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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, 13 October 09
INDIA INTERESTED IN AMERICAN COAL
UPI reported that, Coal India Ltd. in its global expansion efforts is now interested in coal properties in the United States.
The Business Standard ...
Tuesday, 13 October 09
RIVERSDALE MAY USE ZAMBEZI RIVER TO TRANSPORT MOZAMBIQUE COAL
Mining Weekly reported that, ASX-listed coal-miner Riversdale Mining would submit a feasibility study and an environmental-impact study (EIS) for it ...
Monday, 12 October 09
INDONESIAN COAL MINER SAYS PLANS IPO IN 2010
Reuters reported that, Indonesian coal miner PT Bhakti Energi Persada plans an initial public offering in the first quarter of 2010 to develop coal ...
Monday, 12 October 09
BISICHI MINING FINALIZES COAL SUPPLY CONTRACT FOR 2010-2012
Small Cap News reported that, Bisichi, the South Africa based coal mining group, has agreed a three year coal supply contract between its principal ...
Monday, 12 October 09
SHANDUKA BUYS SACMH RICHARDS BAY COAL ALLOCATION
* Shanduka Coal takes SACMH 500,000T export space
* RBCT must approve any change of ownership
Reuters reported that, South Africa's Shanduka Co ...
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- Bhushan Steel Limited - India
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- Pendopo Energi Batubara - Indonesia
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- Madhucon Powers Ltd - India
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- White Energy Company Limited
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- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
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- Lanco Infratech Ltd - India
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- Billiton Holdings Pty Ltd - Australia
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- New Zealand Coal & Carbon
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- Baramulti Group, Indonesia
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- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
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- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
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- San Jose City I Power Corp, Philippines
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- SMC Global Power, Philippines
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- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
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- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
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- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
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- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
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- Medco Energi Mining Internasional
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- Thiess Contractors Indonesia
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- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
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- Central Electricity Authority - India
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- Globalindo Alam Lestari - Indonesia
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- Cigading International Bulk Terminal - Indonesia
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- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
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- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
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- CNBM International Corporation - China
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- IEA Clean Coal Centre - UK
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- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
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- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
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- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
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- Economic Council, Georgia
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- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
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- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
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- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Romanian Commodities Exchange
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