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<div class="text-center"><img class="tastimony-img img-circle" src="<?php echo $this->Html->url('/files/testimoni/foto/'.$testimoni[0]['Testimoni']['id'].'/small_'.$testimoni[0]['Testimoni']['foto'])?>" width="130" alt="" />
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Pengumuman Kurs Konversi Dividen Tunai Final Tahun Buku 2016.pdf', 'berkas_eng' => 'ADRO 20170509 - Pengumuman Kurs Konversi Dividen Tunai Final Tahun Buku 2016 - English.pdf', 'caption_image' => '', 'tag' => '["pengumuman","kurs","deviden"]', 'headline' => false, 'hit' => '192', 'agregasi' => false, 'published' => true, 'created' => '2017-05-10 09:15:12', 'modified' => '2017-05-10 09:15:12', 'title_eng' => 'Currency Conversion Rate Final Cash Dividend Payment 2016', 'sub_title_eng' => '', 'description_eng' => '', 'caption_image_eng' => '' ), 'Kanal' => array( 'id' => '1', 'title' => 'Announcements And Disclosures', 'description' => 'Announcements And Disclosures', 'published' => true, 'title_eng' => 'Announcements And Disclosures', 'description_eng' => 'Announcements And Disclosures' ), 'SubKanal' => array( 'id' => '3', 'kanal_id' => '1', 'title' => 'Keterbukaan Informasi ke Bursa Efek Indonesia', 'description' => 'Keterbukaan Informasi ke Bursa Efek Indonesia', 'published' => true, 'title_eng' => 'Disclosures to Indonesia Stock Exchange (IDX)', 'description_eng' => 'Disclosures to Indonesia Stock Exchange (IDX)' ) ), (int) 1 => array( 'News' => array( 'id' => '1228', 'kanal_id' => '1', 'sub_kanal_id' => '1', 'user_id' => '1', 'title' => 'Ringkasan Risalah RUPS - 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1Q17 FPR and QAR - Bahasa.pdf', 'berkas_eng' => 'ADRO 20170427 - 1Q17 FPR and QAR - English.pdf', 'caption_image' => '', 'tag' => '["1Q16"]', 'headline' => false, 'hit' => '335', 'agregasi' => false, 'published' => true, 'created' => '2017-04-28 00:17:49', 'modified' => '2017-04-28 00:27:23', 'title_eng' => '1Q17 Financial Press Release', 'sub_title_eng' => '', 'description_eng' => '', 'caption_image_eng' => '' ), 'Kanal' => array( 'id' => '1', 'title' => 'Announcements And Disclosures', 'description' => 'Announcements And Disclosures', 'published' => true, 'title_eng' => 'Announcements And Disclosures', 'description_eng' => 'Announcements And Disclosures' ), 'SubKanal' => array( 'id' => '4', 'kanal_id' => '1', 'title' => 'Laporan Keuangan dan Catatan', 'description' => 'Laporan Keuangan dan Catatan', 'published' => true, 'title_eng' => 'Financial News Releases', 'description_eng' => 'Financial News Releases' ) ) ) $community = array( (int) 0 => array( 'News' => array( 'id' => '1255', 'kanal_id' => '2', 'sub_kanal_id' => '7', 'user_id' => '5', 'title' => 'Shenhua, China Guodian Said to Mull $267 Billion Power Giant', 'sub_title' => '', 'tgl_post' => '2017-06-04 19:40:00', 'author' => '', 'description' => '<p><a href="https://www.bloomberg.com/quote/SHGCLZ:CH" itemprop="StoryLink" itemscope="itemscope" title="Company Overview">Shenhua Group Corp.</a>, China’s biggest coal miner, and <a href="https://www.bloomberg.com/quote/CNEPGZ:CH" itemprop="StoryLink" itemscope="itemscope" title="Company Overview">China Guodian Corp.</a>, one of the nation’s largest coal-fired power generators, are in merger discussions, according to people with knowledge of the matter.</p> <p>The talks are preliminary and the merger may not go ahead, said the people, who asked not to be identified as the information isn’t public. The Hong Kong-listed units of the state-owned giants, which jumped Monday, said Sunday they were notified by their parent companies of “significant” matters, while subsidiaries in Shanghai <a href="https://www.bloomberg.com/news/terminal/OR0LWJ6JTSE8" itemprop="StoryLink" itemscope="itemscope" rel="nofollow noopener" target="_blank" title="China Shenhua, GD Power to Be Halted From Shanghai Trading (1)">requested</a>trading halts. Neither parent, which have combined assets of almost 1.82 trillion yuan ($267 billion), responded to requests for comment.</p> <p>A Shenhua-Guodian tie-up is the latest proposed combination in China’s power industry and differs from an earlier plan, <a href="https://www.bloomberg.com/news/articles/2017-05-08/china-said-to-mull-3-mega-power-firms-in-855-billion-reshuffle" itemprop="StoryLink" itemscope="itemscope" target="_blank" title="China’s Coal-Power Firms Surge as Mega-Merger Said Planned (3)">reported</a> by Bloomberg last month, that would have created three energy giants through mergers of eight companies. The power industry has been <a href="https://www.bloomberg.com/news/terminal/OR1PN46JTSE8" itemprop="StoryLink" itemscope="itemscope" rel="nofollow noopener" target="_blank" title="China to Keep Focus on Coal Power, Steel in SOE Reform: Daily">targeted</a> for restructuring as President Xi Jinping tries to cut industrial overcapacity, the number of state-owned enterprises and the country’s reliance on coal, as his government seeks to rebalance the $11 trillion economy toward more consumer spending.</p> <p>“The central government has determined to reform and shrink the number of major power generators as it doesn’t want to see continued expansion of coal-fired power capacity,” said Laban Yu, head of Asia oil and gas equity research at Jefferies Group LLC in Hong Kong. “Shenhua matches well with almost anybody as their high-quality coal assets could immediately help every coal-fired generator’s bottom line.”</p> <p>Regulators had considered merging Shenhua with <a href="https://www.bloomberg.com/quote/CHDACZ:CH" itemprop="StoryLink" itemscope="itemscope" title="Company Overview">China Datang Corp.</a> and <a href="https://www.bloomberg.com/quote/CGNPCZ:CH" itemprop="StoryLink" itemscope="itemscope" title="Company Overview">China General Nuclear Power Corp.</a> That proposal -- to create three power giants out of eight coal-fired and nuclear generators with combined assets of almost 5.9 trillion yuan -- pitched Guodian together with <a href="https://www.bloomberg.com/quote/HUADIZ:CH" itemprop="StoryLink" itemscope="itemscope" title="Company Overview">China Huadian Corp.</a> and <a href="https://www.bloomberg.com/quote/CNNZ:CH" itemprop="StoryLink" itemscope="itemscope" title="Company Overview">China National Nuclear Corp.</a></p> <h3>Deepen Consolidation</h3> <p>The State-owned Assets Supervision and Administration Commission didn’t respond to a faxed request for comment Sunday. Sasac’s Chairman Xiao Yaqing said in March that the country will deepen consolidation of state-owned enterprises this year</p> <p>Shenhua had 1.014 trillion yuan in <a href="https://www.bloomberg.com/news/terminal/OQV7N66TTDSU" itemprop="StoryLink" itemscope="itemscope" rel="nofollow noopener" target="_blank" title="Shenhua Group’s Total Assets Exceed 1 Trillion Yuan at End April">assets</a> and total power generating capacity of about 83 gigawatts at the end of April, it said in a <a href="https://mp.weixin.qq.com/s/hj5xSKUaP6Q1pORXLIOz8g" itemprop="StoryLink" itemscope="itemscope" rel="nofollow noopener" target="_blank" title="Shenhua report">report</a> last week. The company produced about 290 million tons of coal <a href="https://www.bloomberg.com/news/terminal/ON1X5Q6K50XS" itemprop="StoryLink" itemscope="itemscope" rel="nofollow noopener" target="_blank" title="Shenhua Profit Rises 1st Time in 4 Years on Coal Price Surge (1)">last year</a>. Guodian at the end of 2016 had total assets of 803 billion yuan and 143 gigawatts of power-generating capacity, according to a <a href="http://www.cec.org.cn/yaowenkuaidi/2017-01-17/163848.html" itemprop="StoryLink" itemscope="itemscope" rel="nofollow noopener" target="_blank" title="CEC Website">statement</a> from the company posted by state-backed industry group China Electricity Council.