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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, 11 November 15
VESSEL VALUES ARE DOWN BY AT LEAST 20% SINCE MID-AUGUST - INTERMODAL
I had promised not to spend another broker’s insight focusing on the dry bulk side. However, the sale of the M/V Churchill Bulker (179,362 dw ...
Tuesday, 10 November 15
SELF-HEATING OF COAL HAS EMPHASISED THE IMPORTANCE OF CHECKING THE ACCURACY OF SHIPPER'S DECLARATIONS - GARD
Recent incidents involving self-heating of coal has emphasised the importance of checking the accuracy of shipper’s declarations for all type ...
Tuesday, 10 November 15
API 5 FOB NEWCASTLE COAL SWAP SLIDES CONTINUE
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery slid $3.55 per ton (8.50%) month over month to US$ 38.20 per ton. The swap ...
Monday, 09 November 15
BUNKER PRICES TO KEEP SLIDING THIS WEEK, EXPERT SAYS - MARINE BUNKER EXCHANGE
The oil price volatility has continued this week. Two dollars up one day and the next day two dollars down. The oil market has been trading on the ...
Monday, 09 November 15
CFR SOUTH CHINA THERMAL COAL SWAP FOR Q3' 16 CONTRACT DECLINED US$ 4 PER TON
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery declined US$ 4.35 (9.03 %) per ton month over month.
A commodity swa ...
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- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- White Energy Company Limited
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
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