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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, 07 November 14
U.S. PRODUCED 85.60 MILLION SHORT TONS OF COAL IN OCTOBER, UP 2.88% M-O-M
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.0 million short tons (mmst) of coal ...
Thursday, 06 November 14
THE ATLANTIC HAS REMAINED STRONG WITH A HEALTHY SUPPLY OF NEW CARGOES
Handy
This week has continued its slow trend in both hemispheres and even though rates are a bit up w-o-w it is not a clear sign for any improvem ...
Wednesday, 05 November 14
CAPESIZE SEGMENT ENJOYED FIRMING RATES ACROSS BOTH BASINS
Following a fantastic week in terms of rate performance for Capes, the Dry Bulk market managed to note another positive weekly closing, which stron ...
Wednesday, 05 November 14
SHIPPING MARKET INSIGHT - PANOS TSILINGIRIS
COALspot.com: The steep appreciation in dry bulker values between late 2012 and March 2014 resulted in unrealistically expensive ship values compar ...
Tuesday, 04 November 14
INDONESIAN COAL SWAPS FOR 2015 DELIVERIES SHOW A WEAK TREND
COALspot.com: Indonesian coal swaps for delivery Q4' 2014 lost month on month and gained day on day and week on week, the trend was same as las ...
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- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
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