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Thursday, 05 January 17
UNCHANGED COAL-FIRED TARIFFS PRESSURE CHINA'S GENERATORS - FITCH
 COALspot.com: China's decision to keep on-grid electricity prices from coal-fired power unchanged amid higher coal prices will further squeeze power producers' margins in 2017, says Fitch Ratings. Margins are also expected to suffer as more electricity is sold under direct power sales (DPS) programmes at a discount to the benchmark on-grid tariff as well as from falling plant utilisation levels.
China's National Development and Reform Commission (NDRC) said on 4 January 2017 that the benchmark on-grid tariff for coal-fired power will remain unchanged in 2017, despite a strong coal price rally starting from 3Q16.
Fitch further noted that, China introduced a coal price pass-through mechanism in early 2016, which specifies that coal-fired power generators' on-grid tariff will be reviewed at the start of each year to reflect coal price changes in the previous year. In this week's announcement, the NDRC further specified that the average NDRC national coal price index from November 2015 to October 2016 was used as reference to decide the tariff pass-through amount. According to the price formula, on-grid tariff should increase by CNY0.18 cents per kilowatt hour (KWh) to reflect the coal price change in that period. However, changes less than CNY0.2 cent/KWh will not be made, but will accumulate into the next review period.
Although the current Qinghuangdao seaborne coal price is already 15% lower than its peak in 2016 due to NDRC measures to increase coal supply and contain coal prices, it remains more than 30% higher than the average 2016 price as coal prices were much lower in 1H16. We expect coal prices to fall further with policy intervention; however, the average 2017 coal price, especially in 1H17, is likely to be higher than for the same period last year. As such, dark spread - the difference between power tariffs and unit coal costs - for coal-fired power generators will be lower than in 2015 and early-2016.
At the same time, Fitch said, power volumes sold under DPS are increasing. The NDRC reports that power sold under DPS increased to 700 billion KWh in 2016, up from 430 billion KWh in the previous year. This represents around 12% of China's total power demand or 17% of power demand from the energy-intensive secondary industry, which accounted for around 71% of the country's total power consumption in 2016. According to NDRC, the average discount on DPS is around CNY6.4 cent/KWh, which is around 18% of China's national average on-grid tariff.
However, Fitch estimates the discount for power sold under DPS is around 20% in regions with higher power demand and less competition, and 30% or higher in regions that suffer more from power overcapacity. Coal-fired power generators' dark spread is likely to be further squeezed as China aims to expand the scale of DPS in 2017.
We also expect coal-fired power utilisation hours to decline with slowing power demand growth and still-high capacity additions. We expect some smaller players are likely to be loss-making and forced out of the market, while large-scale and highly-efficient power generators or power-heat co-generation generators in regions with stable power demand or access to lower-cost coal will be final winners under these changes taking place in China electricity market, Fitch concluded.
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Wednesday, 31 January 24
CHINA'S INNER MONGOLIA COAL OUTPUT HIT 1.21B TONS IN 2023 - XINHUA
North China’s Inner Mongolia autonomous region churned out 1.21 billion tons of coal in 2023 as it strives to guarantee the country’s e ...
Wednesday, 31 January 24
GAS EXPORTS COST U.S. CONSUMERS MORE THAN $100 BILLION OVER 16-MONTH PERIOD - IEEFA
Limited Demand Growth Could Dampen the Dry Bulk Market in the Coming Months BIMCOStarting in late 2021—before its invasion of Ukraine—R ...
Tuesday, 30 January 24
LIMITED DEMAND GROWTH COULD DAMPEN THE DRY BULK MARKET IN THE COMING MONTHS - BIMCO
Demand
In our base scenario, we expect cargo demand to grow by 0-1% in 2024 and 0.5-1.5% in 2025. This is a 0.5 percentage point reduction for ...
Friday, 26 January 24
RED SEA DIVERSIONS ADD NEARLY A MILLION DOLLARS PER VOYAGE TO SHIPPING COSTS WHILE DOUBLING TRANSIT TIME - LSEG
The incremental costs of diverting a tanker from Asia to NW Europe via the Cape of Good Hope is accounting for an extra $932,905 USD per voyage whi ...
Friday, 26 January 24
HARD COAL GUARDIAN ANGEL OF THE ENERGY SUPPLY - GERMANY COAL IMPORTERS ASSOCIATION
- No security of supply without hard coal
- The Substitute Power Plant Provision Act (EKBG) must be extended
- Higher grid fees due to the ...
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- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
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