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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, 05 July 17
TROUBLE SEEMS TO BE LOOMING ONCE MORE IN THE STEEL INDUSTRY - GEORGE LAZARIDIS
Trouble seems to be looming once more in the steel industry as US President Trump puts forth his plans for specialist protectionist measures for th ...
Friday, 30 June 17
U.S. WEEKLY COAL OUTPUT SLIGHTLY DOWN
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.6 million short tonn ...
Wednesday, 28 June 17
SHIPPING MARKET INSIGHT - TIMOS PAPADIMITRIOU
From the beginning of the year until now SnP activity has changed significantly. To put things into perspective, after a fast and furious q1 on the ...
Monday, 26 June 17
PANAMAX/KAMARMAXES HAD A STRONG WEEK WITH RATES RISING IN MOST AREAS OF THE MARKET - BALTICEXCHANGE
Capesize
A dark cloud appeared to have descended over the market for the big ships with rates continuing to slide in all areas. There was a repor ...
Friday, 23 June 17
U.S. WEEKLY COAL PRODUCTION TOTALED APPROXIMATELY 15.8 MMST; UP 1.8% W/W
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.8 million short tonn ...
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Showing 2016 to 2020 news of total 6871 |
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- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Planning Commission, India
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- The University of Queensland
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Australian Coal Association
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- Bhatia International Limited - India
- Thai Mozambique Logistica
- CNBM International Corporation - China
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