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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, 29 March 22
MEMR OF INDONESIA HAS FIXED COAL PRICE AT US$ 90 PER TONNE FOR DOMESTIC INDUSTRIES EXCEPT SMELTER INDUSTRIES; FOR PLN USD 70 IS APPLICABLE
Minister of Energy and Mineral Resources (ESDM) Arifin Tasrif has set the selling price of coal for domestic, industrial except metal processing an ...
Monday, 21 March 22
A FORCE MAJEURE TO BE RECKONED WITH - BALTIC EXCHANGE
Sanctions cause payment confusion
This dispute in MUR Shipping BV v. RTI Ltd [2022] EWHC 467 (Comm) related to an owner’s purported exercis ...
Monday, 21 March 22
CHINA'S COAL OUTPUT UP 10.3 PCT IN FIRST TWO MONTHS - XINHUA
China’s raw coal output posted fast growth in the first two months of 2022, while coal imports continued to shrink, official data showed.
...
Tuesday, 15 March 22
INDUSTRY VETERANS & ORGANIZATIONS HONOURED WITH THE PRESTIGIOUS SHIPTEK INTERNATIONAL AWARDS 2022
Press Release: The 15th edition of the prestigious ShipTek International Conference & Awards 2022 concluded successfully from March 7th - 8th 2 ...
Tuesday, 15 March 22
CHINA'S COAL OUTPUT GROWS TO STABILIZE MARKET SUPPLY - XINHUA
China’s coal market has seen growth in output since late February amid the country’s efforts to stabilize production and ensure supply, ...
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- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- White Energy Company Limited
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Planning Commission, India
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- Australian Coal Association
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- The University of Queensland
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
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