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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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Friday, 28 April 17
U.S PRODUCED LESS COAL THIS PAST WEEK COMPARED TO THE PREVIOUS WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14 million short tons ( ...
Friday, 28 April 17
DELTA DUNIA RECORDED $24 MILLION NET PROFIT FOR FIRST QUARTER OF 2017; UP 700% Y/Y
COALspot.com: PT Delta Dunia Makmur Tbk. has announced its financial results for the first quarter of 2017 yesterday. According to the ...
Thursday, 27 April 17
PACIFIC IS SOFTENING WITH MORE TONNAGE OPENING AND LESS COAL ORDERS AROUND - FEARNLEYS
Supramax
Relatively slow week, with both basins showing signs of cooling down. Although grain cargoes out ECSA and ECCA on Ultras still delivered ...
Wednesday, 26 April 17
IRON ORE PRICES HAVE BEEN ON A ROLLERCOASTER RIDE OVER THE LAST MONTH - CHRISTOPHER WHITTY
Iron ore prices have been on a rollercoaster ride over the last month. Prices started the year on a very positive note, surging up to their highest ...
Tuesday, 25 April 17
FIONA POUNDS: VALID TENDER OF NOTICE OF READINESS
KNOWLEDGE TO ELEVATE
In the recent English High Court case of MV Arundel Castle1, the Judge ruled that a vessel, that could not immediately pr ...
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- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
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