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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, 12 February 10
TATA POWER: QUARTERLY BLIP
Although the company’s revenues dipped in the December quarter, its long-term story is intact.
Lower power generation and realisations saw ...
Thursday, 11 February 10
THE INDIAN MARKET SOFTENING A BIT - FEARNRESEARCH
Handy
The BSI has gone down for 3 weeks now but it is more a reflection of the Pac market. Activity in the Atl remains solid and rates remain firm ...
Thursday, 11 February 10
SOUTH AFRICA COAL EXPORTS DROP TO INDIA, CHINA
South African coal exports to India from Richards Bay Coal Terminal fell 39% in January from December's levels while shipments to China dropped 55% ...
Thursday, 11 February 10
JSW STEEL IS CLOSE TO ACQUIRING TWO COAL MINES IN THE US
“We are in advanced stages of negotiation and the deal will be completed in a month or two,” a company official told DNA Money on the co ...
Wednesday, 10 February 10
BHP TAKES MARUWAI SALE OFF THE TABLE, MINISTRY SAYS
Australian mining giant BHP Billiton may cancel a plan to sell a stake in its coal mining project in Maruwai, East Kalimantan, an official at the En ...
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- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Wilmar Investment Holdings
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
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