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Friday, 14 November 14
MORE NATURAL GAS FROM RUSSIA TO HELP STABILISE CHINA PRICES - FITCH RATINGS
 COALspot.com: Fitch Ratings has said possible additional natural gas supplies from Russia's OAO Gazprom to China via the Altai pipeline would help China to materially close its demand-supply gap, which would provide greater stability to gas prices in the country.
According to Fitch, on 9 November 2014, Gazprom and China National Petroleum Corporation signed an additional framework agreement to supply 30 billion cubic metres (bcm) of natural gas a year to China via the Altai pipeline, known as the "western route". This follows an agreement signed in May 2014 to supply 38bcm of natural gas to China via the Power of Siberia trunkline, known as the "eastern route".
While no pricing details for the latest agreement are available, Fitch considers it unlikely that the price will be much higher than the "eastern route" agreement, at or above USD350 per thousand cubic metre (around CNY2.2 per cubic metre).This is materially lower than the cost of imported liquefied natural gas (LNG) in Asia; in 2013, LNG accounted for around 15% total gas consumed in China. The two gas supply contracts would make Russia China's single largest gas supplier, overtaking Turkmenistan's 65bcm per year.
China's National Development and Reform Commission (NDRC) have an ambitious natural gas usage target of 360bcm by 2020; in 2013, the demand in China was 168bcm. Progress in securing piped gas from both Russia and central Asia is critical to achieving that target as domestic production growth has been slow.
Aside from ensuring sufficient supply, the contracts with Russia also ensure supply at prices cheaper than LNG, which will stabilise natural gas prices in China over the medium term. We estimate that a higher proportion of gas being procured through pipelines would keep China gas prices at around CNY3 per cubic metre.
Currently, domestic conventional gas is priced at around CNY1.2 per cubic metre. The NDRC has been raising the city-gate level prices to increase the economic incentives for domestic gas production as well as to compensate for the higher share of LNG in the supply. Assuming domestic conventional gas and synthetic natural gas (SNG) prices converge with the current pipeline gas price at around CNY2.2 per cubic metre, a CNY3 per cubic metre price will allow approximately CNY1 per cubic metre on average as gas transmission costs in China. On this basis, the potential gas price increase between now and 2020 will be around CNY0.5 per cubic metre, which translates to a manageable price increase of around 3% a year through 2020.
Fitch views the latest pipeline gas deal as positive for domestic city gas operators such as China Resources Gas Group Limited and ENN Energy Holdings Limited in the long run. Securing a stable supply ensures their growth potential will be fully met as China's natural gas sector has historically been constrained by insufficient domestic supply. Stabilisation of gas price, on the other hand, reduces the risk of margin compression caused by increasing gas purchasing cost and delays in pass-through to end users. China substantially closing the demand-supply gap with pipeline supplies will also mean downward pressure on Asian LNG prices, which is positive for importers. We also believe this is beneficial for the profitability of CNPC's mid-stream gas supply operations.
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Wednesday, 19 November 14
SHIPPING MARKET INSIGHT - BY KATERINA RESTIS
The current Ebola outbreak in West Africa has been declared as a worldwide health emergency by the World Health Organization and has had a great im ...
Tuesday, 18 November 14
VALEMAX DEAL TO DETERMINE DRY BULK MARKET'S FATE - DREWRY MARITIME RESEARCH
Vale’s accord to sell and lease four Valemax vessels to COSCO might have negative repercussions on dry bulk freight rates. Vale has committed ...
Tuesday, 18 November 14
SUB-BIT FOB INDONESIA COAL SWAP DELIVERY Q2' 2015 CLOSED AT $ 49.55; DOWN 4.10% M-O-M
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month, gained week on week and day on day.
The Q1 swap has lost US ...
Tuesday, 18 November 14
FOB RICHARDS BAY COAL SWAP FOR Q1' 2015 DELIVERY CLOSED AT $ 66.31; UP 1.33% W-O-W
COALspot.com: API 4 FOB Richards Bay Coal swap for Q1’ 2015 delivery has gained US$ 0.27 (+0.41%) month over month and US$ 0.87 (+1.33%) week ...
Tuesday, 18 November 14
CHEAP OIL PRICES COULD RESHAPE GLOBAL OIL EXPORTING MAP - HELLENIC SHIPPING
Tanker owners have enjoyed a rather healthy 2014, but as the year draws to a close, the fall of oil prices is bound to reshape traditional, as well ...
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- Planning Commission, India
- White Energy Company Limited
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Australian Coal Association
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Eastern Energy - Thailand
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- VISA Power Limited - India
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
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