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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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Tuesday, 07 June 16
CS COAL INDEX ROSE FOR SECOND STRAIGHT WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up 0.38 percent week over week to averaging $39.16 per ton this past week, shows ...
Monday, 06 June 16
BDI GAINED ON A STRONGER DEMAND FOR CAPESIZE SHIPS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week on a stronger demand for Capesize ves ...
Friday, 03 June 16
DRY BULK VESSEL DELIVERIES COULD BE LESS THAN 50 MILLION DWT IN 2016, AS OWNERS DELAY OR CANCEL NEWBUILDING ORDERS
The dry bulk market has been caught between a rock and a hard place over the course of the past couple of years, as on one hand demand has plunged, ...
Friday, 03 June 16
U.S WEEKLY COAL PRODUCTION SLIDES 1.3% - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.5 million short tons (mm ...
Wednesday, 01 June 16
INDIA'S COAL IMPORTS IN APRIL 2016 DECLINED 15% Y/Y; COAL INDIA INCREASED COAL PRICES BY 6.2%
Coal India has approved raising weighted average coal prices by 6.2 per cent over the current price for both regulated and non-regulated sectors.
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- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Indian Energy Exchange, India
- Planning Commission, India
- The University of Queensland
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
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