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Tuesday, 19 March 13
CHINA GAS PRICE REFORMS AND APAC GAS PRICING - FITCH STREET VIEW
 Fitch Ratings says pricing reform in the Chinese gas sector is unlikely to materially impact gas distributors' margins, and low gas prices in the US are unlikely to materially influence the price at which gas is transacted in the Asia-Pacific (APAC) region in the medium-term. These were among the key points of discussion during recent round-table meetings with international investors based in Hong Kong and Singapore.
Investors cited China's gas pricing reforms and their implications for China's city gas distributors as a key uncertainty in the APAC energy and utilities sector. Fitch expects China to gradually implement pricing reform in the energy sector, including how gas is priced domestically. Currently gas prices are controlled by the state which has led China National Petroleum Corporation (CNPC, A+/Stable) to generate losses due to high costs of natural and liquefied natural gas (LNG) imports.
Fitch believes demand for natural gas from industries and households will continue to be strong notwithstanding likely higher costs to consumers following the price reforms. This is because natural gas is substantially more cost-effective than alternative sources. At the same time, Fitch believes that city gas companies should be able to pass on cost increases to consumers leaving the profitability of gas supply operations largely intact, although some compression of margins can be expected initially.
Investors also raised the possibility for APAC gas prices to decouple from global oil prices in the medium term. Fitch believes there is increased pressure from buyers to link APAC gas prices to a broader benchmark that captures significantly lower gas prices currently available in the US - around USD4 per mmbtu (million British Thermal units) versus USD mid-teens in APAC.
Fitch expects APAC gas transactions to gradually track a "basket of global gas prices", but does not expect a material change to APAC gas prices in the medium-term, particularly not before the region starts to see meaningful quantities of shale gas exports from the US. Export of gas from the US is facing a number of headwinds including opposition from environmental groups and slow government approvals to convert unused gas import terminals into gas liquefaction facilities. Higher gas exports from Russia to Asia over the medium-term will also exert some downward pressure on gas prices in APAC.
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Monday, 11 February 13
NEWCASTLE PORT SHIPPED 23.01 PERCENT MORE COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 2,967,761 MT of thermal and coking coal for week ended 0700 hours 11 February 2013, Newc ...
Sunday, 10 February 13
INDONESIA SUB-BIT SWAPS: "UP" - CFR SOUTH CHINA SWAPS: "DOWN"
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has gained 0.72 percent W-O-W and CFR South China coal shipme ...
Sunday, 10 February 13
DRY BULK OVERSUPPLY OF TONNAGE SEEN WANING IN THE COMING MONTHS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
It seems that the tide could be shifting in the dry bulk market, in terms of tonnage oversupply, according to the latest data figures. This could ex ...
Sunday, 10 February 13
HIGHER BUNKER PRICE PUSHES SEA FREIGHTS FIRM - REDDY
COALspot.com - The freight market was soft and all at same levels with Chinese year holidays next week.
The BDI was slightly down by 0.27 pct ad ...
Friday, 08 February 13
NORTH P&I CLUB WARNS OF LIQUEFACTION RISK FOR BAUXITE CARGOES
The ‘A’ rated 170 million GT North P&I club has warned shipowners carrying bauxite aluminium ore cargoes that they have the potentia ...
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- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- The University of Queensland
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Parliament of New Zealand
- Marubeni Corporation - India
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Central Electricity Authority - India
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
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