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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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Wednesday, 08 January 20
WHAT IS BIMCO THINKING ABOUT 2020? - BIMCO
Every year, BIMCO considers what is in store for the shipping industry and for BIMCO in the coming years, while also reflecting on the year gone by ...
Wednesday, 08 January 20
VINACOMIN SETS TO SELL 49 MILLION TONNES OF COAL IN 2020 - VIETNAM NET
The Vietnam National Coal-Mineral Industries Holding Corporation Limited (Vinacomin) has set to sell 49 million tonnes of coal in 2020, a year-on-y ...
Wednesday, 08 January 20
CHINA'S COAL-RICH PROVINCE CUTS 18.95 MLN TONNES OF CAPACITY IN 2019 - XINHUA
North China’s Shanxi Province reduced its coal production capacity by 18.95 million tonnes by closing 18 coal mines in 2019.
A ...
Wednesday, 08 January 20
JANUARY INDONESIAN COAL PRICE REFERENCE SLIPS US$ 0.37 MOM
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Tuesday, 07 January 20
CLEANER AIR IN 2020: 0.5% SULPHUR CAP FOR SHIPS ENTERS INTO FORCE WORLDWIDE - EUROPEAN COMMISSION
From 1 January 2020, the maximum sulphur content of marine fuels is reduced to 0.5% (down from 3.5%) globally – reducing air pollution and pr ...
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- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- Australian Coal Association
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
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