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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, 13 July 17
SUPRAMAX: NICKEL ORE TRIPS TO CHINA VIA PHILIPPINES WITH DELIVERY S. CHINA IS PAYING AROUND MID $9000 - FEARNLEYS
Supramax
COALspot.com: Another slow start to the week with somewhat softening rates and few fixtures.
Nickel Ore trips to China via the Phil ...
Wednesday, 12 July 17
COAL HAS CONTINUED A STELLAR RUN OVER THE PAST YEAR GAINING ~10% OVER THE PAST QUARTER AND ~41% OVER THE PAST YEAR - LINOS KOGEVINAS
Having just passed the second quarter of 2017, it is interesting to take a look at the performance of the commodity market and how certain commodit ...
Monday, 10 July 17
A ROLLERCOASTER YEAR FOR COAL PRICES; ICPR ROSE 4.62% M/M
COALspot.com: Indonesian coal benchmark price rose 4.62% in July, government data showed.
The benchmark price of Indonesian thermal c ...
Monday, 10 July 17
THE FREIGHT MARKET WAS SHOWS A NEGATIVE TREND WEEK OVER WEEK
COALspot.com: The Freight market decline this past week compared to the previous week, as BDI and Cape indexes show a negative trend week over week ...
Friday, 07 July 17
SHOULD WE BE AVOIDING GENERAL AVERAGE? - ALEX KEMP
KNOWLEDGE TO ELEVATE
Calls for general average to be abolished are nearly as old as the regime itself. A representative of Lloyd’s atten ...
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Showing 2006 to 2010 news of total 6871 |
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- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- PTC India Limited - India
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Planning Commission, India
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
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