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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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Thursday, 19 May 16
AUSTRALIAN IRON ORE CARGOES PUSHED UP THE FREIGHT RATES FOR CAPE THIS WEEK - FEARNLEYS
Cape
It has been a big jump in the freight rates for Cape size this week, says Fearnleys in its latest weekly report. All of the Australian iron ...
Thursday, 19 May 16
DISPUTE OVER VAT ON COAL DRAGS ON, CAUSING DOUBLE-BLOW TO MINERS - JP
The dispute over the value-added tax ( VAT ) mechanism between coal miners operating under third-generation contracts and the Finance Ministry&rsqu ...
Wednesday, 18 May 16
DRY BULK OUTLOOK REMAINS GLOOMY SAYS DANISH SHIP FINANCE, AS SHIPPING NEEDS TO RETHINK BUSINESS MODEL - HELLENIC SHIPPING
Our Shipping Market Review – May 2016 is devoted to the fourth industrial revolution. To understand the truly disruptive nature of the fourth ...
Wednesday, 18 May 16
LONG TERM FUNDAMENTALS ARE SLOWLY IMPROVING FOR THE DRY BULK MARKET - INTERMODAL
As we are approaching the end of the first half of the year, there is a number of market participants over at the dry bulk sector that have started ...
Tuesday, 17 May 16
INDONESIAN COAL PRICE REFERENCE DECLINE AGAIN
COALspot.com: The Indonesia Coal Benchmark Price declined in May 2016.
The Director General of Mineral and Coal of Indonesia, the regulator of ...
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Showing 2426 to 2430 news of total 6871 |
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- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Mjunction Services Limited - India
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Australian Coal Association
- Indika Energy - Indonesia
- Economic Council, Georgia
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
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