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Wednesday, 16 December 09
CHINA 2010 COAL TERM PRICES SEEN RISING 8% ON YEAR
Term prices of thermal coal for 2010 in China are expected to rise about 8 percent from this year's levels, as demand for power has been roaring back due to steady economic recovery, analysts and industry officials said.
But higher coal prices may bring a tough year for power plants, in the absence of power tariff hikes or pricing scheme reforms.
Six analysts surveyed by Reuters expect term prices for thermal coal, used in power generation, to rise between 5 and 20 percent from this year's levels, with consensus around 8 percent.
"I think an 8 to 10 percent rise would be reasonable, given the rapid climb in spot prices, as well as strong demand for coal and power," said Martin Wang, an analyst at Guotai Junan Securities in Hong Kong.
"Utilities, however, are facing a tough year. They might still be able to make a profit, after they've phased out the inefficient power generators. But the profit margin would vary from company to company."
Coal miners and power plants were in a stalemate over this year's term prices for months, before some power plants quietly accepted price hikes demanded by coal miners, as power consumption recovered and spot coal prices strengthened.
Spot thermal coal prices in Qinhuangdao, the country's top coal shipping port, rose nearly 30 percent from mid-September, when prices started to steadily climb.
Coal with calorific value of 5,500 kcal/kg (NAR) was quoted in the range of 730 yuan to 750 yuan ($106,9 - $109,9) a tonne, according to the Qinhuangdao Seaborne Coal Market.
The current price is about 37 percent higher than 540 yuan a tonne, the benchmark free-on-board term price offered by Shenhua, China's top coal producer.
Meanwhile, China's power generation in November rose 26,9 percent on the year, the fastest growth in nearly 4 years, as industrial activities continued to accelerate and cold weather spurred heating demand.
TOUGH YEAR AHEAD FOR UTILITIES
Power utilities, which just returned to profit this year due to lower coal prices, are again facing steep rises in production cost and coal miners with increasing negotiating power.
"There is an increasing monopoly in the coal industry, as the consolidation is pushing forward. But the power sector is still segmented," said an executive at a large power generating group.
China's five major power generating groups, including the parents of GD Power Development Co Ltd, China Power International, Datang International Power Generation Co Ltd, Huadian Power and Huaneng Power International, generate nearly half of national output.
"We can't do anything. If coal costs rise, we'll probably see sector-wise losses again," said the executive.
Beijing has cancelled the annual coal price negotiating conference and instead asked suppliers and users to complete deals within a month, while pledging to improve the power tariff pricing scheme and keep coal prices stable.
Source: Reuters / Mining weekly
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Friday, 28 May 10
CHINESE BAN TO HIT INDIAN IRON ORE EXPORTS
Nearly half of India's iron ore exports to China are in serious danger of being wiped out. The local government has imposed a ban on import of low ...
Friday, 28 May 10
INDIAS NEYVELI LIGNITE EYEING INDONESIA, SOUTH AFRICA COAL MINES
Integrated mining and power producer Neyveli Lignite Corporation Thursday said it is exploring possibilities for buying coal mines in Indonesia and ...
Friday, 28 May 10
ADARO ACQUIRES 25% ICP AT US$ 335 MIO
Indonesia's second largest thermal coal miner PT Adaro Energy Tbk (ADRO) today announces formation of new joint venture for Indonesian Coal Project ...
Thursday, 27 May 10
KPCL IS LOOKING FOR 0.50 MLN TON TO IMPORTED STEAMING COAL FOR RAICHUR THERMAL POWER STATION
COALspot.com: KARNATAKA POWER CORPORATION LIMITED, India invited from reputed parties meeting the pre qualifications stipulated for the import ...
Thursday, 27 May 10
TNPL TO BUY 0.240 MLN TON NON-COKING COAL FOR SECOND HALF OF 2010
COALspot.com: Tamil Nadu Newsprint and Papers Limited (TNPL), would like to procure 0.24 mln MT of imported Non-Coking Coal in 6 Shipments of about ...
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- Maheswari Brothers Coal Limited - India
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- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
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- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
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- GAC Shipping (India) Pvt Ltd
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- New Zealand Coal & Carbon
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- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
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- Sical Logistics Limited - India
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- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
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- Holcim Trading Pte Ltd - Singapore
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- Australian Commodity Traders Exchange
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- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
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- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
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- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
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- Dalmia Cement Bharat India
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- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
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- Siam City Cement PLC, Thailand
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- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
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- Parliament of New Zealand
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- Global Green Power PLC Corporation, Philippines
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- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
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- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- White Energy Company Limited
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- Siam City Cement - Thailand
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- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Australian Coal Association
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
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- Uttam Galva Steels Limited - India
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