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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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- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- Australian Coal Association
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Planning Commission, India
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Marubeni Corporation - India
- White Energy Company Limited
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