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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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Saturday, 11 January 20
SUPRAMAX: INDONESIA COAL RUNS, A 58,000DWT SHIP WAS RUMOURED FIXED DELIVERY KALIMANTAN, REDELIVERY WEST COAST INDIA, IN THE $4,000S - BALTIC BRIEFING
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Friday, 10 January 20
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remains flat
China’s benchmark power coal price remained flat during the past week.
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Thursday, 09 January 20
NEW IMO LIFEBOAT REQUIREMENTS ENTER INTO FORCE - STANDARD CLUB
KNOWLEDGE TO ELEVATE
Three new compulsory IMO resolutions entered into force on 1 January 2020. These resolutions deal with the maintenance, t ...
Thursday, 09 January 20
INDIA'S NEW EASED MINING RULES TO ENHANCE FOREIGN PARTICIPATION IN COAL SECTOR: MINISTER
India’s cabinet has eased mining laws in a bid to attract foreign players to the domestic coal sector and reduce imports of the fuel, coal mi ...
Thursday, 09 January 20
SUPRAMAX: A NUMBER OF INDONESIAN ROUND TRIPS WERE REPORTED AT BELLOW USD 5,000 PD LEVELS - FEARNLEYS
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The Capesize market has hit new low's in the first week of the new year, with the West Australia route being fixed at USD 6.6 being ...
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- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- The University of Queensland
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Planning Commission, India
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
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