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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, 27 May 16
PET-COKE IMPORTS TO FACE PRESSURE IN INDIA
COALspot.com: An Indian environmental activist moved the National Green Tribunal seeking ban on the use of all forms of petroleum coke, also called ...
Friday, 27 May 16
US COAL PRODUCTION ROSE 2.9% WOW, ACCORDING TO EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.7 million short tons (mm ...
Thursday, 26 May 16
GIANT ORE CARRIERS SET TO PLAY A BIGGER ROLE IN THE GLOBAL SHIPPING FLEET: CHINA EMBRACES VALEMAXES - RICHARD SCOTT
Another phase of the giant ships era is approaching. Chinese shipowners placed orders recently for 30 huge ‘valemax’ ore carriers. Thes ...
Wednesday, 25 May 16
MEDIATION AS A WAY TO RESOLVE DISPUTES IN THE SHIPPING INDUSTRY - LANA JACOBS
KNOWLEDGE TO ELEVATE
The shipping market is currently experiencing a serious recession with the Baltic Dry Index and Baltic Capesize Index bot ...
Wednesday, 25 May 16
DRY BULK SNP MARKET DISPLAYS SIGNS OF STRENGTH - GEORGE ILIOPOULOS
Only a couple of weeks away from the world’s most prominent maritime event, the market for tankers displays an evident lack of confidence in ...
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Showing 2416 to 2420 news of total 6871 |
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- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- The University of Queensland
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Australian Coal Association
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
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