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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, 12 November 14
PANAMAX: WITNESSED A FAIRLY STABLE MARKET IN THE ATLANTIC
COALspot.com: Despite the fact that the Dry Bulk market noted another weekly increase, clouds of uncertainty returned mid-week onwards, as the mini ...
Wednesday, 12 November 14
SHIPPING MARKET INSIGHT - CHRISTOPHER T. WHITTY
COALspot.com: The fight continues between the low-cost iron ore producers and the big three: Vale, Rio Tinto and BHP Billiton. We are moving into a ...
Tuesday, 11 November 14
FACING CHALLENGES AND MEETING OPPORTUNITIES - INTERNATIONAL EPC CONFERENCE & EXHIBITION
Press Release: SKYCONNECTION and TRANSEVENT, which is fully supported by the Institution of Engineers Indonesia and Ministry of Industry of the Rep ...
Tuesday, 11 November 14
NEWCASTLE COAL SWAP CLOSED AT $ 52.65 FOR Q1' 15 DELIVERY
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery decreased US$ 2.83 (-5.10%) month over month and US$ 1.35 (-2.50%) week ove ...
Tuesday, 11 November 14
PORT OF NEWCASTLE'S OCTOBER COAL SHIPMENTS SLIPPED 7.40% M-O-M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1,115.7 mil ...
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- Semirara Mining and Power Corporation, Philippines
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- White Energy Company Limited
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- PTC India Limited - India
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
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