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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, 19 December 19
BANGLADESH'S NBR CUTS VAT ON COAL IMPORT FOR POWER PLANTS - THE DAILY STAR
The National Board of Revenue (NBR) reduced value added tax on the import of coal for power plants to 5 percent from present 15 percent for five ye ...
Wednesday, 18 December 19
AVERAGE PRICES OF COAL IN 2018 WERE MORE THAN 60% HIGHER THAN IN 2016 - IEA
Coal use grew again in 2018.
Global coal demand increased by 1.1%, continuing the rebound that began in 2017 after three years of decline ...
Wednesday, 18 December 19
ASIA IS SET TO SUPPORT GLOBAL COAL DEMAND FOR THE NEXT FIVE YEARS - IEA
Press Release: Global coal demand is expected to decline in 2019 but remain broadly stable over the next five years, supported by robust growth in ...
Wednesday, 18 December 19
SHIPPING MARKET INSIGHT - INTERMODAL
As we all know very well by now, the reduction in the maximum allowable sulphur content of marine fuels in 2020 is likely to have a massive impact ...
Tuesday, 17 December 19
AUSTRALIA ENERGY MARKET OPERATOR TURNS SCROOGE ON COAL LOBBY: RUSSELL
Australia, which vies with Indonesia for the title of the world’s largest coal exporter, is planning for an electricity future where use of t ...
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- Posco Energy - South Korea
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Australian Coal Association
- Economic Council, Georgia
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- The University of Queensland
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
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