</p> <p><a href="https://www.bloomberg.com/quote/1088:HK" itemprop="StoryLink" itemscope="itemscope" target="_blank" title="Year-to-Date Change">China Shenhua Energy Co. </a>said in a <a href="http://www.hkexnews.hk/listedco/listconews/SEHK/2017/0604/LTN20170604019.pdf" itemprop="StoryLink" itemscope="itemscope" rel="nofollow noopener" target="_blank" title="INSIDE INFORMATION ANNOUNCEMENT">filing</a> to the Hong Kong stock exchange Sunday that it was notified June 2 by its parent company of a significant matter that “contains substantial uncertainty which is subject to the approval of the relevant authorities.” Guodian’s Hong Kong-listed <a href="http://www.hkexnews.hk/listedco/listconews/SEHK/2017/0604/LTN20170604019.pdf" itemprop="StoryLink" itemscope="itemscope" rel="nofollow noopener" target="_blank" title="INSIDE INFORMATION ANNOUNCEMENT">China Longyuan Power Group Corp. </a>and <a href="https://www.bloomberg.com/quote/1296:HK" itemprop="StoryLink" itemscope="itemscope" target="_blank" title="Hong Kong-traded shares">Guodian Technology & Environment Group Corp.</a> issued similar statements Sunday.</p> <p>China Shenhua Energy’s <a href="https://www.bloomberg.com/quote/1088:HK" itemprop="StoryLink" itemscope="itemscope" target="_blank" title="Shenhua in HK">Hong Kong-listed</a> shares rose as much as 6.8 percent to HK$20.45 before paring gains to close up 2.7 percent at HK$19.66. China Longyuan ended up 2.6 percent, while Guodian Technology closed 17 percent higher. <a href="https://www.bloomberg.com/quote/991:HK" itemprop="StoryLink" itemscope="itemscope" target="_blank" title="Intraday Share Price">Datang International Power Generation Co.</a>, the listed unit of China Datang Corp., fell 5.1 percent. The city’s benchmark Hang Seng Index lost 0.2 percent.</p> <p><a href="https://www.bloomberg.com/news/articles/2017-06-04/china-s-shenhua-group-china-guodian-said-to-consider-merger-j3ipided">https://www.bloomberg.com/news/articles/2017-06-04/china-s-shenhua-group-china-guodian-said-to-consider-merger-j3ipided</a></p> ', 'image' => '', 'gambar' => '', 'berkas' => '', 'berkas_eng' => '', 'caption_image' => '', 'tag' => '', 'headline' => false, 'hit' => '293', 'agregasi' => false, 'published' => true, 'created' => '2017-06-06 19:41:53', 'modified' => '2017-06-06 19:41:53', 'title_eng' => 'Shenhua, China Guodian Said to Mull $267 Billion Power Giant', 'sub_title_eng' => '', 'description_eng' => '<p><a href="https://www.bloomberg.com/quote/SHGCLZ:CH" itemprop="StoryLink" itemscope="itemscope" title="Company Overview">Shenhua Group Corp.</a>, China’s biggest coal miner, and <a href="https://www.bloomberg.com/quote/CNEPGZ:CH" itemprop="StoryLink" itemscope="itemscope" title="Company Overview">China Guodian Corp.</a>, one of the nation’s largest coal-fired power generators, are in merger discussions, according to people with knowledge of the matter.</p> <p>The talks are preliminary and the merger may not go ahead, said the people, who asked not to be identified as the information isn’t public. The Hong Kong-listed units of the state-owned giants, which jumped Monday, said Sunday they were notified by their parent companies of “significant” matters, while subsidiaries in Shanghai <a href="https://www.bloomberg.com/news/terminal/OR0LWJ6JTSE8" itemprop="StoryLink" itemscope="itemscope" rel="nofollow noopener" target="_blank" title="China Shenhua, GD Power to Be Halted From Shanghai Trading (1)">requested</a>trading halts. Neither parent, which have combined assets of almost 1.82 trillion yuan ($267 billion), responded to requests for comment.</p> <p>A Shenhua-Guodian tie-up is the latest proposed combination in China’s power industry and differs from an earlier plan, <a href="https://www.bloomberg.com/news/articles/2017-05-08/china-said-to-mull-3-mega-power-firms-in-855-billion-reshuffle" itemprop="StoryLink" itemscope="itemscope" target="_blank" title="China’s Coal-Power Firms Surge as Mega-Merger Said Planned (3)">reported</a> by Bloomberg last month, that would have created three energy giants through mergers of eight companies. The power industry has been <a href="https://www.bloomberg.com/news/terminal/OR1PN46JTSE8" itemprop="StoryLink" itemscope="itemscope" rel="nofollow noopener" target="_blank" title="China to Keep Focus on Coal Power, Steel in SOE Reform: Daily">targeted</a> for restructuring as President Xi Jinping tries to cut industrial overcapacity, the number of state-owned enterprises and the country’s reliance on coal, as his government seeks to rebalance the $11 trillion economy toward more consumer spending.</p> <p>“The central government has determined to reform and shrink the number of major power generators as it doesn’t want to see continued expansion of coal-fired power capacity,” said Laban Yu, head of Asia oil and gas equity research at Jefferies Group LLC in Hong Kong. “Shenhua matches well with almost anybody as their high-quality coal assets could immediately help every coal-fired generator’s bottom line.”</p> <p>Regulators had considered merging Shenhua with <a href="https://www.bloomberg.com/quote/CHDACZ:CH" itemprop="StoryLink" itemscope="itemscope" title="Company Overview">China Datang Corp.</a> and <a href="https://www.bloomberg.com/quote/CGNPCZ:CH" itemprop="StoryLink" itemscope="itemscope" title="Company Overview">China General Nuclear Power Corp.</a> That proposal -- to create three power giants out of eight coal-fired and nuclear generators with combined assets of almost 5.9 trillion yuan -- pitched Guodian together with <a href="https://www.bloomberg.com/quote/HUADIZ:CH" itemprop="StoryLink" itemscope="itemscope" title="Company Overview">China Huadian Corp.</a> and <a href="https://www.bloomberg.com/quote/CNNZ:CH" itemprop="StoryLink" itemscope="itemscope" title="Company Overview">China National Nuclear Corp.</a></p> <h3>Deepen Consolidation</h3> <p>The State-owned Assets Supervision and Administration Commission didn’t respond to a faxed request for comment Sunday. Sasac’s Chairman Xiao Yaqing said in March that the country will deepen consolidation of state-owned enterprises this year</p> <p>Shenhua had 1.014 trillion yuan in <a href="https://www.bloomberg.com/news/terminal/OQV7N66TTDSU" itemprop="StoryLink" itemscope="itemscope" rel="nofollow noopener" target="_blank" title="Shenhua Group’s Total Assets Exceed 1 Trillion Yuan at End April">assets</a> and total power generating capacity of about 83 gigawatts at the end of April, it said in a <a href="https://mp.weixin.qq.com/s/hj5xSKUaP6Q1pORXLIOz8g" itemprop="StoryLink" itemscope="itemscope" rel="nofollow noopener" target="_blank" title="Shenhua report">report</a> last week. The company produced about 290 million tons of coal <a href="https://www.bloomberg.com/news/terminal/ON1X5Q6K50XS" itemprop="StoryLink" itemscope="itemscope" rel="nofollow noopener" target="_blank" title="Shenhua Profit Rises 1st Time in 4 Years on Coal Price Surge (1)">last year</a>. Guodian at the end of 2016 had total assets of 803 billion yuan and 143 gigawatts of power-generating capacity, according to a <a href="http://www.cec.org.cn/yaowenkuaidi/2017-01-17/163848.html" itemprop="StoryLink" itemscope="itemscope" rel="nofollow noopener" target="_blank" title="CEC Website">statement</a> from the company posted by state-backed industry group China Electricity Council.</p> <p><a href="https://www.bloomberg.com/quote/1088:HK" itemprop="StoryLink" itemscope="itemscope" target="_blank" title="Year-to-Date Change">China Shenhua Energy Co. </a>said in a <a href="http://www.hkexnews.hk/listedco/listconews/SEHK/2017/0604/LTN20170604019.pdf" itemprop="StoryLink" itemscope="itemscope" rel="nofollow noopener" target="_blank" title="INSIDE INFORMATION ANNOUNCEMENT">filing</a> to the Hong Kong stock exchange Sunday that it was notified June 2 by its parent company of a significant matter that “contains substantial uncertainty which is subject to the approval of the relevant authorities.” Guodian’s Hong Kong-listed <a href="http://www.hkexnews.hk/listedco/listconews/SEHK/2017/0604/LTN20170604019.pdf" itemprop="StoryLink" itemscope="itemscope" rel="nofollow noopener" target="_blank" title="INSIDE INFORMATION ANNOUNCEMENT">China Longyuan Power Group Corp. </a>and <a href="https://www.bloomberg.com/quote/1296:HK" itemprop="StoryLink" itemscope="itemscope" target="_blank" title="Hong Kong-traded shares">Guodian Technology & Environment Group Corp.</a> issued similar statements Sunday.</p> <p>China Shenhua Energy’s <a href="https://www.bloomberg.com/quote/1088:HK" itemprop="StoryLink" itemscope="itemscope" target="_blank" title="Shenhua in HK">Hong Kong-listed</a> shares rose as much as 6.8 percent to HK$20.45 before paring gains to close up 2.7 percent at HK$19.66. China Longyuan ended up 2.6 percent, while Guodian Technology closed 17 percent higher. <a href="https://www.bloomberg.com/quote/991:HK" itemprop="StoryLink" itemscope="itemscope" target="_blank" title="Intraday Share Price">Datang International Power Generation Co.