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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, 24 May 16
WEEKLY CS COAL INDICES NEGATIVE FOR ALL TYPES OF COAL EXCEPT 3800 GAR COAL
COALspot.com: Average 5000 GAR coal index of Indonesian origin was down 0.10 percent week over week to averaging $38.90 per ton this past week, sho ...
Monday, 23 May 16
A PERFECT STORM FOR INDONESIAN STEAM COAL EXPORTS - CLARKSON RESEARCH
Indonesia is the world’s leading steam coal exporter, accounting for over 40% of global seaborne steam coal exports since 2010. However in 20 ...
Monday, 23 May 16
THE PANAMAX INDEX WAS UP 17 POINTS W/W
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this week.
The freight market was firm and all ...
Friday, 20 May 16
SHIPBUILDING CONTRACTS: CAN I CANCEL? SHOULD I CANCEL? - THE SHIPOWNER CLUB
KNOWLEDGE TO ELEVATE
There are many circumstances in which a buyer of a new-build vessel might want to terminate or cancel their contract with ...
Friday, 20 May 16
U.S COAL PRODUCTION FOR THE WEEK ENDED 14 MAY TOTALED 11.4 MMST; UP 3.8% W/W
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.4 million short tons (mm ...
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- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- PTC India Limited - India
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- White Energy Company Limited
- Australian Coal Association
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- The University of Queensland
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
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