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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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Saturday, 22 May 10
INDUSTRY QUESTIONS STEAM COAL PRICE ANOMALY
Five South Korean utilities have secured a deal for 3.13 million tonnes of Australian thermal coal with a calorific value of 6,080kcal/kg for delive ...
Wednesday, 19 May 10
DRY BULK FREIGHT RATES' RALLY MAY BE SET TO END
The Baltic Dry Index (BDI) has rallied these past couple of weeks, almost touching the 4,000 point mark. But this positive development for dry bulk ...
Wednesday, 19 May 10
NEWCASTLE WEEKLY EXPORTS RISE; SHIP QUEUE LENGTHENS
Coal shipments from Australia's Newcastle port, the world's biggest export harbor for the fuel used in power stations, rose 2.9 percent last week ...
Tuesday, 18 May 10
THE BDI HIT A FIVE-MONTH HIGH AT THE CLOSE OF LAST WEEK
According to BRS, One of the oldest ship broker, at 3,929 points, the BDI hit a five-month high at the close of last week. The Capesize four time ch ...
Tuesday, 18 May 10
COAL TRADER CHINA QINFA TO BUY TWO BULK CARRIERS FOR 69 MLN USD
China Qinfa Group, a leading non-State-owned coal trader on China's mainland, said Sunday it had signed shipbuilding contracts to pay 69 million U. ...
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- Ministry of Transport, Egypt
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- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
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- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
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- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
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- Asmin Koalindo Tuhup - Indonesia
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- Africa Commodities Group - South Africa
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- Simpson Spence & Young - Indonesia
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- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
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- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
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- Billiton Holdings Pty Ltd - Australia
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- Sindya Power Generating Company Private Ltd
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- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
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- Kaltim Prima Coal - Indonesia
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- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
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- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
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- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
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- Marubeni Corporation - India
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- Indogreen Group - Indonesia
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- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
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- Trasteel International SA, Italy
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- Minerals Council of Australia
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- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Interocean Group of Companies - India
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- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
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