</a>, the listed unit of China Datang Corp., fell 5.1 percent. The city’s benchmark Hang Seng Index lost 0.2 percent.</p> <p><a href="https://www.bloomberg.com/news/articles/2017-06-04/china-s-shenhua-group-china-guodian-said-to-consider-merger-j3ipided">https://www.bloomberg.com/news/articles/2017-06-04/china-s-shenhua-group-china-guodian-said-to-consider-merger-j3ipided</a></p> ', 'caption_image_eng' => '' ), 'Kanal' => array( 'id' => '2', 'title' => 'News & Blog', 'description' => 'News & Blog', 'published' => true, 'title_eng' => 'News & Blog', 'description_eng' => 'News & Blog' ), 'SubKanal' => array( 'id' => '7', 'kanal_id' => '2', 'title' => 'Blog Adaro', 'description' => 'Blog Adaro', 'published' => true, 'title_eng' => 'The Adaro Blog', 'description_eng' => 'The Adaro Blog' ) ), (int) 1 => array( 'News' => array( 'id' => '1254', 'kanal_id' => '2', 'sub_kanal_id' => '7', 'user_id' => '5', 'title' => 'Coal's Future in India', 'sub_title' => '', 'tgl_post' => '2017-06-02 19:36:00', 'author' => '', 'description' => '<p>The Indian trading house Adani Resources Ltd. has just reached an agreement with the Queensland government on royalty payments for the <a data-web-url="http://www.adaniaustralia.com/businesses/carmichael-coal-mine-and-rail-project" href="http://www.adaniaustralia.com/businesses/carmichael-coal-mine-and-rail-project" rel="nofollow noopener" target="_blank">Carmichael coal mine</a>, which the company is considering building in northeastern Australia. As one of the largest thermal coal mines in the world, it would exert a country-sized impact on global carbon emissions during its 60-year life. As the company decides whether to go ahead, it will need to keep in mind three relevant energy trends.</p> <p>First, Australian coal remains cheaper than natural gas – but not hugely so. Since 2011, coal has been as high as $5.38 per million British thermal units and gas as high as $13.96/MMBtu. However, since 2014, gas has fallen below coal’s peak prices. Thanks to <a href="https://www.bloomberg.com/news/terminal/OOQA1O6S9728" rel="nofollow noopener" target="_blank">U.S. exports</a>, the world may soon be flooded with natural gas, and that means gas prices aren’t likely to be spiking upward.</p> <figure align="center" data-align="center" data-chart-type="line" data-id="314090765" data-image-type="chart" data-thumbnail="https://assets.bwbx.io/images/users/iqjWHBFdfxIU/idWMG5O8SgWc/v1/460x260.png" data-type="image"> <h3>Asian Gas Plunges, But Coal Is Still Cheaper</h3> <p> </p> <p>Second, in the past year, the cost of solar generation in India has fallen by more than half. The country’s competitive auctions for solar power have pushed prices below 2.5 rupees ($0.04) per kilowatt-hour. While much experience with energy auctions has taught Bloomberg New Energy Finance to be skeptical of ultra-low bids, the trend is important. Solar is cheap and getting cheaper, and at a certain point it becomes hard to turn down as a marginal unit of new power generation.</p> <figure align="center" data-align="center" data-chart-type="line" data-id="314094338" data-image-type="chart" data-thumbnail="https://assets.bwbx.io/images/users/iqjWHBFdfxIU/i8JYTBimGCuw/v1/460x260.png" data-type="image"> <h3>Down by Half</h3> <p> </p> <p>The third trend has to do with the broader energy market in India. Solar at 4 cents undercuts the cost of other major generation sources. By BNEF’s calculations of the so-called levelized cost of energy <a href="https://www.bloomberg.com/view/articles/2017-06-02/coal-s-future-in-india#footnote-1496350575632">1</a> , solar has become significantly cheaper than new gas and coal-fired power. (Oh, and wind is also slightly cheaper than coal.)</p> <figure align="center" data-align="center" data-chart-type="bar" data-id="314094445" data-image-type="chart" data-thumbnail="https://assets.bwbx.io/images/users/iqjWHBFdfxIU/ibgsc.5bFSDM/v1/460x260.png" data-type="image"> <h3>Solar Prices Lowest</h3> <p> </p> <p>As my colleagues say in a <a href="https://www.bloomberg.com/news/terminal/OQ3QDM6TTDS2" rel="nofollow noopener" target="_blank">research note</a>, “Cheap and plentiful PV could lead to a strategic rethink on how India meets its future demand for electricity.” And analysts aren’t the only ones who think so. <a href="https://www.bloomberg.com/news/articles/2017-06-01/cheaper-solar-in-india-prompts-rethink-for-more-coal-projects" target="_blank">Indian power market players</a> also say that solar’s cost trend may limit the expansion of conventional power generation.</p> <p>To be sure, coal-fired power is in India to stay. It will probably even increase in absolute terms as electrification expands with the economy. At the same time, India’s domestic coal production is increasing, pushing its prices down about 10 percent lower than those of Australian imports. This differential might not be an issue for Adani Enterprises, which intends to export only to its own power projects on the coasts, where imports are still cheaper than domestic supply. But new infrastructure connecting inland Indian mines to the coasts could change that math during the lifetime of the Carmichael mine.</p> <p>Imported coal today faces cost competition from natural gas, renewables and domestically mined coal. It’s a dynamic market that presents challenges for the Adani board as it decides whether to invest in a 60-year asset.</p> <p>Weekend reads</p> <ul> <li>The two largest coal-fired power plants in New Jersey <a data-web-url="http://www.philly.com/philly/business/energy/pseg-shuts-down-its-last-n-j-coal-plants-its-just-economics-20170530.html" href="http://www.philly.com/philly/business/energy/pseg-shuts-down-its-last-n-j-coal-plants-its-just-economics-20170530.html" rel="nofollow noopener" target="_blank">shut down for good</a> June 1.</li> <li>The <a data-web-url="http://www.heraldnews.com/news/20170530/brayton-point-powers-down" href="http://www.heraldnews.com/news/20170530/brayton-point-powers-down" rel="nofollow noopener" target="_blank">last coal plant in Massachusetts</a> closed May 31 – and with it, <a data-web-url="https://www.eenews.net/stories/1060055243" href="https://www.eenews.net/stories/1060055243" rel="nofollow noopener" target="_blank">coal has disappeared from New England</a>.</li> <li>Gadfly’s David Fickling on an Exxon Mobil shareholder vote that shows how <a href="https://www.bloomberg.com/gadfly/articles/2017-06-01/funds-fire-up-real-climate-change" target="_blank">funds fire up real climate change</a>.</li> <li>Colorado’s utility regulators will require the state’s largest power company to <a data-web-url="http://www.denverpost.com/2017/05/28/colorado-utility-regulators-carbon-emission-xcel-energy/" href="http://www.denverpost.com/2017/05/28/colorado-utility-regulators-carbon-emission-xcel-energy/" rel="nofollow noopener" target="_blank">price the effects</a> of its carbon emissions.</li> <li>U.S. insurance and re-insurance <a data-web-url="http://www.artemis.bm/blog/2017/05/31/u-s-convective-storm-reinsurance-losses-hit-11bn-in-2017-ytd/" href="http://www.artemis.bm/blog/2017/05/31/u-s-convective-storm-reinsurance-losses-hit-11bn-in-2017-ytd/" rel="nofollow noopener" target="_blank">losses from severe storms have passed $10 billion</a>for the 10th consecutive year … and it’s only May.</li> <li>Mary Meeker of the venture capital firm Kleiner Perkins is out with her <a data-web-url="http://www.kpcb.com/internet-trends" href="http://www.kpcb.com/internet-trends" rel="nofollow noopener" target="_blank">latest Internet Trends report</a>, all 355 slides of it.</li> <li>A survey of artificial-intelligence researchers shows that most <a data-web-url="https://www.technologyreview.com/s/607970/experts-predict-when-artificial-intelligence-will-exceed-human-performance/" href="https://www.technologyreview.com/s/607970/experts-predict-when-artificial-intelligence-will-exceed-human-performance/" rel="nofollow noopener" target="_blank">expect machines to exceed humans in about 45 years</a> – coincidentally, about the length of a working life.