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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, 17 October 19
INDIA READIES POLICY TO ATTRACT FOREIGN INVESTMENT IN COAL MINING - REUTERS
India expects to have formulated a policy within the next two weeks to attract foreign investment to its coal mining industry, the country’s ...
Wednesday, 16 October 19
INDIA CALLS FOR A RESET OF CLIMATE DEBATE ON COAL AS A FUEL - LIVEMINT
India on Tuesday called for a reset on climate debate on coal as a fuel, in the backdrop of India becoming one of the top renewable energy producer ...
Wednesday, 16 October 19
LESSONS LEARNT FROM CREW INJURED IN HEAVY WEATHER - UK P&I CLUB COMMENTS
KNOWLEDGE TO ELEVATE
Stuart Edmonston, Loss Prevention at UK P&I Club, discusses an incident in which crew were injured whilst on deck in ...
Wednesday, 16 October 19
SHIPPING MARKET INSIGHT - INTERMODAL
In perhaps the most interesting market conditions of the past years, the tanker and the dry bulk industry have created a positive sentiment with re ...
Tuesday, 15 October 19
INDIA READIES POLICY TO ATTRACT FOREIGN INVESTMENT IN COAL MINING - REUTERS
India expects to have formulated a policy within the next two weeks to attract foreign investment to its coal mining industry, the country's Co ...
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- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Planning Commission, India
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Australian Coal Association
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
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