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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 - $109,9) a tonne, according to the Qinhuangdao Seaborne Coal Market.
The current price is about 37 percent higher than 540 yuan a tonne, the benchmark free-on-board term price offered by Shenhua, China's top coal producer.
Meanwhile, China's power generation in November rose 26,9 percent on the year, the fastest growth in nearly 4 years, as industrial activities continued to accelerate and cold weather spurred heating demand.
TOUGH YEAR AHEAD FOR UTILITIES
Power utilities, which just returned to profit this year due to lower coal prices, are again facing steep rises in production cost and coal miners with increasing negotiating power.
"There is an increasing monopoly in the coal industry, as the consolidation is pushing forward. But the power sector is still segmented," said an executive at a large power generating group.
China's five major power generating groups, including the parents of GD Power Development Co Ltd, China Power International, Datang International Power Generation Co Ltd, Huadian Power and Huaneng Power International, generate nearly half of national output.
"We can't do anything. If coal costs rise, we'll probably see sector-wise losses again," said the executive.
Beijing has cancelled the annual coal price negotiating conference and instead asked suppliers and users to complete deals within a month, while pledging to improve the power tariff pricing scheme and keep coal prices stable.
Source: Reuters / Mining weekly
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Sunday, 20 December 09
GLOBAL COAL MAJORS MAKE THEIR PRESENTATIONS
Major energy companies from four countries, including the U.S., Indonesia and South Africa, have completed detailed presentations before a committee ...
Saturday, 19 December 09
THE FUTURES FOR 2010 - 2012 FIRMED UP COMPARED TO LAST WEEK AND WAS AT AROUND CAPE US$ 28,000 PER DAY - VISTAAR
COALspot.com (Singapore): The freight market continued to soften this week with major drop in the cape size index by almost 21 pct and Panamax , Sup ...
Friday, 18 December 09
CARGOTEC WINS IBJ'S BEST SHIP LOADING / UNLOADING SYSTEM AWARD WITH SIWERTELL
Cargotec’s Siwertell ship unloader has recently won International Bulk Journal’s best ship loading/unloading system award for 2009; out ...
Friday, 18 December 09
THERMAL COAL PROJECT MOVES AHEAD
A proposal for Australia's largest thermal coal project in Queensland's central west has taken a step forward.
Hancock Prospecting is proposing ...
Friday, 18 December 09
CHURCHILL MINING COMPLETES FEASIBILITY STUDY FOR EAST KUTAI COAL PROJECT
Churchill Mining Plc has announced the completion of the feasibility study for its flagship project, the 75% held East Kutai coal project in Indones ...
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- Georgia Ports Authority, United States
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- Mercuria Energy - Indonesia
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- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
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- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
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- Xindia Steels Limited - India
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- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
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- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
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- European Bulk Services B.V. - Netherlands
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- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
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- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
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- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- White Energy Company Limited
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
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- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
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- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
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- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
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- Essar Steel Hazira Ltd - India
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
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- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
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- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
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- Commonwealth Bank - Australia
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
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