</li> <li>Economist Brad DeLong says that “the <a data-web-url="http://equitablegrowth.org/equitablog/delong-the-future-of-work-automation-and-labor-inclusive-ai-technology-and-policy-for-a-diverse-human-future/" href="http://equitablegrowth.org/equitablog/delong-the-future-of-work-automation-and-labor-inclusive-ai-technology-and-policy-for-a-diverse-human-future/" rel="nofollow noopener" target="_blank">combination of coming AI with a market economy</a> will be absolute poison for equity and equitable growth.”</li> <li>Venture capitalist Marc Andreessen says that self-driving cars will <a data-web-url="https://www.recode.net/2017/5/30/15693382/marc-andreessen-automation-jobs-code-2017" href="https://www.recode.net/2017/5/30/15693382/marc-andreessen-automation-jobs-code-2017" rel="nofollow noopener" target="_blank">create many more jobs than they eliminate</a>.</li> </ul> <p style="text-align: justify;"><a href="https://www.bloomberg.com/view/articles/2017-06-02/coal-s-future-in-india">https://www.bloomberg.com/view/articles/2017-06-02/coal-s-future-in-india</a></p> </figure> </figure> </figure> ', 'image' => '', 'gambar' => '', 'berkas' => '', 'berkas_eng' => '', 'caption_image' => '', 'tag' => '', 'headline' => false, 'hit' => '323', 'agregasi' => false, 'published' => true, 'created' => '2017-06-06 19:40:11', 'modified' => '2017-06-06 19:40:11', 'title_eng' => 'Coal's Future in India', 'sub_title_eng' => '', 'description_eng' => '<p>The Indian trading house Adani Resources Ltd. has just reached an agreement with the Queensland government on royalty payments for the <a data-web-url="http://www.adaniaustralia.com/businesses/carmichael-coal-mine-and-rail-project" href="http://www.adaniaustralia.com/businesses/carmichael-coal-mine-and-rail-project" rel="nofollow noopener" target="_blank">Carmichael coal mine</a>, which the company is considering building in northeastern Australia. As one of the largest thermal coal mines in the world, it would exert a country-sized impact on global carbon emissions during its 60-year life. As the company decides whether to go ahead, it will need to keep in mind three relevant energy trends.</p> <p>First, Australian coal remains cheaper than natural gas – but not hugely so. Since 2011, coal has been as high as $5.38 per million British thermal units and gas as high as $13.96/MMBtu. However, since 2014, gas has fallen below coal’s peak prices. Thanks to <a href="https://www.bloomberg.com/news/terminal/OOQA1O6S9728" rel="nofollow noopener" target="_blank">U.S. exports</a>, the world may soon be flooded with natural gas, and that means gas prices aren’t likely to be spiking upward.</p> <figure align="center" data-align="center" data-chart-type="line" data-id="314090765" data-image-type="chart" data-thumbnail="https://assets.bwbx.io/images/users/iqjWHBFdfxIU/idWMG5O8SgWc/v1/460x260.png" data-type="image"> <h3>Asian Gas Plunges, But Coal Is Still Cheaper</h3> <p> </p> <p>Second, in the past year, the cost of solar generation in India has fallen by more than half. The country’s competitive auctions for solar power have pushed prices below 2.5 rupees ($0.04) per kilowatt-hour. While much experience with energy auctions has taught Bloomberg New Energy Finance to be skeptical of ultra-low bids, the trend is important. Solar is cheap and getting cheaper, and at a certain point it becomes hard to turn down as a marginal unit of new power generation.</p> <figure align="center" data-align="center" data-chart-type="line" data-id="314094338" data-image-type="chart" data-thumbnail="https://assets.bwbx.io/images/users/iqjWHBFdfxIU/i8JYTBimGCuw/v1/460x260.png" data-type="image"> <h3>Down by Half</h3> <p> </p> <p>The third trend has to do with the broader energy market in India. Solar at 4 cents undercuts the cost of other major generation sources. By BNEF’s calculations of the so-called levelized cost of energy <a href="https://www.bloomberg.com/view/articles/2017-06-02/coal-s-future-in-india#footnote-1496350575632">1</a> , solar has become significantly cheaper than new gas and coal-fired power. (Oh, and wind is also slightly cheaper than coal.)</p> <figure align="center" data-align="center" data-chart-type="bar" data-id="314094445" data-image-type="chart" data-thumbnail="https://assets.bwbx.io/images/users/iqjWHBFdfxIU/ibgsc.5bFSDM/v1/460x260.png" data-type="image"> <h3>Solar Prices Lowest</h3> <p> </p> <p>As my colleagues say in a <a href="https://www.bloomberg.com/news/terminal/OQ3QDM6TTDS2" rel="nofollow noopener" target="_blank">research note</a>, “Cheap and plentiful PV could lead to a strategic rethink on how India meets its future demand for electricity.” And analysts aren’t the only ones who think so. <a href="https://www.bloomberg.com/news/articles/2017-06-01/cheaper-solar-in-india-prompts-rethink-for-more-coal-projects" target="_blank">Indian power market players</a> also say that solar’s cost trend may limit the expansion of conventional power generation.</p> <p>To be sure, coal-fired power is in India to stay. It will probably even increase in absolute terms as electrification expands with the economy. At the same time, India’s domestic coal production is increasing, pushing its prices down about 10 percent lower than those of Australian imports. This differential might not be an issue for Adani Enterprises, which intends to export only to its own power projects on the coasts, where imports are still cheaper than domestic supply. But new infrastructure connecting inland Indian mines to the coasts could change that math during the lifetime of the Carmichael mine.</p> <p>Imported coal today faces cost competition from natural gas, renewables and domestically mined coal. It’s a dynamic market that presents challenges for the Adani board as it decides whether to invest in a 60-year asset.</p> <p>Weekend reads</p> <ul> <li>The two largest coal-fired power plants in New Jersey <a data-web-url="http://www.philly.com/philly/business/energy/pseg-shuts-down-its-last-n-j-coal-plants-its-just-economics-20170530.html" href="http://www.philly.com/philly/business/energy/pseg-shuts-down-its-last-n-j-coal-plants-its-just-economics-20170530.html" rel="nofollow noopener" target="_blank">shut down for good</a> June 1.</li> <li>The <a data-web-url="http://www.heraldnews.com/news/20170530/brayton-point-powers-down" href="http://www.heraldnews.com/news/20170530/brayton-point-powers-down" rel="nofollow noopener" target="_blank">last coal plant in Massachusetts</a> closed May 31 – and with it, <a data-web-url="https://www.eenews.net/stories/1060055243" href="https://www.eenews.net/stories/1060055243" rel="nofollow noopener" target="_blank">coal has disappeared from New England</a>.</li> <li>Gadfly’s David Fickling on an Exxon Mobil shareholder vote that shows how <a href="https://www.bloomberg.com/gadfly/articles/2017-06-01/funds-fire-up-real-climate-change" target="_blank">funds fire up real climate change</a>.</li> <li>Colorado’s utility regulators will require the state’s largest power company to <a data-web-url="http://www.denverpost.com/2017/05/28/colorado-utility-regulators-carbon-emission-xcel-energy/" href="http://www.denverpost.com/2017/05/28/colorado-utility-regulators-carbon-emission-xcel-energy/" rel="nofollow noopener" target="_blank">price the effects</a> of its carbon emissions.</li> <li>U.S. insurance and re-insurance <a data-web-url="http://www.artemis.bm/blog/2017/05/31/u-s-convective-storm-reinsurance-losses-hit-11bn-in-2017-ytd/" href="http://www.artemis.bm/blog/2017/05/31/u-s-convective-storm-reinsurance-losses-hit-11bn-in-2017-ytd/" rel="nofollow noopener" target="_blank">losses from severe storms have passed $10 billion</a>for the 10th consecutive year … and it’s only May.</li> <li>Mary Meeker of the venture capital firm Kleiner Perkins is out with her <a data-web-url="http://www.kpcb.com/internet-trends" href="http://www.kpcb.com/internet-trends" rel="nofollow noopener" target="_blank">latest Internet Trends report</a>, all 355 slides of it.</li> <li>A survey of artificial-intelligence researchers shows that most <a data-web-url="https://www.technologyreview.com/s/607970/experts-predict-when-artificial-intelligence-will-exceed-human-performance/" href="https://www.technologyreview.com/s/607970/experts-predict-when-artificial-intelligence-will-exceed-human-performance/" rel="nofollow noopener" target="_blank">expect machines to exceed humans in about 45 years</a> – coincidentally, about the length of a working life.