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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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Monday, 10 November 14
Q4' 15 FOB INDONESIA COAL SWAP CLOSED LOWER THAN Q1' 15 CLOSING PRICE OF US$ 49.58 ON LAST FRIDAY
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month, week on week and day on day.
The Q1 swap has lost just US$ ...
Monday, 10 November 14
SGX'S API 4 FOB RICHARDS BAY COAL SWAP FOR Q1' 2015 DELIVERY CLOSED AT US$ 65.44 ON 7 NOV, LOST 4.08% M-O-M
COALspot.com: API 4 FOB Richards Bay Coal swap for Q1’ 2015 delivery has decreased US$ 2.78 (-4.08%) month over month and US$ 1.41 (-2.11%) w ...
Monday, 10 November 14
MOZAMBIQUE SIGNED CONTRACT WITH ETA STAR OF UAE FOR OPEN CAST COAL MINE IN TETE - AIM
- ETA Star to build slurry pipeline over the 600 kilometers to Beira in Mozambique to transport coal.
- The viability studies show the presence o ...
Monday, 10 November 14
YEAR 2015 CFR SOUTH CHINA COAL SWAP SHOWS A WEAK TREND THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased US$ 3.74 (-5.63%) month over month and US$ 2.19 (+3.37%) we ...
Sunday, 09 November 14
CAPE INDEX UP 3.06%; PANAMAX INDEX FELL 4.05%
COALspot.com: The BDI was almost at same levels compared to last week closing or just increased 0.77 pct from last week. The BDI was closed at 1437 ...
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- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- PTC India Limited - India
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
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