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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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Wednesday, 25 November 15
INDIA'S POWER GENERATORS FACE LOW, FALLING UTILISATION RATE - FITCH
COAlspot.com: Fitch Ratings says in a new report that the utilisation rate of India's thermal power generation capacity continued to decline in ...
Wednesday, 25 November 15
BIG CHINESE COPPER PROCESSORS DEFEND MARGINS THROUGH R&D, SAYS FITCH
Large Chinese copper processors are focusing on higher value-added products and investing in R&D to enhance their technical know-how to maintai ...
Wednesday, 25 November 15
BIMCO LAUNCHES ANTI-CORRUPTION CLAUSE FOR SHIPPING CONTRACTS WORLDWIDE
COALspot.com: BIMCO, is the world’s largest international shipping association, with 2,200 members in around 130 countries, has now launched ...
Wednesday, 25 November 15
TANKER MARKET INSIGHT - GEORGE VASTARDIS
We have already noticed obvious signs of activity mainly West of Suez, which are currently driving the clean MR market to higher levels. Over the p ...
Tuesday, 24 November 15
COAL SUPPLY PRESSURE PUTS INDONESIAN HBA IN FREE FALL
The coal industry is slowly recognizing that, the current coal price level is not a decrease in price, but a change in pricing to corresp ...
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- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Planning Commission, India
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- The University of Queensland
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- White Energy Company Limited
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- MS Steel International - UAE
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
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