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Friday, 14 November 14
MORE NATURAL GAS FROM RUSSIA TO HELP STABILISE CHINA PRICES - FITCH RATINGS
 COALspot.com: Fitch Ratings has said possible additional natural gas supplies from Russia's OAO Gazprom to China via the Altai pipeline would help China to materially close its demand-supply gap, which would provide greater stability to gas prices in the country.
According to Fitch, on 9 November 2014, Gazprom and China National Petroleum Corporation signed an additional framework agreement to supply 30 billion cubic metres (bcm) of natural gas a year to China via the Altai pipeline, known as the "western route". This follows an agreement signed in May 2014 to supply 38bcm of natural gas to China via the Power of Siberia trunkline, known as the "eastern route".
While no pricing details for the latest agreement are available, Fitch considers it unlikely that the price will be much higher than the "eastern route" agreement, at or above USD350 per thousand cubic metre (around CNY2.2 per cubic metre).This is materially lower than the cost of imported liquefied natural gas (LNG) in Asia; in 2013, LNG accounted for around 15% total gas consumed in China. The two gas supply contracts would make Russia China's single largest gas supplier, overtaking Turkmenistan's 65bcm per year.
China's National Development and Reform Commission (NDRC) have an ambitious natural gas usage target of 360bcm by 2020; in 2013, the demand in China was 168bcm. Progress in securing piped gas from both Russia and central Asia is critical to achieving that target as domestic production growth has been slow.
Aside from ensuring sufficient supply, the contracts with Russia also ensure supply at prices cheaper than LNG, which will stabilise natural gas prices in China over the medium term. We estimate that a higher proportion of gas being procured through pipelines would keep China gas prices at around CNY3 per cubic metre.
Currently, domestic conventional gas is priced at around CNY1.2 per cubic metre. The NDRC has been raising the city-gate level prices to increase the economic incentives for domestic gas production as well as to compensate for the higher share of LNG in the supply. Assuming domestic conventional gas and synthetic natural gas (SNG) prices converge with the current pipeline gas price at around CNY2.2 per cubic metre, a CNY3 per cubic metre price will allow approximately CNY1 per cubic metre on average as gas transmission costs in China. On this basis, the potential gas price increase between now and 2020 will be around CNY0.5 per cubic metre, which translates to a manageable price increase of around 3% a year through 2020.
Fitch views the latest pipeline gas deal as positive for domestic city gas operators such as China Resources Gas Group Limited and ENN Energy Holdings Limited in the long run. Securing a stable supply ensures their growth potential will be fully met as China's natural gas sector has historically been constrained by insufficient domestic supply. Stabilisation of gas price, on the other hand, reduces the risk of margin compression caused by increasing gas purchasing cost and delays in pass-through to end users. China substantially closing the demand-supply gap with pipeline supplies will also mean downward pressure on Asian LNG prices, which is positive for importers. We also believe this is beneficial for the profitability of CNPC's mid-stream gas supply operations.
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Sunday, 23 November 14
ITALY'S STEAM COAL IMPORTS TO DROP BY 11% IN 2014 - ASSOCARBONI
COALspot.com: Italy’s steam coal imports expected to drop to 16 million tons in 2014 (-11% compared to 2013); coking coal imports to plunge t ...
Saturday, 22 November 14
THE FALL IN BUNKER PRICES REDUCE FUEL COSTS SIGNIFICANTLY - BIMCO, PETER SAND
For a ship that burns 24 tonnes of fuel per day while steaming, fuel costs are reduced by as much as USD 1 million a year if current price level st ...
Saturday, 22 November 14
DRY BULKERS NEWBUILDING DELIVERIES REACHED 11.8 MILLION DWT DURING THIRD QUARTER, NET FLEET GROWTH FOR 2014 TO REACH 5% - HELLENIC SHIPPING NEWS
The dry bulk market has rebounded since its less than impressive performance since the start of the year, but overall, third quarter figures could ...
Friday, 21 November 14
BUMI ENTERS INTO CONDITIONAL SALE & PURCHASE AGREEMENT TO SELL FBS STAKE
COALspot.com: PT Bumi Resources Tbk, one of the Indonesia's largest coal producers confirms that it has executed a Conditional Sale and Purchas ...
Friday, 21 November 14
U.S LAST WEEK'S COAL PRODUCTION STAYS FLAT W-O-W
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.9 million short tons (mmst) of coal ...
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- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
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