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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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Wednesday, 31 March 10
COAL INDIA MULLS JOINT VENTURE WITH RIO TINTO AND PEABODY - DNA
DNA reported that, Coal India Ltd. (CIL) has finalised two key contenders for its international joint venture (JV) in Australian and US each. The co ...
Wednesday, 31 March 10
DRY BULK MARKET STILL MODERATELY FALLING, BUT POSITIVE SIGNS APPEAR ON THE HORIZON - HELLENIC SHIPPING
The irregularities of the current dry bulk market have been more than evident in the fact that panamax vessels today earn more than their larger cap ...
Wednesday, 31 March 10
INDIKA ENERGYS PROFIT HIT BY FOREX LOSS AND CABOTAGE - THE JAKARTA GLOBE
The Jakarta Globe reportd that, PT Indika Energy posted a 30 percent drop in 2009 net profit due to a foreign exchange loss and impairment of intang ...
Wednesday, 31 March 10
ITMG TO UP COAL OUTPUT DESPITE PERMIT PROBLEMS - THE JAKARTA POST
The Jakarta Post reported that, the country’s third largest coal producer PT Indo Tambang Raya Megah (ITMG) said it can raise output although ...
Tuesday, 30 March 10
ANALYST SEES BDI LIFT, SUGGESTS DRY BULK SHORT SQUEEZE
Analysts at Credit Suisse are bullish on Diana and see a potential short squeeze elsewhere in the sector. The Baltic Dry Index (BDI) -- an industry ...
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- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- CNBM International Corporation - China
- The University of Queensland
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Planning Commission, India
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Australian Coal Association
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- PTC India Limited - India
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- VISA Power Limited - India
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
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