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Friday, 31 July 15
CHINA'S NEW OIL IMPORT RULES HAVE MINIMAL IMPACT ON STATUS QUO - FITCH
 Fitch Ratings says that China's looser criteria for crude oil import rights are a positive but modest step towards encouraging private-sector participation in the country's refining industry. The rating agency believes the established state-owned players will maintain their dominant market position in the country's oil and gas sector in the near to mediumn term.
China's Ministry of Commerce announced on 23 July that refiners or petrochemicaln companies that have at least one crude distillation unit with minimum yearly processing capacity of 2 million tonnes, oil storage capacity of 300,000 tonnes, and an available credit line of USD1bn from commercial banks, among other criteria, would be eligible to apply for a licence to import crude oil. Previously, the criteria included two years' experience in importing oil, which effectively ruled out many private refiners.
Fitch views this as only an initial step towards increasing private-sector participation in a market that has been dominated by state-owned enterprises (SOEs). Independent refiners' profitability could be enhanced, as those with an import license will be able to source for crude oil from more than just the country's current five designated importers, which include the three biggest oil and gas SOEs.
This latest change and the liberalisation of oil product prices that was effective September 2013 will encourage the upgrading or phasing-out of inefficient, small-scale facilities.
The incentives for private-sector companies to expand in China's refining industry, though, remain limited by regulation of oil product exports, domestic product price controls (albeit loosened), and limited domestic marketing channels. The slower demand growth in the near term and refining overcapacity, especially for diesel, would also reduce the benefits from the new rules.
The Big Three oil and gas SOEs - China National Petroleum Corporation (CNPC,A+/Stable), China Petroleum & Chemical Corporation (Sinopec, A+/Stable) and CNOOC Limited (A+/Stable) - account for over 70% of the country's refining capacity. Fitch does not expect the three companies' strong market positions and strategic importance to the state to be eroded in the foreseeable future, although their oil trading profits may be modestly trimmed. The new rules mark a continuation of the government's push for more private-sector participation in the oil and gas sector, in the same vein as Sinopec's sale of part of its marketing unit in 2014 and CNPC's disposal of some of its pipeline assets in 2013.
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Tuesday, 04 August 15
SHIPPING CYCLES - A CHESS GAME YOU DON'T WANT TO LOSE - CLARKSONS
Ingmar Bergman’s classic movie The Seventh Seal is about a knight who, during the Black Death, challenges Death to a chess match, in the hope ...
Monday, 03 August 15
NEWCASTLE COAL SWAPS DECLINE FURTHER THIS PAST WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for 4Q’ 2015 delivery down $ 1.92 per MT (-4.22%) month over month to US$ 43.58 per mt. The swap ...
Monday, 03 August 15
CFR SOUTH CHINA COAL SWAPS SLIDE THIS WEEK
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined US$ 1.64 (3.14%) per MT month over month.
A commodity swap ...
Sunday, 02 August 15
CAPESIZE RATES PUSH BDI UPWARD
COALspot.com: The freight market was buoyant this week as BDI rose 4.14 pct to 1131 points. The cape index was also increased 16.50 pct 2209 points ...
Saturday, 01 August 15
DRY BULK MARKET KEEPS ITS MOMENTUM, AS OUTLOOK IMPROVES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Although conditions remain more than challenging, especially from an economic point of view (aka China’s stock worries), the dry bulk market ...
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- Singapore Mercantile Exchange
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- London Commodity Brokers - England
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Georgia Ports Authority, United States
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