</li> <li>Economist Brad DeLong says that “the <a data-web-url="http://equitablegrowth.org/equitablog/delong-the-future-of-work-automation-and-labor-inclusive-ai-technology-and-policy-for-a-diverse-human-future/" href="http://equitablegrowth.org/equitablog/delong-the-future-of-work-automation-and-labor-inclusive-ai-technology-and-policy-for-a-diverse-human-future/" rel="nofollow noopener" target="_blank">combination of coming AI with a market economy</a> will be absolute poison for equity and equitable growth.”</li> <li>Venture capitalist Marc Andreessen says that self-driving cars will <a data-web-url="https://www.recode.net/2017/5/30/15693382/marc-andreessen-automation-jobs-code-2017" href="https://www.recode.net/2017/5/30/15693382/marc-andreessen-automation-jobs-code-2017" rel="nofollow noopener" target="_blank">create many more jobs than they eliminate</a>.</li> </ul> <p style="text-align: justify;"><a href="https://www.bloomberg.com/view/articles/2017-06-02/coal-s-future-in-india">https://www.bloomberg.com/view/articles/2017-06-02/coal-s-future-in-india</a></p> </figure> </figure> </figure> ', 'caption_image_eng' => '' ), 'Kanal' => array( 'id' => '2', 'title' => 'News & Blog', 'description' => 'News & Blog', 'published' => true, 'title_eng' => 'News & Blog', 'description_eng' => 'News & Blog' ), 'SubKanal' => array( 'id' => '7', 'kanal_id' => '2', 'title' => 'Blog Adaro', 'description' => 'Blog Adaro', 'published' => true, 'title_eng' => 'The Adaro Blog', 'description_eng' => 'The Adaro Blog' ) ), (int) 2 => array( 'News' => array( 'id' => '1253', 'kanal_id' => '2', 'sub_kanal_id' => '7', 'user_id' => '5', 'title' => 'Coking coal price talks stall as steelmakers, miners spar on contract terms', 'sub_title' => '', 'tgl_post' => '2017-06-01 19:34:00', 'author' => '', 'description' => '<p>Talks between Australian miners and Japanese steelmakers over coking coal supplies have stalled as the Japanese companies are pushing to move to more flexible arrangements from the current quarterly fixed-price terms.</p> <p>The Japanese are backed by BHP, the world's biggest producer of coking coal, a key steelmaking ingredient. However, other miners are against upending the 45-year-old fixed price settlement mechanism. Any changes could potentially further roil a market hit by wild swings recently.</p> <p>Coking coal supply contracts between Australian miners and Japanese steelmakers are accepted as the benchmark around the world.</p> <p>Pricing could instead be set by using the monthly average of a daily spot price, said three sources close to the negotiations.</p> <p>While none of the companies involved has publicly stated the precise changes being sought, several industry sources said that Japan's steelmakers are pushing for change.</p> <p>"The days of the benchmark system as we know it are dead," said a source close to the negotiations.</p> <p>Should the changes be agreed, coking coal prices would be more closely aligned to that for iron ore, the other main steel making ingredient.</p> <p>When supplies are short, as recently after a cyclone hit supply chains in Australia, miners would get a windfall.</p> <p>But miners would also be hit by low prices when supplies are plentiful and demand is weak, while the reverse would apply for steel mills.</p> <p>Japanese steelmakers led by Nippon Steel and Sumitomo Metal Corp have long resisted the idea of more flexible pricing, preferring the stability of supply under term contracts. But that is changing.</p> <p>"They want index-linked or fluctuating pricing," said a source at one of the miners. "They are tired of quarterly discussions and want more third-party assessments."</p> <p>Meanwhile, another source with ties to the miners said talks were close to setting a benchmark price of around $195 a ton as early as Friday that would apply retroactively for the second quarter of 2017. The price roughly equates to the average coking coal price during March to May.</p> <p>BHP is aligned with the Japanese steelmakers, with Chief Commercial Officer Arnoud Balhuizen telling reporters in Melbourne on Thursday: "We are not participating in quarterly benchmarks."</p> <p>"Our conversations with our customers are very constructive," Balhuizen said. "We understand, probably triggered by the recent volatility in the market, people are more and more open to not fixing prices on a quarterly basis."</p> <p>Other miners led by Glencore and Peabody are resisting the moves since they sell coal with a lower heat content that could be priced at a discount to a spot market price, sources said.</p> <p>Prices for Australian premium coking coal surged to as high as $314 a ton earlier this year after Cyclone Debbie hit Queensland. They were quoted by S&P Global Platts at $149.20 per ton on Wednesday.</p> <p>The cyclone knocked out supply chains and forced a hiatus in talks on coking coal prices that would normally be wound up by March or April. The storm also forced Japanese steelmakers to scramble for alternative supplies.</p> <p>For a graphic on how cyclone disrupts coal market IMG, click <a href="http://fingfx.thomsonreuters.com/gfx/rngs/AUSTRALIA-CYCLONE-COAL/010040F70ZD/AUSTRALIA-CYCLONE-COAL.jpg">here</a></p> <p>For a graphic on Japanese steelmakers' coking coal imports, click <a href="http://fingfx.thomsonreuters.com/gfx/rngs/JAPAN-STEEL-COAL/010040QQ1LJ/JAPAN-STEEL-COAL.jpg">here</a></p> <p>(Additional reporting by Yuka Obayashi in TOKYO and Sonali Paul in MELBOURNE; Editing by Christian Schmollinger)</p> <p><a href="http://www.reuters.com/article/us-coal-australia-japan-idUSKBN18S4T1">http://www.reuters.com/article/us-coal-australia-japan-idUSKBN18S4T1</a></p> ', 'image' => '', 'gambar' => '', 'berkas' => '', 'berkas_eng' => '', 'caption_image' => '', 'tag' => '', 'headline' => false, 'hit' => '286', 'agregasi' => false, 'published' => true, 'created' => '2017-06-06 19:36:25', 'modified' => '2017-06-06 19:36:25', 'title_eng' => 'Coking coal price talks stall as steelmakers, miners spar on contract terms', 'sub_title_eng' => '', 'description_eng' => '<p>Talks between Australian miners and Japanese steelmakers over coking coal supplies have stalled as the Japanese companies are pushing to move to more flexible arrangements from the current quarterly fixed-price terms.</p> <p>The Japanese are backed by BHP, the world's biggest producer of coking coal, a key steelmaking ingredient. However, other miners are against upending the 45-year-old fixed price settlement mechanism. Any changes could potentially further roil a market hit by wild swings recently.</p> <p>Coking coal supply contracts between Australian miners and Japanese steelmakers are accepted as the benchmark around the world.</p> <p>Pricing could instead be set by using the monthly average of a daily spot price, said three sources close to the negotiations.</p> <p>While none of the companies involved has publicly stated the precise changes being sought, several industry sources said that Japan's steelmakers are pushing for change.</p> <p>"The days of the benchmark system as we know it are dead," said a source close to the negotiations.</p> <p>Should the changes be agreed, coking coal prices would be more closely aligned to that for iron ore, the other main steel making ingredient.</p> <p>When supplies are short, as recently after a cyclone hit supply chains in Australia, miners would get a windfall.</p> <p>But miners would also be hit by low prices when supplies are plentiful and demand is weak, while the reverse would apply for steel mills.</p> <p>Japanese steelmakers led by Nippon Steel and Sumitomo Metal Corp have long resisted the idea of more flexible pricing, preferring the stability of supply under term contracts. But that is changing.</p> <p>"They want index-linked or fluctuating pricing," said a source at one of the miners. "They are tired of quarterly discussions and want more third-party assessments."</p> <p>Meanwhile, another source with ties to the miners said talks were close to setting a benchmark price of around $195 a ton as early as Friday that would apply retroactively for the second quarter of 2017. The price roughly equates to the average coking coal price during March to May.</p> <p>BHP is aligned with the Japanese steelmakers, with Chief Commercial Officer Arnoud Balhuizen telling reporters in Melbourne on Thursday: "We are not participating in quarterly benchmarks."