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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, 12 December 19
KOWEPO INVITING BIDS FOR 2.28 MILLION TONS OF MIN.4,400 NCV COAL
COALspot.com: South Korea’s Korea Western Power Co., Ltd. (KOWEPO) has issued an international tender for total 2,280,000 tons of (Sub) Bitum ...
Wednesday, 11 December 19
PANAMAX: THE MARKET REMAINED FIRM IN THE PACIFIC, WITH INCREASED ACTIVITY NOTED IN KEY AREAS, SUCH AS INDONESIA - ALLIED
Capesize – Positive momentum was resumed this past week, with earnings mak-ing some gains once again. This rising pattern was reflected in th ...
Tuesday, 10 December 19
PREPARATIONS INTENSIFY AS IMO 2020 GLOBAL SULPHUR CAP LOOMS - STANDARD CLUB
With less than a month to go for the impending IMO 2020 global sulphur cap, the club has started witnessing dispute cases relating to the measureme ...
Monday, 09 December 19
KOREA SOUTHERN POWER CO LTD IS INVITING OFFERS FOR MIN 3700 NCV COAL
COALspot.com: South Korea’s Korea East-West Power Co. Ltd has issued an international tender for 160,000 Tons steam coal.
Acco ...
Saturday, 07 December 19
CHINA'S BENCHMARK POWER COAL PRICE DROPS SLIGHTLY - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
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- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- White Energy Company Limited
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Bhatia International Limited - India
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
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