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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, 12 November 14
PANAMAX: WITNESSED A FAIRLY STABLE MARKET IN THE ATLANTIC
COALspot.com: Despite the fact that the Dry Bulk market noted another weekly increase, clouds of uncertainty returned mid-week onwards, as the mini ...
Wednesday, 12 November 14
SHIPPING MARKET INSIGHT - CHRISTOPHER T. WHITTY
COALspot.com: The fight continues between the low-cost iron ore producers and the big three: Vale, Rio Tinto and BHP Billiton. We are moving into a ...
Tuesday, 11 November 14
FACING CHALLENGES AND MEETING OPPORTUNITIES - INTERNATIONAL EPC CONFERENCE & EXHIBITION
Press Release: SKYCONNECTION and TRANSEVENT, which is fully supported by the Institution of Engineers Indonesia and Ministry of Industry of the Rep ...
Tuesday, 11 November 14
NEWCASTLE COAL SWAP CLOSED AT $ 52.65 FOR Q1' 15 DELIVERY
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery decreased US$ 2.83 (-5.10%) month over month and US$ 1.35 (-2.50%) week ove ...
Tuesday, 11 November 14
PORT OF NEWCASTLE'S OCTOBER COAL SHIPMENTS SLIPPED 7.40% M-O-M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1,115.7 mil ...
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- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- The University of Queensland
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- Minerals Council of Australia
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- London Commodity Brokers - England
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- PTC India Limited - India
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
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