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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, 10 June 16
INDONESIAN 6322 GAR COAL PRICE REFERENCE RISES TO $51.81 A TON
COALspot.com: The Indonesia Coal Benchmark Price increased in June 2016.
The Director General of Mineral and Coal of Indonesia, the regulator ...
Friday, 10 June 16
WEEKLY U.S. COAL PRODUCTION TOTALED AN ESTIMATED 12 MMST IN THE WEEK ENDED JUNE 4, UP 4% W/W - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 12 million short tons (mmst ...
Wednesday, 08 June 16
BPI ACHIEVES FINANCIAL CLOSE FOR ITS 2000 MW POWER PROJECT IN CENTRAL JAVA
COALspot.com: PT Bhimasena Power Indonesia (BPI) on June 6th, 2016 Achieves financial close for its 2x1,000 MW power project in Batang Regency, Cen ...
Wednesday, 08 June 16
U.S COAL IMPORTS ARE PROJECTED TO BE 12 MMST IN 2016 AND 11 MMST IN 2017 - EIA
Coal Supply
U.S. coal production in May was 50 million short tons (MMst), a 4 MMst (10%) increase from the previous month but 19 MMst (28%) lower ...
Wednesday, 08 June 16
THE DRY BULK MARKET KEPT MOVING SIDEWAYS LAST WEEK; SECOND HAND PURCHASES MOVING NORTH - INTERMODAL
Once again its Posidonia time and the biannual exhibition takes place during a very warm June here in Athens, as if the performance of the dry bulk ...
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- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Australian Coal Association
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Central Electricity Authority - India
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Agrawal Coal Company - India
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
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