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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, 18 January 10
BHP TO SPEND $267 MILLION ON QUEENSLAND COKING COAL
BHP Billiton Ltd, the world’s largest mining company, will spend $267 million to accelerate development of the Caval Ridge mine and the Hay Po ...
Sunday, 17 January 10
THE FUTURES FOR THREE YEARS (2010 - 2012) FIRMED UP - VISTAAR SINGAPORE
COALspot.com (Singapore): The freight market was a bit mixed with BDI up by about 159 points and closed at 3,299 points.
BDI
The cape index cont ...
Sunday, 17 January 10
NTPC TO DOUBLE CAPACITY BY 2017
NTPC, which will launch its follow-on public offer on February 3, plans to more than double its generating capacity to over 70,000 mega watts by 201 ...
Saturday, 16 January 10
HANDY CONTINUED FIRM CONDITIONS FOR MARKET IN THE ATLANTIC
HANDY
Continued firm conditions for the Handymax / Smax market in the Atlantic with the BSI having a continued upwards momentum. US$ 45,000 ac ...
Friday, 15 January 10
INDONESIA COAL - HEAVY RAINS HAVE LITTLE IMPACT ON COAL OUTPUT
Coal shipments from Indonesia's main coal-producing area are unlikely to be hit by heavy rains during January-February as many miners are prepared ...
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- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
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