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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, 01 June 16
ZERO SUPPLY TO FUEL GROWTH IN THE DRY BULK MARKET SAYS BIMCO PRESIDENT
The dry bulk market could become profitable again in 2019 – but only if a series of extremely tough and sustained measures are taken by shipo ...
Wednesday, 01 June 16
MARKET INSIGHT - LINOS KOGEVINAS
In another page from this year’s oil drama, oil has, after a series of gains, rebounded to ~$50 / barrel and immediately stopped climbing. &n ...
Tuesday, 31 May 16
CS50 INDONESIA COAL INDEX UP 0.28% COMPARED WITH A WEEK AGO
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up 0.28 percent week over week to averaging $39.01 per ton this past week, shows ...
Monday, 30 May 16
BORYEONG POWER PLANT TO IMPORT HALF A MILLION TONS OF BITUMINOUS COAL
COALspot.com: South Korea’s state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 500,000 Metric Tons of Bituminous Coal T ...
Monday, 30 May 16
BCI ENDING AT 830 POINTS, DOWN 4.6 PER CENT W/W
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline this week. The freight market was weak this past ...
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Showing 2411 to 2415 news of total 6871 |
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- Indian Energy Exchange, India
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Planning Commission, India
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- MS Steel International - UAE
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
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