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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, 19 July 17
SHIPPING MARKET INSIGHT - NASSOS SOULAKIS
Referring back to a previous Intermodal insight that was written in the first quarter of 2017, the author at the time had claimed that MR tanker ra ...
Tuesday, 18 July 17
CHINA'S ECONOMY HAS BOOSTED OPTIMISM IN THE MARKET - GEORGE LAZARIDIS
COALspot.com: China’s economy has boosted optimism in the market as its recently announced GDP growth for the second quarter of the year exce ...
Friday, 14 July 17
IMPORTED COAL IS STILL A SAFE AND RELIABLE SOURCE OF ENERGY IN GERMANY - VDKI
COALspot.com: Imported coal is still a safe and reliable source of energy in Germany. World coal mining has reached a high plateau, but not yet a t ...
Friday, 14 July 17
U.S. WEEKLY COAL-OUTPUT IN SIGNIFICANT DECLINE, EIA FIGURES SHOW
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 13.4 million short tonn ...
Thursday, 13 July 17
BELT AND ROAD SHIPPING INDICES OFFICIALLY RELEASED - XINHUA
COALspot.com: The Shanghai Shipping Exchange (SSE) Tuesday officially launched the Belt and Road shipping indices to track freight trade data among ...
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Showing 2001 to 2005 news of total 6871 |
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- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- PTC India Limited - India
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
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