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Friday, 21 January 22
CHINA'S POWER TRADING TARIFFS TO RISE IN 2022 - FITCH RATINGS
 Rising trading volume and higher-than-benchmark tariffs in the 2022 bilateral contracts signed between Chinese power generation companies (gencos) and end-users signal an increase in power trading tariffs, reflecting the gencos' intention to recoup profit amid elevated coal prices and increased participation in market trading by commercial and industrial (C&I) customers, says Fitch Ratings.
Some Chinese power gencos enter into the next year's annual market trading contracts with end-users - mainly C&I customers - at the end of the current year. The bilateral contracts account for most of their annual trading volume and set the tariff agreed upon between both parties.
Jiangsu province's 2022 power market trading volume in these bilateral contracts will rise by 9.7% from a year earlier with the average trading tariff for coal-fired power at CNY466.78/MWh, higher than the local benchmark coal-fired tariff by 19.36% and almost reaching the price ceiling of CNY469.2/MWh. Guangdong province's annual electricity to be sold under the bilateral negotiated trading mechanism in 2022 will rise by 21.1% from a year earlier, and its average selling price will exceed its benchmark tariff by 7.35%, in stark contrast to 2021 when the annual traded power was sold at a discount of 11.56% to the benchmark tariff.
The 2022 annual power trading prices in south Hebei, Shaanxi and Hainan provinces will also approach the upper limit of 20% above their provincial benchmark tariffs.
The higher nationwide market trading tariff in 2022 follows a coal price rally in 2021, which significantly squeezed gencos' profit margins. The Qinhuangdao 5,500kcal/kg benchmark thermal coal price fell to CNY945 per tonne on 18 January 2022 after government intervention, from more than CNY1,300/tonne on average in 4Q21, but prices are still much higher than in 2019 and 2020. Fitch expects provinces that experienced severe power shortages in 2021 to set higher market trading tariffs in 2022, as price hikes are more acceptable by most end-users than blackouts.
The Chinese power trading market has also expanded, as all C&I users are now required to participate, implying higher tariffs as a fixed retail tariff is no longer an option for them. The local power grid can serve as their power purchasing agent in the transitional period, but the tariff it offers tends to be more volatile and sometimes higher than that of long-term contracted power from gencos.
Renewable power trading prices agreed upon between gencos and users in bilateral contracts for 2022 in eastern China will also increase. The average trading price of renewable power in Jiangsu province will be CNY72/MWh, or 8.38%, higher than the coal-fired benchmark tariff, while the average price of green power in Guangdong province will be higher by CNY61/MWh, much wider than the CNY30/MWh-CNY50/MWh premium to the coal-fired benchmark tariff in September 2021 when China's pilot scheme for green power trading started.
Fitch expects the premium of renewable power trading prices to rise further in eastern China, where curtailment risk is low due to strong market demand for electricity. The premium over coal-fired tariff is supported by high demand for renewable power from state-owned users, which are now evaluated by their government parents on their performance in achieving carbon-neutrality goals.
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Saturday, 11 December 21
BUNKER BUYERS LOSE UP TO $5/MT FOR NOT COVERING ENOUGH SUPPLIERS - INTEGR8 FUELS
With the Brent price recently touching the $80 mark and before the Omicron variant concerns pushed it lower, bunker prices reached levels not seen ...
Tuesday, 07 December 21
SUPERCYCLE DEMAND: ARE WE THERE YET? - WOOD MACKENZIE
Taking young children on a long journey is fraught with challenges, not least the inevitable question a few minutes after leaving: are we there yet ...
Tuesday, 07 December 21
COAL WOULD REMAIN ENERGY LEADER FOR AT LEAST 15 YEARS - LIVEMINT
Coal India Ltd (CIL) has been in the eye of the storm after fuel stocks at coal-fuelled power plants depleted in October. Fuel stocks since are bei ...
Tuesday, 07 December 21
GLOBAL SHIPPING OUTLOOK TURNS STABLE FROM POSITIVE ON THE BACK OF PEAKING EARNINGS DURING 2021 - MOODY'S
The outlook for the global shipping industry is changed to stable from positive for the next 12 to 18 months due to demand slightly outstripping su ...
Tuesday, 07 December 21
COAL FIRMS SEE SHARE PRICES SURGE MONDAY, AFTER GOVERNMENT READJUSTS CONTRACT PRICES - GLOBAL TIMES
Share prices of China’s coal enterprises jumped on Monday on the A-share market following a nationwide adjustment to annual thermal coal pric ...
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- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- CNBM International Corporation - China
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Australian Coal Association
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Planning Commission, India
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
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