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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, 23 August 22
SHIPPING INDUSTRY TO REMOVE THE INDIAN OCEAN HIGH RISK AREA - BIMCO
After more than a decade of effective threat-reducing counter-piracy operations the shipping industry has removed the ‘Indian Ocean High Risk ...
Tuesday, 23 August 22
SHIPPING: GLOBAL TAX REFORM - WATSON FARLEY & WILLIAMS
OECD rules designed to implement a global minimum corporate tax rate for very large multinational groups have now been published and are expected t ...
Tuesday, 23 August 22
PARTIES CONCLUDE JOINT R&D AGREEMENT FOR WORLD’S FIRST AMMONIA FLOATING STORAGE AND REGASIFICATION BARGE CONTRIBUTING TO PROMOTING THE EARLY INTRODUCTION OF AMMONIA FUEL - NYK
NYK Line, Nihon Shipyard Co., Ltd. (NSY), ClassNK, and IHI Corporation (IHI) signed a joint research and development agreement for the commercializ ...
Monday, 22 August 22
INDONESIAN GOVERNMENT IMPOSED ON NEW PROGRESSIVE ROYALTIES FOR COAL
Indonesian President Joko Widodo has signed a Government Regulation (Number 26 of 2022) on 15 August 2022 related to the progressive royalty rates ...
Monday, 22 August 22
CHINA'S JULY RUSSIAN COAL IMPORTS HIT 5-YR HIGH AS WEST SHUNS MOSCOW - REUTERS
China’s coal imports from Russia jumped 14% in July from a year earlier to their highest in at least five years, as China bought discounted c ...
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- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- MS Steel International - UAE
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Planning Commission, India
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
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