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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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Wednesday, 19 November 14
SHIPPING MARKET INSIGHT - BY KATERINA RESTIS
The current Ebola outbreak in West Africa has been declared as a worldwide health emergency by the World Health Organization and has had a great im ...
Tuesday, 18 November 14
VALEMAX DEAL TO DETERMINE DRY BULK MARKET'S FATE - DREWRY MARITIME RESEARCH
Vale’s accord to sell and lease four Valemax vessels to COSCO might have negative repercussions on dry bulk freight rates. Vale has committed ...
Tuesday, 18 November 14
SUB-BIT FOB INDONESIA COAL SWAP DELIVERY Q2' 2015 CLOSED AT $ 49.55; DOWN 4.10% M-O-M
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month, gained week on week and day on day.
The Q1 swap has lost US ...
Tuesday, 18 November 14
FOB RICHARDS BAY COAL SWAP FOR Q1' 2015 DELIVERY CLOSED AT $ 66.31; UP 1.33% W-O-W
COALspot.com: API 4 FOB Richards Bay Coal swap for Q1’ 2015 delivery has gained US$ 0.27 (+0.41%) month over month and US$ 0.87 (+1.33%) week ...
Tuesday, 18 November 14
CHEAP OIL PRICES COULD RESHAPE GLOBAL OIL EXPORTING MAP - HELLENIC SHIPPING
Tanker owners have enjoyed a rather healthy 2014, but as the year draws to a close, the fall of oil prices is bound to reshape traditional, as well ...
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- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- White Energy Company Limited
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- PTC India Limited - India
- Planning Commission, India
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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