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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, 14 November 23
CHINA'S BELT AND ROAD INITIATIVE TURNS AWAY FROM COAL - WOOD MACKENZIE
Ambitious, contentious and big spending, China’s Belt and Road Initiative (BRI) is 10 years old. In that time, China has splashed more than U ...
Friday, 10 November 23
THE COMMODITIES FEED: OIL UNDER PRESSURE - ING
Energy – Brent plummets
The oil market came under significant pressure yesterday. ICE Brent settled 4.19% lower on the day and ...
Friday, 10 November 23
COAL USE AT U.S. POWER PLANTS CONTINUES DOWNWARD SPIRAL; FULL IMPACT ON MINES TO BE FELT IN 2024 - IEEFA
This year, the use of coal by the U.S.’s power producers has been so anemic that the fuel has not achieved a 20% market share in any month so ...
Friday, 10 November 23
INDIA: NATIONAL COAL INDEX RISES 3.83 POINTS IN SEPTEMBER AMID HIGHER DEMAND - LIVEMINT
The National Coal Index (NCI) rose 3.83 points to 143.91 in September amid growing demand for coal.
The union coal ministry on Tuesd ...
Thursday, 09 November 23
WE'RE PRODUCING TOO MUCH COAL, OIL AND GAS, REPORT SAYS - WSJ
World leaders pledged in 2015 to reduce emissions in a combined effort to limit climate change.
Now they are stepping up production ...
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- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
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