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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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Tuesday, 24 November 15
COAL PRICES SET TO REMAIN UNDER PRESSURE UNTIL 2016 DUE TO OVER SUPPLY GLUT; H1 '16 COAL SWAPS DOWN 13% M-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery slid $5 per ton (12.05%) month over month to US$ 36.50 per ton. The s ...
Monday, 23 November 15
NEGATIVE 2016 OUTLOOK FOR WESTERN EUROPEAN STEEL - SAYS FITCH RATINGS
COALspot.com: European steel in 2016 are both negative for the sector and for issuer ratings.
This reflects our expectation that import levels ...
Monday, 23 November 15
DRY BULK MARKET: NET FLEET GROWTH IS SLOWING DOWN, AS SHIP OWNERS ARE LOOKING FOR WAYS TO ALLEVIATING MARKET MELTDOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been in “meltdown” mode for a few weeks now, unable to find support and avoid the fall in historical lows. As s ...
Monday, 23 November 15
CS50 COAL INDEX CLOSED AT $40.27 PER TON; FELL 0.15% FROM LAST WEEK
COALspot.com: The 5700 GAR CS (i) coal index fell by US cents 3 per ton week over week on 20 November 2015. CS 57 (5700 GAR coal) index closed at U ...
Monday, 23 November 15
CFR SOUTH CHINA COAL SWAPS FALL FURTHER ON LOW DEMAND
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery declined US$ 6.75 (13.99%) per ton month over month.
A commodity swa ...
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- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- Georgia Ports Authority, United States
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- PTC India Limited - India
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
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