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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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Tuesday, 13 December 22
AUSTRALIA TO CAP PRICES OF COAL, GAS TO DRIVE DOWN ENERGY BILLS - REUTERS
Australia will cap coal and gas prices for a year in a bid to shave utility bills for households and businesses hit by soaring costs because of the ...
Tuesday, 13 December 22
YANCOAL AUSTRALIA TO PREPAY $459 MLN DEBT AS RECORD COAL PRICES BOOST CASHFLOWS - REUTERS
Coal miner Yancoal Australia Ltd. said on Friday it intended to prepay $459 million of its debt on or around Dec. 16, as elevated coal prices were ...
Tuesday, 13 December 22
WHY COAL LEADS THE RISE IN COMMODITIES THIS YEAR - MARKETWATCH
This year marked a resurgence for coal, often known — and loathed — by environmentalists as the dirtiest energy source, with prices mor ...
Thursday, 08 December 22
BIMCO TO REVISE WAR RISK CLAUSES
Work to revise the BIMCO War Cancellation Clause 2004, the BIMCO War Risks Clause for Time Chartering 2013 (CONWARTIME 2013) and the BIMCO War Risk ...
Thursday, 08 December 22
COAL ROYALTY PAYMENTS BOOST AUSTRALIAN STATE'S BUDGET FORECAST - REUTERS
Australia’s Queensland state on Wednesday forecast a record surplus for the current financial year, largely driven by higher royalty payments ...
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- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Posco Energy - South Korea
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
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