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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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Tuesday, 24 November 15
COAL PRICES SET TO REMAIN UNDER PRESSURE UNTIL 2016 DUE TO OVER SUPPLY GLUT; H1 '16 COAL SWAPS DOWN 13% M-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery slid $5 per ton (12.05%) month over month to US$ 36.50 per ton. The s ...
Monday, 23 November 15
NEGATIVE 2016 OUTLOOK FOR WESTERN EUROPEAN STEEL - SAYS FITCH RATINGS
COALspot.com: European steel in 2016 are both negative for the sector and for issuer ratings.
This reflects our expectation that import levels ...
Monday, 23 November 15
DRY BULK MARKET: NET FLEET GROWTH IS SLOWING DOWN, AS SHIP OWNERS ARE LOOKING FOR WAYS TO ALLEVIATING MARKET MELTDOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been in “meltdown” mode for a few weeks now, unable to find support and avoid the fall in historical lows. As s ...
Monday, 23 November 15
CS50 COAL INDEX CLOSED AT $40.27 PER TON; FELL 0.15% FROM LAST WEEK
COALspot.com: The 5700 GAR CS (i) coal index fell by US cents 3 per ton week over week on 20 November 2015. CS 57 (5700 GAR coal) index closed at U ...
Monday, 23 November 15
CFR SOUTH CHINA COAL SWAPS FALL FURTHER ON LOW DEMAND
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery declined US$ 6.75 (13.99%) per ton month over month.
A commodity swa ...
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- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Minerals Council of Australia
- Romanian Commodities Exchange
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- The University of Queensland
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
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