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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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Tuesday, 16 February 10
LAW POSES THREAT TO INDONESIA'S COAL INDUSTRY
A zoning law could cost coal miners billions of dollars this year alone, hurt investment in the industry and disrupt the supply of the fuel to the c ...
Tuesday, 16 February 10
KPMG PENS 6-POINT STRATEGY FOR COAL INDIA RESTRUCTURING
Coal India Ltd (CIL) has appointed KPMG Advisory Services Pvt Ltd to advise on consolidating its position as the country’s prime energy provid ...
Monday, 15 February 10
MINING LAW TO BE REVISED
Law No. 4 of 2009 on mineral and coal mining will be revised after a working visit of the Bangka Belitung (Babel) Provincial legislative assembly (D ...
Monday, 15 February 10
EURO COAL PRICES SOFTEN AS CHINESE LUNAR NEW YEAR HOLIDAYS START
Prices of prompt cargoes of coal for delivery into Europe weakened last week on a lack of European demand and market nerves over the possible impact ...
Monday, 15 February 10
INDONESIAN COAL SUFFERS SETBACK AS SUMATRA RAIL LINE HELD UP AGAIN
State-owned coal miner PT Tambang Batubara Bukit Asam’s $1.06 billion rail project in Sumatra faces more delays, and the cost of the project i ...
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- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- White Energy Company Limited
- Deloitte Consulting - India
- Sojitz Corporation - Japan
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