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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, 06 October 22
COAL INDIA ASKED TO ENHANCE SUPPLY TO THERMAL POWER PLANTS - IANS
With the festival season round the corner, Coal India Ltd. has been directed by the government to scale up dispatch to thermal power plants.
&n ...
Wednesday, 05 October 22
BUNKER PRICES DOWN AGAIN; IS THERE MORE TO COME? - INTEGR8 FUELS
It’s the economy…..”
VLSFO prices are now back to levels at the start of this year. After all the extremes of thi ...
Wednesday, 05 October 22
MARKET INSIGHT - INTERMODAL
Amid the looming western sanctions on Russia, the country is challenged to pivot its energy markets away from Europe and toward the East. Yet, Russ ...
Tuesday, 04 October 22
A REMARKABLE SHIFT IN FORTUNES HAS BEEN NOTED IN THE CRUDE OIL TANKER MARKETS - ALLIED SHIPPING
A remarkable shift in fortunes has been noted in the crude oil tanker markets over the past month, yet despite these shifts being seemingly in thei ...
Tuesday, 04 October 22
OIL PRICES COULD SOON RETURN TO $100 AS OPEC+ CONSIDERS ‘HISTORIC’ CUT, ANALYSTS SAY - CNBC
An influential alliance of some of the world’s most powerful oil producers is reportedly considering their largest output cut since the start ...
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- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Agrawal Coal Company - India
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
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