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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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Wednesday, 11 November 15
VESSEL VALUES ARE DOWN BY AT LEAST 20% SINCE MID-AUGUST - INTERMODAL
I had promised not to spend another broker’s insight focusing on the dry bulk side. However, the sale of the M/V Churchill Bulker (179,362 dw ...
Tuesday, 10 November 15
SELF-HEATING OF COAL HAS EMPHASISED THE IMPORTANCE OF CHECKING THE ACCURACY OF SHIPPER'S DECLARATIONS - GARD
Recent incidents involving self-heating of coal has emphasised the importance of checking the accuracy of shipper’s declarations for all type ...
Tuesday, 10 November 15
API 5 FOB NEWCASTLE COAL SWAP SLIDES CONTINUE
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery slid $3.55 per ton (8.50%) month over month to US$ 38.20 per ton. The swap ...
Monday, 09 November 15
BUNKER PRICES TO KEEP SLIDING THIS WEEK, EXPERT SAYS - MARINE BUNKER EXCHANGE
The oil price volatility has continued this week. Two dollars up one day and the next day two dollars down. The oil market has been trading on the ...
Monday, 09 November 15
CFR SOUTH CHINA THERMAL COAL SWAP FOR Q3' 16 CONTRACT DECLINED US$ 4 PER TON
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery declined US$ 4.35 (9.03 %) per ton month over month.
A commodity swa ...
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- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Planning Commission, India
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- The University of Queensland
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
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