y - REUTERS
PT Bukit Asam, Indonesia’s state-owned coal miner, said on Wednesday its output in 2019 rose 10.2% to 29.1 million tonnes.
Coa ...
Thursday, 05 March 20
SEEING REMOTELY - IN SAFETY: BUREAU VERITAS PERFORMS FIRST SURVEY BY DRONE - BUREAU VERITAS
Bureau Veritas Marine & Offshore (BV), a world leader in testing, inspection and certification (TIC) services has completed its first survey by ...
Wednesday, 04 March 20
AN EPIDEMIC OF UNCERTAINTY - THE CORONAVIRUS AND FORCE MAJEURE - WFW
KNOWLEDGE TO ELEVATE
Do the effects of the coronavirus give rise to legitimate force majeure claims in connection with shipbuilding contracts ...
Wednesday, 04 March 20
CHINA IMPORTED 76.8 MLN TONNES OF CRUDE OIL FOR JANUARY & FEBRUARY 2020; UP 3.4% YOY - REFINITIV | BC
The COVID-19 crisis has been gripping China already for almost two months now. It’s having a huge negative impact on the economy, and this is ...
Wednesday, 04 March 20
MARKET INSIGHT - INTERMODAL
As it was expected, the whole world has been focusing on the spread of the Coronavirus, with the fast outbreak being primarily a massive humanitari ...
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- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- White Energy Company Limited
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
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