We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Thursday, 27 May 21
CHINA POWER DEMAND EXCEEDS PRE-COVID-19 LEVELS; THERMAL OUTPUT STRONG - FITCH RATINGS
 Rising Consumption: Total power consumption rose by 21.2% yoy to 1,921.9GWh in 1Q21 due to the fast recovery of China’s economy, after a drop of 6.5% in 1Q20 when market demand was dampened by the Covid-19 outbreak. Demand from the industrial sector, the main driver of power consumption growth, surged by 23.9% yoy in 1Q21.Consumption from the tertiary sector and agricultural users also jumped by 28.2% and 26.4%, respectively, during the quarter, Fitch Ratings says in its latest report.
Demand Exceeds Pre-Covid-19Levels
Power demand gained 14.4% in 1Q21 from 1Q19, driven by the industrial sector’s 15.3% increase and the tertiary sector’s 16.5% gain. Demand from agricultural users, which accounted for only 1.1% of total demand, surged by 31.3%in 1Q21 from 1Q19, led by the upgrade of power grids in rural areas.
Higher Contribution from Tertiary Sector
The contribution of the tertiary sector to consumption rose to 17.3% in 1Q21, from 16.7% in 1Q20. Tertiary demand was marked by the rapid consumption growth of information and technology services, which jumped by 26.5% on average in the past two years due to the fast development of big data, cloud computing and internet of things sector. Demand from the charging and battery swapping industry shot up by 92.2% on average in 2019 and 2020, the result of faster growth in the new-energy vehicle sector.
Thermal Power Underpins Generation Growth
Power generation rose by 19% yoy in 1Q21, primarily driven by thermal power’s output increase of21.1%, accounting for 73% of total power supply, which was 7pp higher than 2020. This was because of the higher output from heating power co-generation thermal units, and lower wind and solar contribution in winter.
Fuel Mix Continues to Improve
The proportion of coal-fired power capacity in China’s fuel mix decreased to 48.8% in 1Q21, after dropping to below 50% for the first time byend-2020. Fitch Ratings expects the share to drop in 2021, as China is promoting renewable energy to achieve net zero emissions by 2060. China added 23.5GW in power capacity in 1Q21, 55% of which were non-fossil fuels, including 5.33GWin solar power capacity, a 56% yoy gain, and 5.26GW in wind power capacity, a 123% jump. China also added 1.15GW in nuclear power capacity and 1.09GW in hydropower capacity in 1Q21.
Improving Coal-Fired Power Plants’ Flexibility
The report further noted that, some provinces, such as Shandong, have extended the service life of some large and efficient coal-fired power units, which also supply heat and have met environmental protection requirements This will ensure a stable power supply as renew able energy is usually affected by the intermittent nature of its source.
Utilisation Hours Improved in1Q21
Utilisation hours (UH) rose by 97 to 915 in 1Q21 from 1Q19 as power demand recovered further. Wind power UH improved by 69 hours to 619 hours, while solar power UH increased to 300 hours, up by 10 hours from1Q19. Yunnan, Sichuan and Jiangsu were the top-three provinces with the highest wind UH, while north-east and north-west China had the highest solar UH.
Thermal and nuclear power UH surged by 165 and 218, respectively, from 1Q20 due to strong consumption growth, higher connection priority for heat-power co-generation in the heating season, and lower output of hydropower, whose UH fell by 21 as a result of lower water flow.
Thermal power capacity installation rose by 10.6GW in 1Q21, including 4.77GW coal-fired power and 2.95GW gas-fired power, some of which were used for peak shaving. We expect renewable energy to continue to drive China’s power capacity installation in the rest of 2021 as the state is pushing for renewable energy to achieve carbon neutrality by 2060.Generation capex in 1Q21amounted to CNY79.5 billion, including 49.4% in wind, solar and biomass, 30.8% in hydro and 9.7% in nuclear. Capex contribution from thermal power fell to 10.1% in 1Q21, from 10.5% in 2020, under the government’s restrictions on thermal power installations given the environmental ramifications.
High Coal Prices to Squeeze Power Generating Companies’ Profit
Coal production rose 16% yoy to 970 million tonnes in 1Q21, slower than the 22% growth of coal-fired power output, resulting in higher coal prices. The Qinhuangdao 5,500 kcal/kg coal price rose 72.6% yoy to CNY 801/tonne by end April-2021. High coal prices will squeeze power generating companies’ profit and operating cash flow, which will be worsened by a lower coal-fired power tariff due to higher market trading volume.
By: Ms.Zhihua Zhang | Ms. Diana Xia
Fitch Ratings, China
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Thursday, 13 October 22
OPEC DOWNGRADES CRUDE OIL DEMAND, AS WORLD ECONOMY ENTERS SLOWDOWN
Crude Oil Price Movements
The OPEC Reference Basket (ORB) declined m-o-m by $6.58 in September, or 6.5%, to average $95.32/b. Pressure from equ ...
Wednesday, 12 October 22
MARKET INSIGHT - INTERMODAL
Sale and Purchase activity during the first three quarters of 2022 has been remarkable.
Focusing only on Tankers and Bulkers, such v ...
Monday, 10 October 22
ENERGY TRANSITION BOOSTS GLOBAL LONG-TERM DEMAND FOR METALS - FITCH RATINGS
The energy transition will significantly increase demand for metals used in manufacturing of electric vehicles (EVs) and renewable power generation ...
Monday, 10 October 22
GLOBAL CEOS EXPECT IMPENDING RECESSION TO BE 'SHORT AND SHARP,' POLL SHOWS - CNBC
Global CEOs are anticipating a recession in the next 12 months, according to a new survey by professional services firm KPMG, which said more than ...
Thursday, 06 October 22
AUSTRALIA’S RESOURCES REVENUE TO HIT RECORD AMID UKRAINE CONFLICT - REUTERS
Australian resources and energy export earnings are forecast to jump 7% to a record A$450 billion ($290 billion) this fiscal year, bolstered by soa ...
|
|
|
Showing 211 to 215 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- The University of Queensland
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
|
| |
| |
|
