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Thursday, 23 September 21
LONGER COAL CONTRACTS MAY REIN IN PRICES - ECNS
In China’s coal sector that has been marred recently by price surges, regional authorities and related enterprises should ensure the fuel consumed by power generators and heat supplying companies is sourced under medium- and long-term contracts, a recent guideline released by the National Development and Reform Commission, the country’s top economic regulator, stated.
Wei Hanyang, a power market analyst at BloombergNEF, said,”The policy aims to curb the coal price surge, which could otherwise be unaffordable for power plants or lead to higher power tariffs, which are undesirable for the Chinese economy.”
Wei said the guideline has raised the contract requirements for both buyers and sellers of coal compared with the previous instruments.
He said the guideline is conducive to safeguarding the long-term interests of both suppliers and consumers of coal.
The NDRC ordered thermal power suppliers and heat suppliers to sign additional medium- and long-term coal agreements with coal producers based on their existing contracts this year, to ensure their annual coal consumption will be 100 percent covered by these deals.
The medium- and long-term contracts refer to contracts signed by players on both the supply side and the demand side for a period of one year or longer with a clear quantity and price mechanism, the NDRC guideline stated.
Wei said, “Coal companies are likely to be willing to surrender some margins, which is why a renewed contract for coal sales is needed, and now power plants can minimize exposure to any surges in the spot coal price.”
China has been experiencing coal shortages for more than three months with prices remaining at high levels, which place a heavy cost burden on utilities.
China’s coal prices soared to a record high this month and demand has also remained robust with power plants in northern parts of China beginning restocking ahead of the winter heating season.
The NDRC guideline encourages both sellers like coal producers and consumers of coal like power generators and heat suppliers to sign contracts for three years or longer periods. The supply volume of three-year or longer contracts should represent 30 percent of all medium- and long-term contracts, it said.
Last year, China’s coal consumption reached 4.04 billion tons, accounting for 56.8 percent of the total energy consumption.
The coal consumption in the power generating and heat supplying sectors is almost 2.38 billion tons, accounting for 59 percent of the country’s total coal consumption.
A high coal price would lead to a net loss for the electric heating supply enterprises and thus have an impact on the economy and people’s livelihood.
The proportion of coal consumption in China is expected to drop to about 51 percent by 2025, according to a report from the China Electric Power Planning& Engineering Institute.
Source: Ecns.cn
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Monday, 25 October 21
A QUESTION OF POSSESSION - THE BALTIC EXCHANGE
Possession and tangibility are closely related concepts long established under English law. Yet a change to these concepts is around the corner. Th ...
Monday, 25 October 21
CHINA VOWS TO SEVERELY PUNISH MARKET VIOLATIONS AMID LOW COAL FUTURES PRICES - GLOBAL TIMES
Domestic coal futures had plunged for three consecutive trading days after the government vowed to crack down on soaring prices, and China’s ...
Monday, 25 October 21
FARMERS MAY JOIN THE COAL COMMODITY MARKET TO REDUCE RISKS - GLOBAL TIMES
A recent trip to by the Global Times to East China’s Shandong Province to get a glimpse of China’s coal supply chain revealed a surpris ...
Monday, 25 October 21
CHINA COAL PRICES MARK WORST WEEK SINCE MAY ON GOVERNMENT INTERVENTION - REUTERS
China’s thermal coal futures plunged on Friday and turned in their worst week in five months, following Beijing’s strongest interventio ...
Friday, 22 October 21
THE BIG PICTURE: ENERGY MARKETS - BREAK WAVE ADVISORS
The shipping markets have been pulled further into wild markets of coal and other energy sources. Given how nebulous this sector is, it’s alw ...
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- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
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- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
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- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
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- Commonwealth Bank - Australia
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- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
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- Standard Chartered Bank - UAE
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- Minerals Council of Australia
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- White Energy Company Limited
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- The University of Queensland
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- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
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- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
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- Cement Manufacturers Association - India
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- Independent Power Producers Association of India
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- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Indika Energy - Indonesia
- GMR Energy Limited - India
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- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
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- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
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- Bhoruka Overseas - Indonesia
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- Metalloyd Limited - United Kingdom
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- Trasteel International SA, Italy
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
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- GAC Shipping (India) Pvt Ltd
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- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
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- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- MS Steel International - UAE
- Australian Coal Association
- Marubeni Corporation - India
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
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- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
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