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Thursday, 07 December 23
CHINA TO SET UP COAL PRODUCTION RESERVE TO STABILISE PRICES - REUTERS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even as it aims to start phasing down coal use in the second half of this decade.
Draft rules for the new system did not give details on exactly how the reserve would work, but said the aim was to have 300 million metric tons of “dispatchable” annual coal production by 2030, equivalent to 7% of its 2022 production.
China is the world’s top coal consumer and producer. Last year it produced a record 4.5 billion metric tons.
Beijing set a goal in 2021 to have coal reserves equivalent to 15% of its annual consumption stocked at mines, ports, power plants and some designated storage areas.
The new system will build on these stockpiles by ensuring that a certain amount of production capacity is ready to be mined when needed.
Mines with at least 3 million tons of production capacity a year can apply to be included, said the National Development and Reform Commssion (NDRC). They must be able to dispatch output when the government deems spot prices to have exceeded a “reasonable” range or when supplies are tight.
The move comes as China continues to worry about energy security after a crippling domestic coal and power shortage in 2021 and a European energy crisis last year stoked by Russia’s war on Ukraine, which sent prices of natural gas soaring.
That has prompted Beijing to boost mining of coal and accelerate approvals for new coal power plants, even though it has previously pledged to reduce coal use in the five-year plan beginning in 2026.
The new production reserve is designed to “reduce volatility in short term markets, and also provide a lever to punish speculators or price manipulators”, said David Fishman of Shanghai-based energy consultancy the Lantau Group.
China launched probes into soaring coal prices during the 2021 power shortage.
Prices on NDRC’s Bohai Rim Thermal Coal Price Index jumped from 526 yuan per ton in May 2020 to a peak of 848 yuan per ton in October 2021. However, prices have been relatively steady this year, hovering between 715 yuan and 734 yuan per ton.
The draft rules are open for public comment until Jan. 6, 2024.
Source: Reuters
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Friday, 10 November 23
THE COMMODITIES FEED: OIL UNDER PRESSURE - ING
Energy – Brent plummets
The oil market came under significant pressure yesterday. ICE Brent settled 4.19% lower on the day and ...
Friday, 10 November 23
COAL USE AT U.S. POWER PLANTS CONTINUES DOWNWARD SPIRAL; FULL IMPACT ON MINES TO BE FELT IN 2024 - IEEFA
This year, the use of coal by the U.S.’s power producers has been so anemic that the fuel has not achieved a 20% market share in any month so ...
Friday, 10 November 23
INDIA: NATIONAL COAL INDEX RISES 3.83 POINTS IN SEPTEMBER AMID HIGHER DEMAND - LIVEMINT
The National Coal Index (NCI) rose 3.83 points to 143.91 in September amid growing demand for coal.
The union coal ministry on Tuesd ...
Thursday, 09 November 23
WE'RE PRODUCING TOO MUCH COAL, OIL AND GAS, REPORT SAYS - WSJ
World leaders pledged in 2015 to reduce emissions in a combined effort to limit climate change.
Now they are stepping up production ...
Thursday, 09 November 23
GREEK AND CHINESE COMPANIES OWN 34% OF THE GLOBAL FLEET’S CARGO CAPACITY - BIMCO
“The global fleet of cargo carrying ships consists of around 61,000 ships with a deadweight capacity of about 2,200 million tonnes. The ships ...
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- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- The University of Queensland
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
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