</p> <p>"Our conversations with our customers are very constructive," Balhuizen said. "We understand, probably triggered by the recent volatility in the market, people are more and more open to not fixing prices on a quarterly basis."</p> <p>Other miners led by Glencore and Peabody are resisting the moves since they sell coal with a lower heat content that could be priced at a discount to a spot market price, sources said.</p> <p>Prices for Australian premium coking coal surged to as high as $314 a ton earlier this year after Cyclone Debbie hit Queensland. They were quoted by S&P Global Platts at $149.20 per ton on Wednesday.</p> <p>The cyclone knocked out supply chains and forced a hiatus in talks on coking coal prices that would normally be wound up by March or April. The storm also forced Japanese steelmakers to scramble for alternative supplies.</p> <p>For a graphic on how cyclone disrupts coal market IMG, click <a href="http://fingfx.thomsonreuters.com/gfx/rngs/AUSTRALIA-CYCLONE-COAL/010040F70ZD/AUSTRALIA-CYCLONE-COAL.jpg">here</a></p> <p>For a graphic on Japanese steelmakers' coking coal imports, click <a href="http://fingfx.thomsonreuters.com/gfx/rngs/JAPAN-STEEL-COAL/010040QQ1LJ/JAPAN-STEEL-COAL.jpg">here</a></p> <p>(Additional reporting by Yuka Obayashi in TOKYO and Sonali Paul in MELBOURNE; Editing by Christian Schmollinger)</p> <p><a href="http://www.reuters.com/article/us-coal-australia-japan-idUSKBN18S4T1">http://www.reuters.com/article/us-coal-australia-japan-idUSKBN18S4T1</a></p> ', 'caption_image_eng' => '' ), 'Kanal' => array( 'id' => '2', 'title' => 'News & Blog', 'description' => 'News & Blog', 'published' => true, 'title_eng' => 'News & Blog', 'description_eng' => 'News & Blog' ), 'SubKanal' => array( 'id' => '7', 'kanal_id' => '2', 'title' => 'Blog Adaro', 'description' => 'Blog Adaro', 'published' => true, 'title_eng' => 'The Adaro Blog', 'description_eng' => 'The Adaro Blog' ) ) ) $csr = array( (int) 0 => array( 'News' => array( 'id' => '1256', 'kanal_id' => '3', 'sub_kanal_id' => '11', 'user_id' => '3', 'title' => 'AE Presentation Jun 2017', 'sub_title' => '', 'tgl_post' => '2017-06-01 15:25:00', 'author' => '', 'description' => '', 'image' => '', 'gambar' => '', 'berkas' => 'AE Presentation - 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include - APP/View/News/home.ctp, line 168 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 963 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 111
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The Hong Kong-listed units of the state-owned giants, which jumped Monday, said Sunday they were notified by their parent companies of “significant” matters, while subsidiaries in Shanghai <a href="https://www.bloomberg.com/news/terminal/OR0LWJ6JTSE8" itemprop="StoryLink" itemscope="itemscope" rel="nofollow noopener" target="_blank" title="China Shenhua, GD Power to Be Halted From Shanghai Trading (1)">requested</a>trading halts. Neither parent, which have combined assets of almost 1.82 trillion yuan ($267 billion), responded to requests for comment.</p> <p>A Shenhua-Guodian tie-up is the latest proposed combination in China’s power industry and differs from an earlier plan, <a href="https://www.bloomberg.com/news/articles/2017-05-08/china-said-to-mull-3-mega-power-firms-in-855-billion-reshuffle" itemprop="StoryLink" itemscope="itemscope" target="_blank" title="China’s Coal-Power Firms Surge as Mega-Merger Said Planned (3)">reported</a> by Bloomberg last month, that would have created three energy giants through mergers of eight companies. The power industry has been <a href="https://www.bloomberg.com/news/terminal/OR1PN46JTSE8" itemprop="StoryLink" itemscope="itemscope" rel="nofollow noopener" target="_blank" title="China to Keep Focus on Coal Power, Steel in SOE Reform: Daily">targeted</a> for restructuring as President Xi Jinping tries to cut industrial overcapacity, the number of state-owned enterprises and the country’s reliance on coal, as his government seeks to rebalance the $11 trillion economy toward more consumer spending.</p> <p>“The central government has determined to reform and shrink the number of major power generators as it doesn’t want to see continued expansion of coal-fired power capacity,” said Laban Yu, head of Asia oil and gas equity research at Jefferies Group LLC in Hong Kong. “Shenhua matches well with almost anybody as their high-quality coal assets could immediately help every coal-fired generator’s bottom line.”</p> <p>Regulators had considered merging Shenhua with <a href="https://www.bloomberg.com/quote/CHDACZ:CH" itemprop="StoryLink" itemscope="itemscope" title="Company Overview">China Datang Corp.</a> and <a href="https://www.bloomberg.com/quote/CGNPCZ:CH" itemprop="StoryLink" itemscope="itemscope" title="Company Overview">China General Nuclear Power Corp.</a> That proposal -- to create three power giants out of eight coal-fired and nuclear generators with combined assets of almost 5.9 trillion yuan -- pitched Guodian together with <a href="https://www.bloomberg.com/quote/HUADIZ:CH" itemprop="StoryLink" itemscope="itemscope" title="Company Overview">China Huadian Corp.</a> and <a href="https://www.bloomberg.com/quote/CNNZ:CH" itemprop="StoryLink" itemscope="itemscope" title="Company Overview">China National Nuclear Corp.</a></p> <h3>Deepen Consolidation</h3> <p>The State-owned Assets Supervision and Administration Commission didn’t respond to a faxed request for comment Sunday. Sasac’s Chairman Xiao Yaqing said in March that the country will deepen consolidation of state-owned enterprises this year</p> <p>Shenhua had 1.014 trillion yuan in <a href="https://www.bloomberg.com/news/terminal/OQV7N66TTDSU" itemprop="StoryLink" itemscope="itemscope" rel="nofollow noopener" target="_blank" title="Shenhua Group’s Total Assets Exceed 1 Trillion Yuan at End April">assets</a> and total power generating capacity of about 83 gigawatts at the end of April, it said in a <a href="https://mp.weixin.qq.com/s/hj5xSKUaP6Q1pORXLIOz8g" itemprop="StoryLink" itemscope="itemscope" rel="nofollow noopener" target="_blank" title="Shenhua report">report</a> last week. The company produced about 290 million tons of coal <a href="https://www.bloomberg.com/news/terminal/ON1X5Q6K50XS" itemprop="StoryLink" itemscope="itemscope" rel="nofollow noopener" target="_blank" title="Shenhua Profit Rises 1st Time in 4 Years on Coal Price Surge (1)">last year</a>. Guodian at the end of 2016 had total assets of 803 billion yuan and 143 gigawatts of power-generating capacity, according to a <a href="http://www.cec.org.cn/yaowenkuaidi/2017-01-17/163848.html" itemprop="StoryLink" itemscope="itemscope" rel="nofollow noopener" target="_blank" title="CEC Website">statement</a> from the company posted by state-backed industry group China Electricity Council.</p> <p><a href="https://www.bloomberg.com/quote/1088:HK" itemprop="StoryLink" itemscope="itemscope" target="_blank" title="Year-to-Date Change">China Shenhua Energy Co. </a>said in a <a href="http://www.hkexnews.hk/listedco/listconews/SEHK/2017/0604/LTN20170604019.pdf" itemprop="StoryLink" itemscope="itemscope" rel="nofollow noopener" target="_blank" title="INSIDE INFORMATION ANNOUNCEMENT">filing</a> to the Hong Kong stock exchange Sunday that it was notified June 2 by its parent company of a significant matter that “contains substantial uncertainty which is subject to the approval of the relevant authorities.” Guodian’s Hong Kong-listed <a href="http://www.hkexnews.hk/listedco/listconews/SEHK/2017/0604/LTN20170604019.pdf" itemprop="StoryLink" itemscope="itemscope" rel="nofollow noopener" target="_blank" title="INSIDE INFORMATION ANNOUNCEMENT">China Longyuan Power Group Corp. </a>and <a href="https://www.bloomberg.com/quote/1296:HK" itemprop="StoryLink" itemscope="itemscope" target="_blank" title="Hong Kong-traded shares">Guodian Technology & Environment Group Corp.</a> issued similar statements Sunday.</p> <p>China Shenhua Energy’s <a href="https://www.bloomberg.com/quote/1088:HK" itemprop="StoryLink" itemscope="itemscope" target="_blank" title="Shenhua in HK">Hong Kong-listed</a> shares rose as much as 6.8 percent to HK$20.45 before paring gains to close up 2.7 percent at HK$19.66. China Longyuan ended up 2.6 percent, while Guodian Technology closed 17 percent higher. <a href="https://www.bloomberg.com/quote/991:HK" itemprop="StoryLink" itemscope="itemscope" target="_blank" title="Intraday Share Price">Datang International Power Generation Co.