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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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Thursday, 03 December 15
DRY BULK: THERMAL COAL LOWER USAGE UNDER A POTENTIAL NEW CLIMATE DEAL WILL ADVERSELY IMPACT THE MARKET'S RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In direct contrast to the tanker market, the dry bulk one has seen demand for key commodities, such a coal, dwindling down over the course of the p ...
Thursday, 03 December 15
PANAMAX BUSINESS REMAINED UNDER PRESSURE LAST WEEK
COALspot.com: Following the new record lows the Dry Bulk market witnessed the week prior, the BDI took a much needed breath during the past days.
...
Wednesday, 02 December 15
Q3' 16 FOB RICHARDS BAY COAL SWAP SLIGHTLY UP FOR THE THIRD STRAIGHT WEEK
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q1’ 2016 up month over month and fell week over week.
The Q1’ 2016 &nbs ...
Wednesday, 02 December 15
MARKET INSIGHT - VASSILIS LOGOTHETIS
Boom and bust cycles in commodity prices are not something rare, yet they have important implications both for the world economy in general and for ...
Tuesday, 01 December 15
FOB NEWCASTLE COAL SWAP UP THIS PAST WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery slid $3.75 per ton (9.26%) month over month to US$ 36.75 per ton. The swap ...
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- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
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