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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, 26 January 23
AUSTRALIA'S CORONADO GLOBAL SEES COAL PRICES RISING ON RESUMING CHINA IMPORTS - REUTERS
Australia’s Coronado Global Resources said on Tuesday resuming metallurgical coal imports to China would likely push sea-borne coal prices hi ...
Monday, 23 January 23
CHINA'S MAJOR COAL-PRODUCING PROVINCE ACCELERATES DIGITAL TRANSFORMATION - XINHUA
At Chindata Group’s big-data industrial park in Lingqiu County of Datong City, hundreds of thousands of servers are running round-the-clock t ...
Monday, 23 January 23
CHINA'S COAL-RICH PROVINCE SEES COAL PRODUCTION INCREASE IN 2022 - XINHUA
North China’s coal-rich province of Shanxi saw its coal production hit 1.31 billion tonnes in 2022, up 8.7 percent year on year, local author ...
Wednesday, 18 January 23
MARKET INSIGHT - INTERMODAL
From Feb 5, another price cap will be introduced to Russian fuels and oil products, adding to the one for crude oil, already in place from Dec. 3. ...
Tuesday, 17 January 23
FRAUD IS THE BIGGEST THREAT TO CARGO LOSSES - TT CLUB
The almost exclusive use of online facilities to process business transactions allows a myriad of fraudulent pursuits to find opportunities within ...
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- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- SMC Global Power, Philippines
- Planning Commission, India
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- MS Steel International - UAE
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
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