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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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Monday, 15 February 10
MEC INFRA TO COMMISSION INDONESIA RAIL PROJECT
A joint venture between Ras Al Khaimah Investment Authority (Rakia) RAK Investment Authority and Minerals Energy and Commodities Holdings, a f ...
Monday, 15 February 10
INDONESIA IN TALKS TO RESOLVE BANPU MINE CLOSURE
Indonesia is seeking to resolve a land permiting problem resulting in the closure of a coal mine in Kalimantan operated by a unit of Thailand's top ...
Monday, 15 February 10
PVT ENTRY IN COAL MINING TO BE DELAYED
Entry of private players in coal mining will be delayed. Contrary to expectations, the coal ministry will not move in the Budget session a bill that ...
Sunday, 14 February 10
NEWCASTLE STEAM COAL TRADES AT US$ 91 TO US$ 92
Reuters reported that prompt cargo prices for coal delivered into Europe were largely unchanged recently after a day of subdued trading.
European ...
Saturday, 13 February 10
THE FREIGHT MARKET CONTINUED TO BE WEAK THIS WEEK - CAPT. REDDY
COALspot.com (Singapore): The freight market continued to be weak this week. There have been quite a few spot vessels open Far east and have been fo ...
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- GVK Power & Infra Limited - India
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- Coal and Oil Company - UAE
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- Larsen & Toubro Limited - India
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- Economic Council, Georgia
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- Star Paper Mills Limited - India
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- Samtan Co., Ltd - South Korea
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- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
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- SMC Global Power, Philippines
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- Antam Resourcindo - Indonesia
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- Malabar Cements Ltd - India
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- Tata Chemicals Ltd - India
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
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- Chamber of Mines of South Africa
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- OPG Power Generation Pvt Ltd - India
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- Asia Pacific Energy Resources Ventures Inc, Philippines
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- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
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- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
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- Krishnapatnam Port Company Ltd. - India
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- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Central Electricity Authority - India
- The University of Queensland
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- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
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- Miang Besar Coal Terminal - Indonesia
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- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
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- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
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