</a>, the listed unit of China Datang Corp., fell 5.1 percent. The city’s benchmark Hang Seng Index lost 0.2 percent.</p> <p><a href="https://www.bloomberg.com/news/articles/2017-06-04/china-s-shenhua-group-china-guodian-said-to-consider-merger-j3ipided">https://www.bloomberg.com/news/articles/2017-06-04/china-s-shenhua-group-china-guodian-said-to-consider-merger-j3ipided</a></p> ', 'image' => '', 'gambar' => '', 'berkas' => '', 'berkas_eng' => '', 'caption_image' => '', 'tag' => '', 'headline' => false, 'hit' => '293', 'agregasi' => false, 'published' => true, 'created' => '2017-06-06 19:41:53', 'modified' => '2017-06-06 19:41:53', 'title_eng' => 'Shenhua, China Guodian Said to Mull $267 Billion Power Giant', 'sub_title_eng' => '', 'description_eng' => '<p><a href="https://www.bloomberg.com/quote/SHGCLZ:CH" itemprop="StoryLink" itemscope="itemscope" title="Company Overview">Shenhua Group Corp.</a>, China’s biggest coal miner, and <a href="https://www.bloomberg.com/quote/CNEPGZ:CH" itemprop="StoryLink" itemscope="itemscope" title="Company Overview">China Guodian Corp.</a>, one of the nation’s largest coal-fired power generators, are in merger discussions, according to people with knowledge of the matter.</p> <p>The talks are preliminary and the merger may not go ahead, said the people, who asked not to be identified as the information isn’t public. The Hong Kong-listed units of the state-owned giants, which jumped Monday, said Sunday they were notified by their parent companies of “significant” matters, while subsidiaries in Shanghai <a href="https://www.bloomberg.com/news/terminal/OR0LWJ6JTSE8" itemprop="StoryLink" itemscope="itemscope" rel="nofollow noopener" target="_blank" title="China Shenhua, GD Power to Be Halted From Shanghai Trading (1)">requested</a>trading halts. Neither parent, which have combined assets of almost 1.82 trillion yuan ($267 billion), responded to requests for comment.</p> <p>A Shenhua-Guodian tie-up is the latest proposed combination in China’s power industry and differs from an earlier plan, <a href="https://www.bloomberg.com/news/articles/2017-05-08/china-said-to-mull-3-mega-power-firms-in-855-billion-reshuffle" itemprop="StoryLink" itemscope="itemscope" target="_blank" title="China’s Coal-Power Firms Surge as Mega-Merger Said Planned (3)">reported</a> by Bloomberg last month, that would have created three energy giants through mergers of eight companies. The power industry has been <a href="https://www.bloomberg.com/news/terminal/OR1PN46JTSE8" itemprop="StoryLink" itemscope="itemscope" rel="nofollow noopener" target="_blank" title="China to Keep Focus on Coal Power, Steel in SOE Reform: Daily">targeted</a> for restructuring as President Xi Jinping tries to cut industrial overcapacity, the number of state-owned enterprises and the country’s reliance on coal, as his government seeks to rebalance the $11 trillion economy toward more consumer spending.</p> <p>“The central government has determined to reform and shrink the number of major power generators as it doesn’t want to see continued expansion of coal-fired power capacity,” said Laban Yu, head of Asia oil and gas equity research at Jefferies Group LLC in Hong Kong. “Shenhua matches well with almost anybody as their high-quality coal assets could immediately help every coal-fired generator’s bottom line.”</p> <p>Regulators had considered merging Shenhua with <a href="https://www.bloomberg.com/quote/CHDACZ:CH" itemprop="StoryLink" itemscope="itemscope" title="Company Overview">China Datang Corp.</a> and <a href="https://www.bloomberg.com/quote/CGNPCZ:CH" itemprop="StoryLink" itemscope="itemscope" title="Company Overview">China General Nuclear Power Corp.</a> That proposal -- to create three power giants out of eight coal-fired and nuclear generators with combined assets of almost 5.9 trillion yuan -- pitched Guodian together with <a href="https://www.bloomberg.com/quote/HUADIZ:CH" itemprop="StoryLink" itemscope="itemscope" title="Company Overview">China Huadian Corp.</a> and <a href="https://www.bloomberg.com/quote/CNNZ:CH" itemprop="StoryLink" itemscope="itemscope" title="Company Overview">China National Nuclear Corp.</a></p> <h3>Deepen Consolidation</h3> <p>The State-owned Assets Supervision and Administration Commission didn’t respond to a faxed request for comment Sunday. Sasac’s Chairman Xiao Yaqing said in March that the country will deepen consolidation of state-owned enterprises this year</p> <p>Shenhua had 1.014 trillion yuan in <a href="https://www.bloomberg.com/news/terminal/OQV7N66TTDSU" itemprop="StoryLink" itemscope="itemscope" rel="nofollow noopener" target="_blank" title="Shenhua Group’s Total Assets Exceed 1 Trillion Yuan at End April">assets</a> and total power generating capacity of about 83 gigawatts at the end of April, it said in a <a href="https://mp.weixin.qq.com/s/hj5xSKUaP6Q1pORXLIOz8g" itemprop="StoryLink" itemscope="itemscope" rel="nofollow noopener" target="_blank" title="Shenhua report">report</a> last week. The company produced about 290 million tons of coal <a href="https://www.bloomberg.com/news/terminal/ON1X5Q6K50XS" itemprop="StoryLink" itemscope="itemscope" rel="nofollow noopener" target="_blank" title="Shenhua Profit Rises 1st Time in 4 Years on Coal Price Surge (1)">last year</a>. Guodian at the end of 2016 had total assets of 803 billion yuan and 143 gigawatts of power-generating capacity, according to a <a href="http://www.cec.org.cn/yaowenkuaidi/2017-01-17/163848.html" itemprop="StoryLink" itemscope="itemscope" rel="nofollow noopener" target="_blank" title="CEC Website">statement</a> from the company posted by state-backed industry group China Electricity Council.</p> <p><a href="https://www.bloomberg.com/quote/1088:HK" itemprop="StoryLink" itemscope="itemscope" target="_blank" title="Year-to-Date Change">China Shenhua Energy Co. </a>said in a <a href="http://www.hkexnews.hk/listedco/listconews/SEHK/2017/0604/LTN20170604019.pdf" itemprop="StoryLink" itemscope="itemscope" rel="nofollow noopener" target="_blank" title="INSIDE INFORMATION ANNOUNCEMENT">filing</a> to the Hong Kong stock exchange Sunday that it was notified June 2 by its parent company of a significant matter that “contains substantial uncertainty which is subject to the approval of the relevant authorities.” Guodian’s Hong Kong-listed <a href="http://www.hkexnews.hk/listedco/listconews/SEHK/2017/0604/LTN20170604019.pdf" itemprop="StoryLink" itemscope="itemscope" rel="nofollow noopener" target="_blank" title="INSIDE INFORMATION ANNOUNCEMENT">China Longyuan Power Group Corp. </a>and <a href="https://www.bloomberg.com/quote/1296:HK" itemprop="StoryLink" itemscope="itemscope" target="_blank" title="Hong Kong-traded shares">Guodian Technology & Environment Group Corp.</a> issued similar statements Sunday.</p> <p>China Shenhua Energy’s <a href="https://www.bloomberg.com/quote/1088:HK" itemprop="StoryLink" itemscope="itemscope" target="_blank" title="Shenhua in HK">Hong Kong-listed</a> shares rose as much as 6.8 percent to HK$20.45 before paring gains to close up 2.7 percent at HK$19.66. China Longyuan ended up 2.6 percent, while Guodian Technology closed 17 percent higher. <a href="https://www.bloomberg.com/quote/991:HK" itemprop="StoryLink" itemscope="itemscope" target="_blank" title="Intraday Share Price">Datang International Power Generation Co.</a>, the listed unit of China Datang Corp., fell 5.1 percent. The city’s benchmark Hang Seng Index lost 0.2 percent.