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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, 02 February 24
DRY BULK MARKET: THE DOWNWARD REVISION IN THE GROWTH OF CAPESIZE TONNE DAYS IN JANUARY WITH THE BCI DROPPING - MARIA BERTZELETOU
In the last week of January, the dry freight market sustained weakness in the Capesize segment, while the number of ballasters in the Southeast (SE ...
Friday, 02 February 24
COAL INDIA ACHIEVES NEARLY 80% OF ITS FY24 PRODUCTION TARGET IN TEN MONTHS - CNBCTV18
For the month of January, the company’s production grew by 9.1% from the same period last year to 78.4 Million Tonnes (MT), from 71.9 MT last ...
Thursday, 01 February 24
CHINA'S WIND, SOLAR CAPACITY TO OVERTAKE COAL IN 2024 - INDUSTRY BODY, REUTERS REPORTED
China’s installed wind and solar capacity is expected to overtake coal for the first time this year, according to industry forecasts.
&nb ...
Thursday, 01 February 24
ANTI-DEDUCTION CLAUSES: CAN A CHARTERER WITHHOLD HIRE WITHOUT AN OWNER'S CONSENT? - SKULD
KNOWLEDGE TO ELEVATE
Summary
In The Anna Dorothea, the Court found that where a charterparty provides that no deduction from hire may be m ...
Thursday, 01 February 24
INDIA REBUILDS COAL STOCKS TO ENSURE ELECTRIC RELIABILITY - REUTERS
India’s electricity supply is much more comfortable at the start of 2024 than in either 2023 or 2022 as coal production has ramped up and the ...
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- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Australian Coal Association
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
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