We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Wednesday, 13 January 21
CHINA THERMAL GENCO PROFITS FACE PRESSURE AMID POWER SHORTAGES - FITHCH WIRE
 High coal and gas prices will put near-term pressure on margins for thermal power generators in China, says Fitch Ratings. However, the power shortfalls seen recently in parts of the country are unlikely to drive large-scale shifts in investment plans, as the problems reflect weak peak-load flexibility rather than structural power shortages.
Total power consumption rose 9.4% yoy in November 2020, according to the China Electricity Council, and peak loads have reached record levels for many regional grids. Demand for power has been supported by robust economic growth, but also by unusually cold conditions that have bolstered demand for heating.
A variety of supply factors have also contributed to the power shortages. In areas such as Hunan, renewables contributions, particularly from hydropower, have been weak as a result of weather conditions. Regulatory pressures to curb thermal power carbon dioxide emissions in order to meet targets under the 13th Five Year Plan (ending in 2020) have also played a role in regions like Zhejiang.
Coal market dynamics have aggravated the situation. The government’s supply-side reform agenda has sought to improve the underlying stability of domestic coal markets by trimming excess supply, but in the near term this has reduced capacity to meet spikes in demand. Supplies have been dented further by tougher mining permit reviews and safety checks in Inner Mongolia, an important production region, and the impact of cold weather on transport systems and production in northern China.
Restrictions on imports of thermal coal from Australia may also have played a role at the margin. Such imports are small relative to total demand, and China has increased coal imports from other producers like Indonesia, but the curbs may have increased the vulnerability of local coal prices to demand spikes.
Meanwhile, in some provinces gas-fired power plants have failed to play their usual role in smoothing peak-load adjustments, as gas supplies were prioritised for heating in northern China. Gas-fired power’s contribution to generation has risen in January as additional gas has been sourced for heating, easing supply constraints.
There is no fuel-cost pass-through for coal. High energy prices will thus dampen near-term profitability among generating companies (gencos) with greater reliance on coal. This could affect Fitch-rated companies such as China Huaneng Group (A/Stable), China Huadian Corporation (A/Stable), State Power Investment Corporation (A/Stable), Guangdong Energy Group (A/Stable) and Zhejiang Provincial Energy (A/Stable). However, strong demand should raise capacity utilisation and reduce the price discount on market-traded power, offsetting the impact slightly.
Upstream producers such as Yanzhou Coal (BB-/Rating Watch Positive) and the three national oil companies should benefit from these same dynamics. However, we still expect coal prices to trend lower in the longer term, as the government remains committed to reducing coal’s share in the national energy mix.
The State Council stated on 8 January that development of natural gas and coal storage facilities, and emergency back-up power systems, would be accelerated. We have already budgeted high levels of capex for most power gencos in the medium term, focused mostly on renewable energy, and do not expect to change our forecasts significantly owing to the recent disruption. In addition, we do not expect substantial additional investment in LNG storage, but believe the government will accelerate approvals for new gas storage facilities and slow the phase-out of coal-fired power plants.
The government may also encourage provinces with power shortages to make greater use of imports, which could benefit issuers from surplus regions like Gansu Province Electric Power Investment (BBB-/Stable). Inter-provincial ultra-high-voltage distribution lines are available, but have been underutilised during the current situation as the supporting coal-fired power has not been available.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Wednesday, 27 January 21
MARKET INSIGHT - INTERMODAL
As we have entered the era off renewable energies, all industries globally give max effort to minimize their carbon footprint and consequently thei ...
Monday, 25 January 21
ULTRAMAX YET ANOTHER POSITIVE WEEK FOR THE SECTOR, WHICH SAW INCREASED DEMAND ACROSS ALL BASINS - BALTIC BRIEFING
Capesize
The Capesize market rocked and rolled these past few days. But by weeks end little had changed on the Capesize 5TC as it settled down ...
Monday, 25 January 21
NEW LAW IN CALIFORNIA, USA, AFFECTING SHIPOWNERS' LIABILITY FOR OIL POLLUTION - BIMCO
Members are advised that amendments to the so-called Lempert-Keene-Seastrand Oil Spill Prevention and Response Act of 1990 in the State of Californ ...
Monday, 25 January 21
COAL INDIA SAYS GEARED UP TO MEET SURGE IN FUEL DEMAND FROM POWER SECTOR - PTI
State-owned Coal India Ltd on Saturday said that it is well geared to meet any surge in demand for coal from the power sector.
The s ...
Sunday, 24 January 21
GOVT ASSURES COAL INDIA OF 'FULL SUPPORT', STRESSES ON LEARNING 'NEW THINGS' - PTI
Coal Minister Pralhad Joshi assured Coal India of full government support, even as he said the PSU needs to learn “new things” for impr ...
|
|
|
Showing 656 to 660 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- Ministry of Mines - Canada
- The University of Queensland
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Australian Coal Association
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Agrawal Coal Company - India
|
| |
| |
|
