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Wednesday, 08 July 09
HUADIAN POWER BUYS INTO COAL MINERS
 Huadian Power International Corporation - China's largest independent power producerCannounced Tuesday in a filing to the Shanghai Stock Exchange that it was buying into two Shanxi coal companies through one of its wholly-owned subsidiaries.
The move indicates the company's expansion into upstream business to secure power coal supply and reduce operational risks, said a China Securities Journal report.
Huadian Power International, the listed arm of one of China's five leading power producers, China Huadian Corp, bought a 70 percent stake in each of the two coal companies for 397.6 million yuan ($58.19 million) and 362.6 million yuan respectively.
One of the coal miners will be put into production by the end of this year and the other by the first half of next year, according to the company statement.
With coal reserves of about 290 million tons, the coal companies will provide steady power coal to Huadian Power International's coal-fired power plants, especially for those in Shandong province, the statement noted.
The purchase shows Huadian Power International's determination to achieve coal self-sufficiency and will play a positive role in improving its future performance, the report said, citing an electricity industry researcher.
China, the second largest power consumer in the world, uses coal to generate about 80 percent of its electricity; therefore thermal coal prices are fairly sensitive to the country's power generators.
Chinese coal-fired power plants incurred losses of about 70 billion yuan in 2008 and the country's five leading power-generating companies lost about 30 billion yuan due to soaring power coal costs and the State's price cap on electricity, said Zhai Ruoyu, general manager of China Datang Corp in March this year.
Spot thermal coal prices in China reached a record high of over 1,000 yuan a ton last July. Now, it is hovering around 570 yuan per ton.
On the other hand, the unsuccessful annual coal price negotiation in late December pushed thermal power generators to seek more reliable coal supply sources.
Each year, China's coal producers and power companies sit down to negotiate the following year's contract coal prices, which have long been a bone of contention.
Negotiations for 2009 coal prices resulted in a deadlock, as domestic coal miners aimed to charge power producers 10 percent more for fuel under the 2009 annual contracts, while power producers wanted a price cut of as much as 10 percent.
In order to be less vulnerable to domestic coal prices and less dependent on domestic coal miners, Chinese power enterprises stepped into the coal-mining industry in succession and bought more coal from abroad.
China Datang Corp, also one of the country's five biggest power generators, has been given the green light to expand into the coal- mining business, authorities said in March.
The Customs statistics showed China's coal import reached 9.43 million tons in May, more than double that in the same period of last year. China's coal import and export amounted to 32.20 million and 10.53 million tons respectively in the January–May period, or a net import of some 22 million tons.
China's five biggest power generators include China Huaneng Group, China Datang Corp, China Guodian Corp, China Huadian Corp and China Power Investment Corp.
Source:china.org.cn
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Tuesday, 13 December 22
AUSTRALIA TO CAP PRICES OF COAL, GAS TO DRIVE DOWN ENERGY BILLS - REUTERS
Australia will cap coal and gas prices for a year in a bid to shave utility bills for households and businesses hit by soaring costs because of the ...
Tuesday, 13 December 22
YANCOAL AUSTRALIA TO PREPAY $459 MLN DEBT AS RECORD COAL PRICES BOOST CASHFLOWS - REUTERS
Coal miner Yancoal Australia Ltd. said on Friday it intended to prepay $459 million of its debt on or around Dec. 16, as elevated coal prices were ...
Tuesday, 13 December 22
WHY COAL LEADS THE RISE IN COMMODITIES THIS YEAR - MARKETWATCH
This year marked a resurgence for coal, often known — and loathed — by environmentalists as the dirtiest energy source, with prices mor ...
Thursday, 08 December 22
BIMCO TO REVISE WAR RISK CLAUSES
Work to revise the BIMCO War Cancellation Clause 2004, the BIMCO War Risks Clause for Time Chartering 2013 (CONWARTIME 2013) and the BIMCO War Risk ...
Thursday, 08 December 22
COAL ROYALTY PAYMENTS BOOST AUSTRALIAN STATE'S BUDGET FORECAST - REUTERS
Australia’s Queensland state on Wednesday forecast a record surplus for the current financial year, largely driven by higher royalty payments ...
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- Bulk Trading Sa - Switzerland
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- London Commodity Brokers - England
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- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
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- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Marubeni Corporation - India
- MS Steel International - UAE
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
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- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
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- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
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- Parliament of New Zealand
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- Bangladesh Power Developement Board
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- Larsen & Toubro Limited - India
- PTC India Limited - India
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
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- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
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- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
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- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
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- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
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- Electricity Authority, New Zealand
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- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Planning Commission, India
- Orica Australia Pty. Ltd.
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
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- Ministry of Transport, Egypt
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- Ministry of Finance - Indonesia
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- Gujarat Electricity Regulatory Commission - India
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- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
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- The University of Queensland
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- Electricity Generating Authority of Thailand
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- Australian Coal Association
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
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