We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Wednesday, 06 January 16
NEW COAL PRICE PASS-THROUGH REGULATION BENEFITS CHINA IPPS - FITCH RATINGS
Fitch Ratings says the new Coal Price Pass-through Mechanism announced by the National Development and Reform Commission (NDRC) on 31 December 2015 will bring highervisibility and stability to China's independent power producers' (IPPs) earnings.
This new mechanism gives a much clearer guidance on the benchmark coal price for reference and when the tariff adjustments will occur, unlike the previous mechanism which did not provide clear details on these items.
The NDRC announced a cut in the on-grid power tariff for thermal power of CNY0.03 per kilo-watt hour (kwh) effective from 1 January 2016 - which the agency considers to be modest compared to the drop in Qinghuangdao coal prices of around 17% since the last tariff revision in April 2015. The tariff reduction is also moderate compared to the end-2015 dark spread for China coal fired plants of around CNY0.25/kwh as estimated by the agency. Nonetheless, we believe the tariff cut may negatively impact thermal power producers whose utilisation hours are under pressure.
The NDRC launched new China Thermal Coal Price Indices by province in September 2015, which will serve as a reference for future tariff adjustments. The new tariff framework will result in annual tariff adjustments by referring to thermal coal prices in 2014 as the benchmark coal price. The review will take place at the end of every year, and adjustments will be effective from 1 January in the following year.
The new mechanism also sets different pass-through factors of between 0.8x to 1.0x for coal price changes of between CNY 30 to 150/ton from 2014 levels; any changes beyond this range will not be passed through. The effective pass-through of cost changes will vary from 0 to 71% within this band of coal price variations. This is lower than the 90% under previous regulations. However, we do not see a high risk of spreads materially contracting for power producers in the foreseeable future as the benchmark coal price (of 2014) is more than 20% higher than current coal price levels, and given our expectation of subdued coal prices in the medium-term.
The new mechanism also introduced an automatic pass-through of a coal-fired power on-grid tariff to commercial and industrial (C&I) retail power tariff, subject to a K-factor adjustment to account for cross-subsidies and various surcharges. Fitch believes that the Chinese government took advantage of current low coal prices to rationalize the relationship between coal prices, the coal-fired power on-grid tariff and the C&I retail power tariff.
However, this new mechanism only regulates the benchmark on-grid tariff, while power tariffs for "market power" through direct purchases by large customers or the power market exchange programme are not covered. While the new tariff regulations provide more clarity and certainty to thermal power producers, Fitch believes that coal-fired power IPPs will continue to face challenges with weakened utilization hours due to low power consumption growth and the addition of large amounts of thermal and renewable power capacity in the medium-term. Although current power sold through the power market or direct purchase is relatively small (less than 10%), more and more power is likely to be sold under the "market power" scheme as an increasing number of provinces will introduce such programs. IPPs also have a strong incentive to participate in "market power" programmes to gain higher utilization, albeit at discounted tariffs.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Wednesday, 28 October 15
Q2'16 FOB RICHARDS BAY COAL SWAP SEES FURTHER DECLINES
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q4' 2015 gained week over week and declined month over month.
The Q4 swap was d ...
Wednesday, 28 October 15
BDI INCREASE TOOK PLACE SOLELY ON THE BACK OF CAPESIZE PERFORMANCE, BUT........ - INTERMODAL
COALspot.com: The Dry Bulk market closed off the week noting a small improvement which nonetheless failed to lift sentiment, not only because ...
Tuesday, 27 October 15
Q1'16 API 5 FOB NEWCASTLE COAL SWAP DECLINE 6 PER CENT M-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2015 delivery decreased $2 per ton (4.66%) month over month to US$ 40.93 per ton. The swa ...
Monday, 26 October 15
PORT OF NEWCASTLE SHIPPED 10.5 PER CENT LESS COAL IN SEPTEMBER, COMPARED TO AUGUST LOADING
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.161 billi ...
Monday, 26 October 15
CFR SOUTH CHINA COAL SWAPS CLOSE DOWN 4.3% AS DEMAND CONCERNS WEIGH
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery down just US$ 1.48 (3.02 %) per ton month over month.
A commodity sw ...
|
|
|
Showing 2746 to 2750 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- VISA Power Limited - India
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Posco Energy - South Korea
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
|
| |
| |
|
