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Wednesday, 16 December 09
CHINA 2010 COAL TERM PRICES SEEN RISING 8% ON YEAR
Term prices of thermal coal for 2010 in China are expected to rise about 8 percent from this year's levels, as demand for power has been roaring back due to steady economic recovery, analysts and industry officials said.
But higher coal prices may bring a tough year for power plants, in the absence of power tariff hikes or pricing scheme reforms.
Six analysts surveyed by Reuters expect term prices for thermal coal, used in power generation, to rise between 5 and 20 percent from this year's levels, with consensus around 8 percent.
"I think an 8 to 10 percent rise would be reasonable, given the rapid climb in spot prices, as well as strong demand for coal and power," said Martin Wang, an analyst at Guotai Junan Securities in Hong Kong.
"Utilities, however, are facing a tough year. They might still be able to make a profit, after they've phased out the inefficient power generators. But the profit margin would vary from company to company."
Coal miners and power plants were in a stalemate over this year's term prices for months, before some power plants quietly accepted price hikes demanded by coal miners, as power consumption recovered and spot coal prices strengthened.
Spot thermal coal prices in Qinhuangdao, the country's top coal shipping port, rose nearly 30 percent from mid-September, when prices started to steadily climb.
Coal with calorific value of 5,500 kcal/kg (NAR) was quoted in the range of 730 yuan to 750 yuan ($106,9 - $109,9) a tonne, according to the Qinhuangdao Seaborne Coal Market.
The current price is about 37 percent higher than 540 yuan a tonne, the benchmark free-on-board term price offered by Shenhua, China's top coal producer.
Meanwhile, China's power generation in November rose 26,9 percent on the year, the fastest growth in nearly 4 years, as industrial activities continued to accelerate and cold weather spurred heating demand.
TOUGH YEAR AHEAD FOR UTILITIES
Power utilities, which just returned to profit this year due to lower coal prices, are again facing steep rises in production cost and coal miners with increasing negotiating power.
"There is an increasing monopoly in the coal industry, as the consolidation is pushing forward. But the power sector is still segmented," said an executive at a large power generating group.
China's five major power generating groups, including the parents of GD Power Development Co Ltd, China Power International, Datang International Power Generation Co Ltd, Huadian Power and Huaneng Power International, generate nearly half of national output.
"We can't do anything. If coal costs rise, we'll probably see sector-wise losses again," said the executive.
Beijing has cancelled the annual coal price negotiating conference and instead asked suppliers and users to complete deals within a month, while pledging to improve the power tariff pricing scheme and keep coal prices stable.
Source: Reuters / Mining weekly
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Tuesday, 08 December 09
HIGH GLOBAL COAL PRICES HIT POWER PROJECTS
Spot prices for the fuel have appreciated almost 10% in November.
After a sedate year, rising coal prices could hit the coffers of import-based d ...
Monday, 07 December 09
HOW INDIA CAN CUT ITS ENERGY NEEDS BY 20%!
Using energy more efficiently can reduce our energy needs by one fifth; it is a strategy we must pursue even as we promote renewables, says Kirit Pa ...
Monday, 07 December 09
ASIA COAL POWER IN INDONESIA DISCUSSES NEW MINING LAW, COAL AND POWER SECTORS AS INVESTMENTS POUR INTO COALMINES TO SECURE SUPPLIES
COALspot.com (Singaproe): Press Release - Asia Coal Power pinpoints growing power demand in Asia & Power sector investments in Indonesia's coal ...
Monday, 07 December 09
DRY BULK RATES' VOLATILITY TO STAY, BUT RECOVERY IS UNDERWAY SAYS ION VAROUXAKIS HEAD OF FREESEAS
In an interview with Hellenic Shipping News, Mr. Ion G. Varouxakis, Chairman of the Board, President and CEO of Nasdaq-listed Freeseas, explains why ...
Monday, 07 December 09
VEDANTA RESOURCES ISSUES TENDER TO IMPORT 2.25 MILLION COAL
COALspot.com (India): Vedanta Resources plc is a London stock exchange listed FTSE 100 diversified metals and mining major with revenues in excess o ...
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- Krishnapatnam Port Company Ltd. - India
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
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- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
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- Ministry of Transport, Egypt
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- Chamber of Mines of South Africa
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- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
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- The University of Queensland
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- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
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- London Commodity Brokers - England
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
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- TeaM Sual Corporation - Philippines
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- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
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- Simpson Spence & Young - Indonesia
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- Ministry of Finance - Indonesia
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- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
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- New Zealand Coal & Carbon
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- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
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- Australian Commodity Traders Exchange
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- Petron Corporation, Philippines
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- Bhushan Steel Limited - India
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
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- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
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- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
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- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Ministry of Mines - Canada
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