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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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Monday, 17 July 23
APPROVED AMMONIA-FUELED CONTAINERSHIP - BENEFITS AND RISKS: REED SMITH
Following the news in Offshore Energy that Korea Maritime Consultants has secured approval in principle from the American Bureau of Shipping for it ...
Friday, 14 July 23
CLEAN COAL USE KEY TO DEEP CUTS IN EMISSIONS, STABLE ELECTRICITY SUPPLY - CHINA DAILY
China must push for the clean use of coal and step up integration of the dirty fuel with carbon capture, utilization and storage to achieve sustain ...
Thursday, 13 July 23
VIETNAM'S COAL EMISSIONS PRIMED FOR SURGE AFTER IMPORTS JUMP - REUTERS
Vietnam’s thermal power emissions are primed for a steep climb this summer after the country’s imports of thermal coal soared to their ...
Monday, 26 June 23
COAL PRODUCTION AND CONSUMPTION UP IN 2022 - EUROSTAT
In 2022, EU coal production and consumption continued to increase, reaching 349 million tonnes (+5% compared with the previous year) and 454 millio ...
Wednesday, 21 June 23
QATAR STRIKES SECOND BIG LNG SUPPLY DEAL WITH CHINA - REUTERS
Qatar on Tuesday secured its second large gas supply deal with a Chinese state-controlled company in less than a year, putting Asia clearly ahead i ...
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- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- PTC India Limited - India
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- The University of Queensland
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- MS Steel International - UAE
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
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