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Friday, 13 November 15
WEAK CHINA POWER DEMAND DAMPENS COAL CONSUMPTION - FITCH
 The weak growth in China's electricity consumption in 2015, together with increasing non-thermal power generation capacity are exerting more pressure on the thermal coal market, which is already suffering from over capacity, says Fitch Ratings.
Fitch Ratings further says, overcapacity looms in China's power generation industry, with coal-fired power at most risk. China is experiencing the slowest power consumption growth in three decades - power consumption only increased 0.8% yoy during 9M15, largely due to a 0.9% yoy drop in industrial demand that accounts for 70% of overall power usage. Despite weak electricity demand, generation capacity increased by 9.4% yoy in the same period, of which half came from renewable and nuclear generation sources. Coal-fired power supply contracted 2.2% yoy during 9M15. China's total coal consumption in 9M15 was 2.9bn metric tonnes (MT), down 4.6% from the same period last year.
Consumption of coal-fired power is unlikely to increase significantly in the next 12 to 18 months, given our expectation of weaker economic growth in China, as well as the overall reduction in the energy intensity of the Chinese economy.
Furthermore, "we expect significant addition of renewable-energy generation capacity in the medium term, which is likely to further depress utilisation levels of coal-fired power plants in the absence of a substantial pick up in the energy-intensive industries. Some 177GWs of new generation capacity was under construction as of September 2015, or 13% of 2014 total installed capacity; clean energy sources account for just over 50% of this additional capacity.", says Fitch.
China's key thermal coal reference price, the Qinhuangdao 5,500-kilocalorie power coal price, has fallen 30% to CNY360/MT at end-October 2015, from CNY515/MT at the beginning of 2015. Prices have continued to be under pressure despite imports falling 29.8% yoy to 156m MT in 9M15, and domestic production falling 4.3% yoy to 2.7bn MT in 9M15 following production cuts, including cuts by large operators such as China Shenhua Energy Company Limited (A+/Stable) and China Coal Energy Company
Limited.
"We expect sustained low coal prices and the limited potential for further cost cuts to lead to more mine closures, which will bring some balance to the market over the medium-term. This may also lead to some consolidation in the highly fragmented coal mining industry in China, with large players increasing their market share - this is more likely to happen via stronger players sustaining or increasing their production as the weak leave the market, than by strong players acquiring distressed assets."Fitch Concluded.
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Friday, 18 December 15
WHEN IS A MASTER ENTITLED TO REFUSE DAMAGED CARGO? A REMINDER - THE STANDARD CLUB
KNOWLEDGE TO ELEVATE
A master’s authority to clause bills of lading issued by or on his behalf can sometimes become the cause of disagreeme ...
Friday, 18 December 15
CHINA GROWTH SHOCK TO HIT ENERGY, SHIPPING, STEEL MOST - FITCH
Energy, shipping and steel would be the hardest-hit sectors in Asia-Pacific (APAC) in the event of a sharp slowdown in Chinese growth, says Fitch R ...
Friday, 18 December 15
WEEKLY U.S. COAL PRODUCTION REMAINS FLAT ACROSS ALL BASINS
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 16.1 million shor ...
Thursday, 17 December 15
THE LOW DEMAND AND EXCESS COAL OUTPUT, KEEP THE FOB INDONESIA COAL SWAPS UNDER PRESSURE
COALspot.com: Indonesian coal swap for delivery Q1 2016 rose month on month and decline slightly week over week. For the week ended December 11, 20 ...
Thursday, 17 December 15
GLADSTONE PORT COAL RECORD LOOMING, EXPORTS UP 12% - GLADSTONE OBSERVER
COAL exports from Gladstone's port have taken a leap, with more than seven million tonnes leaving the wharves in November.
That increase i ...
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- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Central Electricity Authority - India
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Deloitte Consulting - India
- MS Steel International - UAE
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
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