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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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Friday, 14 November 14
U.S. WEEKLY COAL OUTPUT SLIPS SLIGHTLY WEEK ENDING NOVEMBER 08
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.9 million short tons (mmst) of coal ...
Thursday, 13 November 14
SLOWER AND LOWER HAS BEEN THE TREND OF THE PANAMAX IN BOTH HEMISPHERES - FEARNLEYS
Handy
We are experiencing an oversupply of tonnage in the Atlantic which is out numbering the amount of cargoes, Fearnleys broker says in its lat ...
Thursday, 13 November 14
DRY BULK MARKET'S REBOUND HINGES ON IRON ORE OVERSUPPLY ISSUES MOVING FORWARD - HELLENIC SHIPPING NEWS
“One man’s benefit, is another man’s demise” is a phrase which can be used to describe today’s situation in the dry b ...
Thursday, 13 November 14
COAL MINISTER WANTS INDIA TO STOP COAL IMPORTS IN TWO OR THREE YEARS
COALspot.com: India to ramp up coal production to a billion tonnes by 2019 from its current level of 490 million tones. According to Power and Coal ...
Thursday, 13 November 14
MODERN DRY BULK SHIPS' PRICES START FIRMING UP - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
While the main story of the past few weeks has been the rebound of the dry bulk market, which has been a result of increased Chinese iron ore impor ...
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- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Planning Commission, India
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- The University of Queensland
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- ICICI Bank Limited - India
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