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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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- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Mjunction Services Limited - India
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- The University of Queensland
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
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