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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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Thursday, 27 July 17
A VOLATILE WEEK IN THE CAPE MARKET - FEARNLEYS
Supramax
The black sea still performing well although bit fewer fixtures concluded/reported. Rates lie somewhere around 18 -19 on front-haul . Bo ...
Wednesday, 26 July 17
SHIPPIPNG MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
After an admittedly challenging 2016, the Dry Bulk market kicked off this year on a much more positive note, with all indices steadily increasing u ...
Monday, 24 July 17
THE FREIGHT MARKET ROSE THIS PAST WEEK COMPARED TO THE PREVIOUS WEEK
COALspot.com: The Freight market rose this past week compared to the previous week, as BDI and Cape indexes show a positive trend week over week.
...
Friday, 21 July 17
ESTIMATED WEEKLY U.S. COAL PRODUCTION TOTALED APPROXIMATELY 15.3 MMST; UP 13.5% W/W
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.3 million short tonn ...
Thursday, 20 July 17
SUPRAMAX: INDO COAL ROUNDS ARE TRADING AROUND MID/HIGH $11K WITH SINGAPORE DELIVERY - FEARNLEYS
Supramax
A positive week again in the Pacific with rates moving upwards.
According to Fearnleys Weekly Dry bulk report, Nopac rounds are pay ...
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Showing 1996 to 2000 news of total 6871 |
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- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- PTC India Limited - India
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
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