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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, 29 July 22
GLENCORE TO SUPPLY COAL TO NIPPON STEEL AT $375 PER TON - BLOOMBERG
Glencore Plc, agreed to supply coal to Nippon Steel at one of the highest prices ever paid by the Japan Bloomberg reported on July 27.
...
Friday, 29 July 22
GLOBAL COAL DEMAND IS SET TO RETURN TO ITS ALL-TIME HIGH IN 2022 - IEA
The world’s consumption of coal is set to rise slightly in 2022, taking it back to the record level it reached nearly a decade ago, according ...
Thursday, 28 July 22
CREW FAMILIARISATION IS CRITICAL WHEN TAKING OVER A VESSEL - WEST P&I CLUB
Knowledge to Elevate
When a vessel changes ownership and/or manager, it can take some considerable time before the new crew and mana ...
Thursday, 28 July 22
RETURN OF COAL A THREAT TO EUROPEAN COMPANIES' ESG RATINGS - REUTERS
European companies turning to coal as an alternative to Russian gas face a hit to their environmental, social and governance ratings, leaving them ...
Wednesday, 27 July 22
MARKET INSIGHT - INTERMODAL
Amid the upcoming ban on Russian coal from the EU, which will be in full effect on August 10th, EU nations have been accelerating their coal import ...
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- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Australian Coal Association
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Deloitte Consulting - India
- The University of Queensland
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
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