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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, 20 February 20
CHINA RESUMES OVER 70 PCT COAL PRODUCTION CAPACITY AMID EPIDEMIC - XINHUA
China has resumed 70.2 percent of its coal production capacity with output recovering steadily amid the fight against the novel coronavirus epidemi ...
Thursday, 20 February 20
CHINA THERMAL COAL MARKET FACES 2-3 MONTH CORONAVIRUS SHORT SQUEEZE: NOBLE - REUTERS
China’s domestic thermal coal market faces a 2-3 month short squeeze as a rapidly spreading coronavirus outbreak curtails production more tha ...
Wednesday, 19 February 20
KOREA MIDLAND POWER INVITED BIDS FOR 1 MILLION TONS OF HCV AND LCV COAL FOR Q2- Q4 LOADING
COALspot.com: Korea Midland Power Co. Ltd, (KOMIPO). has issued an international tender for total 1 million MT of coal for April to December 2020 l ...
Wednesday, 19 February 20
GLENCORE WRITES OFF ALMOST $1 BILLION AT COLOMBIAN COAL MINES DUE TO FALLING EUROPEAN IMPORTS: BLOOMBERG
The economic case against European coal is proving too much for even Glencore Plc.
The world’s biggest coal shipper cut the va ...
Wednesday, 19 February 20
MINERS WELCOME INDONESIA'S NEW JOBS BILL THAT COULD SPUR COAL GROWTH - REUTERS
Miners have welcomed proposed changes to Indonesian mining rules under a new law aimed at boosting investment, though critics are concerned that th ...
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- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
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