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Friday, 13 November 15
WEAK CHINA POWER DEMAND DAMPENS COAL CONSUMPTION - FITCH
 The weak growth in China's electricity consumption in 2015, together with increasing non-thermal power generation capacity are exerting more pressure on the thermal coal market, which is already suffering from over capacity, says Fitch Ratings.
Fitch Ratings further says, overcapacity looms in China's power generation industry, with coal-fired power at most risk. China is experiencing the slowest power consumption growth in three decades - power consumption only increased 0.8% yoy during 9M15, largely due to a 0.9% yoy drop in industrial demand that accounts for 70% of overall power usage. Despite weak electricity demand, generation capacity increased by 9.4% yoy in the same period, of which half came from renewable and nuclear generation sources. Coal-fired power supply contracted 2.2% yoy during 9M15. China's total coal consumption in 9M15 was 2.9bn metric tonnes (MT), down 4.6% from the same period last year.
Consumption of coal-fired power is unlikely to increase significantly in the next 12 to 18 months, given our expectation of weaker economic growth in China, as well as the overall reduction in the energy intensity of the Chinese economy.
Furthermore, "we expect significant addition of renewable-energy generation capacity in the medium term, which is likely to further depress utilisation levels of coal-fired power plants in the absence of a substantial pick up in the energy-intensive industries. Some 177GWs of new generation capacity was under construction as of September 2015, or 13% of 2014 total installed capacity; clean energy sources account for just over 50% of this additional capacity.", says Fitch.
China's key thermal coal reference price, the Qinhuangdao 5,500-kilocalorie power coal price, has fallen 30% to CNY360/MT at end-October 2015, from CNY515/MT at the beginning of 2015. Prices have continued to be under pressure despite imports falling 29.8% yoy to 156m MT in 9M15, and domestic production falling 4.3% yoy to 2.7bn MT in 9M15 following production cuts, including cuts by large operators such as China Shenhua Energy Company Limited (A+/Stable) and China Coal Energy Company
Limited.
"We expect sustained low coal prices and the limited potential for further cost cuts to lead to more mine closures, which will bring some balance to the market over the medium-term. This may also lead to some consolidation in the highly fragmented coal mining industry in China, with large players increasing their market share - this is more likely to happen via stronger players sustaining or increasing their production as the weak leave the market, than by strong players acquiring distressed assets."Fitch Concluded.
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Thursday, 03 December 15
DRY BULK: THERMAL COAL LOWER USAGE UNDER A POTENTIAL NEW CLIMATE DEAL WILL ADVERSELY IMPACT THE MARKET'S RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In direct contrast to the tanker market, the dry bulk one has seen demand for key commodities, such a coal, dwindling down over the course of the p ...
Thursday, 03 December 15
PANAMAX BUSINESS REMAINED UNDER PRESSURE LAST WEEK
COALspot.com: Following the new record lows the Dry Bulk market witnessed the week prior, the BDI took a much needed breath during the past days.
...
Wednesday, 02 December 15
Q3' 16 FOB RICHARDS BAY COAL SWAP SLIGHTLY UP FOR THE THIRD STRAIGHT WEEK
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q1’ 2016 up month over month and fell week over week.
The Q1’ 2016 &nbs ...
Wednesday, 02 December 15
MARKET INSIGHT - VASSILIS LOGOTHETIS
Boom and bust cycles in commodity prices are not something rare, yet they have important implications both for the world economy in general and for ...
Tuesday, 01 December 15
FOB NEWCASTLE COAL SWAP UP THIS PAST WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery slid $3.75 per ton (9.26%) month over month to US$ 36.75 per ton. The swap ...
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- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Minerals Council of Australia
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Australian Coal Association
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- The University of Queensland
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