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Friday, 31 July 15
CHINA'S NEW OIL IMPORT RULES HAVE MINIMAL IMPACT ON STATUS QUO - FITCH
 Fitch Ratings says that China's looser criteria for crude oil import rights are a positive but modest step towards encouraging private-sector participation in the country's refining industry. The rating agency believes the established state-owned players will maintain their dominant market position in the country's oil and gas sector in the near to mediumn term.
China's Ministry of Commerce announced on 23 July that refiners or petrochemicaln companies that have at least one crude distillation unit with minimum yearly processing capacity of 2 million tonnes, oil storage capacity of 300,000 tonnes, and an available credit line of USD1bn from commercial banks, among other criteria, would be eligible to apply for a licence to import crude oil. Previously, the criteria included two years' experience in importing oil, which effectively ruled out many private refiners.
Fitch views this as only an initial step towards increasing private-sector participation in a market that has been dominated by state-owned enterprises (SOEs). Independent refiners' profitability could be enhanced, as those with an import license will be able to source for crude oil from more than just the country's current five designated importers, which include the three biggest oil and gas SOEs.
This latest change and the liberalisation of oil product prices that was effective September 2013 will encourage the upgrading or phasing-out of inefficient, small-scale facilities.
The incentives for private-sector companies to expand in China's refining industry, though, remain limited by regulation of oil product exports, domestic product price controls (albeit loosened), and limited domestic marketing channels. The slower demand growth in the near term and refining overcapacity, especially for diesel, would also reduce the benefits from the new rules.
The Big Three oil and gas SOEs - China National Petroleum Corporation (CNPC,A+/Stable), China Petroleum & Chemical Corporation (Sinopec, A+/Stable) and CNOOC Limited (A+/Stable) - account for over 70% of the country's refining capacity. Fitch does not expect the three companies' strong market positions and strategic importance to the state to be eroded in the foreseeable future, although their oil trading profits may be modestly trimmed. The new rules mark a continuation of the government's push for more private-sector participation in the oil and gas sector, in the same vein as Sinopec's sale of part of its marketing unit in 2014 and CNPC's disposal of some of its pipeline assets in 2013.
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Wednesday, 05 August 15
SHIPPING MARKET INSIGHT - KATERINA RESTIS
On July 14th, 2015 a historical consensus was reached in Vienna between Iran and the five permanent members of the U.N. Security Council, plus Germ ...
Wednesday, 05 August 15
COAL CONSUMPTION POSTED THE STRONGEST GROWTH AMONG THE FOSSIL ENERGY SOURCES IN 2014 - VDKI
Coal 2014: again the world's fastest-growing primary energy source and an indispensable asset for the success of the energy turnaround.
Ac ...
Wednesday, 05 August 15
FOB INDONESIA THERMAL COAL SWAPS FALL
COALspot.com: Indonesian coal swap for delivery 4Q 2015 declined month on month and week over week, this past week.
The 4Q swap was declined $ ...
Wednesday, 05 August 15
DRY BULKER PRICES START TO FIRM UP AS MARKET SENTIMENT IMPROVES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Market pessimism in the dry bulk industry, a trend which had established itself over the course of the year, has started to fade away over the past ...
Tuesday, 04 August 15
FOB RICHARDS BAY COAL SWAPS CONTINUE TO FALL DUE TO SLIDING DEMAND
COALspot.com: API4 FOB Richards Bay Coal swap for delivery 4Q' 2015 declined month over month and week over week.
The 4Q swap was down US$ ...
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- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Minerals Council of Australia
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
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- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- PTC India Limited - India
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Australian Coal Association
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
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- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
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- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Mjunction Services Limited - India
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