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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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Friday, 07 June 19
KOEN INVITED BIDS FOR 1.87 MILLION TONS OF COAL FOR JULY - OCTOBER 2019 DELIVERY
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 1,700,000 to 1,870,000 Metric Tons ...
Wednesday, 05 June 19
SHIPPING MARKET INSIGHT - INTERMODAL
The first semester of 2019 started as a fairly positive semester for the offshore sector whilst there was a recovery on crude prices, as well as a ...
Tuesday, 04 June 19
MARPOL ANNEX VI - SULPHUR CAP 2020 - DEMYSTIFYING THE FONAR - SKULD
KNOWLEDGE TO ELEVATE
Fuel Oil Non-Availability Report (FONAR) is primarily a discretionary tool for a Member State to lessen the breach of MAR ...
Monday, 03 June 19
SUPRAMAX: A 61,000 TONNER OPEN NORTH CHINA, FIXING A TRIP VIA INDONESIA, REDELIVERY SOUTHEAST ASIA AT $7,500 - BALTIC BRIEFING
Capesize
The market continued its steady ascent over the past week to improved levels. The TC average opened the previous week at $12,243 and c ...
Wednesday, 29 May 19
SHIPPING MARKET INSIGHT - INTERMODAL
Reflecting on the first quarter of 2019, the product tanker market was healthy, with average earnings significantly up compared to the first quarte ...
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- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Central Electricity Authority - India
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
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