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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, 12 June 24
CHINA ACCOUNTS FOR 16.3% OF AUSTRALIA'S COAL EXPORTS, FOLLOWED BY INDIA 14.4% - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels says Banchero Costa in its latest report.
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Wednesday, 12 June 24
LNG NEWBUILDING VALUES AT RECORD HIGH: 78 NEWBUILD ORDERS PLACED IN 2024, DOUBLING 2023 - VESON NAUTICAL
The number of LNG newbuilding orders have more than doubled from the same period last year where 34 orders were placed, compared to 78 in the first ...
Monday, 10 June 24
CHINA'S MAY COAL IMPORTS RISE 11% ON LOWER DOMESTIC OUTPUT - REUTERS
China’s imports of coal rose 11% in May from a year earlier, customs data and Reuters records showed on Friday, as lower domestic output this ...
Tuesday, 04 June 24
HOW DO WESTERN SANCTIONS ON RUSSIA IMPACT THE GLOBAL METALS, MINING AND COAL MARKETS - WOOD MACKENZIE
The geopolitical landscape for Russia, as a major supplier of various commodities, has undergone a dramatic transformation since the invasion of Uk ...
Friday, 22 March 24
CASE STUDY: DANGERS OF COAL CARGO - SKULD
Recently, a bulk cargo vessel carrying coal from South Africa to Singapore suffered a fatal accident, resulting in the deaths of three crew members ...
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Showing 21 to 25 news of total 6871 |
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- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Australian Coal Association
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Parliament of New Zealand
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Minerals Council of Australia
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
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