</p> <p><a href="https://www.bloomberg.com/news/articles/2017-06-04/china-s-shenhua-group-china-guodian-said-to-consider-merger-j3ipided">https://www.bloomberg.com/news/articles/2017-06-04/china-s-shenhua-group-china-guodian-said-to-consider-merger-j3ipided</a></p> ', 'caption_image_eng' => '' ), 'Kanal' => array( 'id' => '2', 'title' => 'News & Blog', 'description' => 'News & Blog', 'published' => true, 'title_eng' => 'News & Blog', 'description_eng' => 'News & Blog' ), 'SubKanal' => array( 'id' => '7', 'kanal_id' => '2', 'title' => 'Blog Adaro', 'description' => 'Blog Adaro', 'published' => true, 'title_eng' => 'The Adaro Blog', 'description_eng' => 'The Adaro Blog' ) ), (int) 1 => array( 'News' => array( 'id' => '1254', 'kanal_id' => '2', 'sub_kanal_id' => '7', 'user_id' => '5', 'title' => 'Coal's Future in India', 'sub_title' => '', 'tgl_post' => '2017-06-02 19:36:00', 'author' => '', 'description' => '<p>The Indian trading house Adani Resources Ltd. has just reached an agreement with the Queensland government on royalty payments for the <a data-web-url="http://www.adaniaustralia.com/businesses/carmichael-coal-mine-and-rail-project" href="http://www.adaniaustralia.com/businesses/carmichael-coal-mine-and-rail-project" rel="nofollow noopener" target="_blank">Carmichael coal mine</a>, which the company is considering building in northeastern Australia. As one of the largest thermal coal mines in the world, it would exert a country-sized impact on global carbon emissions during its 60-year life. As the company decides whether to go ahead, it will need to keep in mind three relevant energy trends.</p> <p>First, Australian coal remains cheaper than natural gas – but not hugely so. Since 2011, coal has been as high as $5.38 per million British thermal units and gas as high as $13.96/MMBtu. However, since 2014, gas has fallen below coal’s peak prices. Thanks to <a href="https://www.bloomberg.com/news/terminal/OOQA1O6S9728" rel="nofollow noopener" target="_blank">U.S. exports</a>, the world may soon be flooded with natural gas, and that means gas prices aren’t likely to be spiking upward.</p> <figure align="center" data-align="center" data-chart-type="line" data-id="314090765" data-image-type="chart" data-thumbnail="https://assets.bwbx.io/images/users/iqjWHBFdfxIU/idWMG5O8SgWc/v1/460x260.png" data-type="image"> <h3>Asian Gas Plunges, But Coal Is Still Cheaper</h3> <p> </p> <p>Second, in the past year, the cost of solar generation in India has fallen by more than half. The country’s competitive auctions for solar power have pushed prices below 2.5 rupees ($0.04) per kilowatt-hour. While much experience with energy auctions has taught Bloomberg New Energy Finance to be skeptical of ultra-low bids, the trend is important. Solar is cheap and getting cheaper, and at a certain point it becomes hard to turn down as a marginal unit of new power generation.</p> <figure align="center" data-align="center" data-chart-type="line" data-id="314094338" data-image-type="chart" data-thumbnail="https://assets.bwbx.io/images/users/iqjWHBFdfxIU/i8JYTBimGCuw/v1/460x260.png" data-type="image"> <h3>Down by Half</h3> <p> </p> <p>The third trend has to do with the broader energy market in India. Solar at 4 cents undercuts the cost of other major generation sources. By BNEF’s calculations of the so-called levelized cost of energy <a href="https://www.bloomberg.com/view/articles/2017-06-02/coal-s-future-in-india#footnote-1496350575632">1</a> , solar has become significantly cheaper than new gas and coal-fired power. (Oh, and wind is also slightly cheaper than coal.)</p> <figure align="center" data-align="center" data-chart-type="bar" data-id="314094445" data-image-type="chart" data-thumbnail="https://assets.bwbx.io/images/users/iqjWHBFdfxIU/ibgsc.5bFSDM/v1/460x260.png" data-type="image"> <h3>Solar Prices Lowest</h3> <p> </p> <p>As my colleagues say in a <a href="https://www.bloomberg.com/news/terminal/OQ3QDM6TTDS2" rel="nofollow noopener" target="_blank">research note</a>, “Cheap and plentiful PV could lead to a strategic rethink on how India meets its future demand for electricity.” And analysts aren’t the only ones who think so. <a href="https://www.bloomberg.com/news/articles/2017-06-01/cheaper-solar-in-india-prompts-rethink-for-more-coal-projects" target="_blank">Indian power market players</a> also say that solar’s cost trend may limit the expansion of conventional power generation.</p> <p>To be sure, coal-fired power is in India to stay. It will probably even increase in absolute terms as electrification expands with the economy. At the same time, India’s domestic coal production is increasing, pushing its prices down about 10 percent lower than those of Australian imports. This differential might not be an issue for Adani Enterprises, which intends to export only to its own power projects on the coasts, where imports are still cheaper than domestic supply. But new infrastructure connecting inland Indian mines to the coasts could change that math during the lifetime of the Carmichael mine.</p> <p>Imported coal today faces cost competition from natural gas, renewables and domestically mined coal. It’s a dynamic market that presents challenges for the Adani board as it decides whether to invest in a 60-year asset.</p> <p>Weekend reads</p> <ul> <li>The two largest coal-fired power plants in New Jersey <a data-web-url="http://www.philly.com/philly/business/energy/pseg-shuts-down-its-last-n-j-coal-plants-its-just-economics-20170530.html" href="http://www.philly.com/philly/business/energy/pseg-shuts-down-its-last-n-j-coal-plants-its-just-economics-20170530.html" rel="nofollow noopener" target="_blank">shut down for good</a> June 1.</li> <li>The <a data-web-url="http://www.heraldnews.com/news/20170530/brayton-point-powers-down" href="http://www.heraldnews.com/news/20170530/brayton-point-powers-down" rel="nofollow noopener" target="_blank">last coal plant in Massachusetts</a> closed May 31 – and with it, <a data-web-url="https://www.eenews.net/stories/1060055243" href="https://www.eenews.net/stories/1060055243" rel="nofollow noopener" target="_blank">coal has disappeared from New England</a>.</li> <li>Gadfly’s David Fickling on an Exxon Mobil shareholder vote that shows how <a href="https://www.bloomberg.com/gadfly/articles/2017-06-01/funds-fire-up-real-climate-change" target="_blank">funds fire up real climate change</a>.</li> <li>Colorado’s utility regulators will require the state’s largest power company to <a data-web-url="http://www.denverpost.com/2017/05/28/colorado-utility-regulators-carbon-emission-xcel-energy/" href="http://www.denverpost.com/2017/05/28/colorado-utility-regulators-carbon-emission-xcel-energy/" rel="nofollow noopener" target="_blank">price the effects</a> of its carbon emissions.</li> <li>U.S. insurance and re-insurance <a data-web-url="http://www.artemis.bm/blog/2017/05/31/u-s-convective-storm-reinsurance-losses-hit-11bn-in-2017-ytd/" href="http://www.artemis.bm/blog/2017/05/31/u-s-convective-storm-reinsurance-losses-hit-11bn-in-2017-ytd/" rel="nofollow noopener" target="_blank">losses from severe storms have passed $10 billion</a>for the 10th consecutive year … and it’s only May.</li> <li>Mary Meeker of the venture capital firm Kleiner Perkins is out with her <a data-web-url="http://www.kpcb.com/internet-trends" href="http://www.kpcb.com/internet-trends" rel="nofollow noopener" target="_blank">latest Internet Trends report</a>, all 355 slides of it.</li> <li>A survey of artificial-intelligence researchers shows that most <a data-web-url="https://www.technologyreview.com/s/607970/experts-predict-when-artificial-intelligence-will-exceed-human-performance/" href="https://www.technologyreview.com/s/607970/experts-predict-when-artificial-intelligence-will-exceed-human-performance/" rel="nofollow noopener" target="_blank">expect machines to exceed humans in about 45 years</a> – coincidentally, about the length of a working life.</li> <li>Economist Brad DeLong says that “the <a data-web-url="http://equitablegrowth.org/equitablog/delong-the-future-of-work-automation-and-labor-inclusive-ai-technology-and-policy-for-a-diverse-human-future/" href="http://equitablegrowth.org/equitablog/delong-the-future-of-work-automation-and-labor-inclusive-ai-technology-and-policy-for-a-diverse-human-future/" rel="nofollow noopener" target="_blank">combination of coming AI with a market economy</a> will be absolute poison for equity and equitable growth.”</li> <li>Venture capitalist Marc Andreessen says that self-driving cars will <a data-web-url="https://www.recode.net/2017/5/30/15693382/marc-andreessen-automation-jobs-code-2017" href="https://www.recode.net/2017/5/30/15693382/marc-andreessen-automation-jobs-code-2017" rel="nofollow noopener" target="_blank">create many more jobs than they eliminate</a>.</li> </ul> <p style="text-align: justify;"><a href="https://www.bloomberg.com/view/articles/2017-06-02/coal-s-future-in-india">https://www.bloomberg.com/view/articles/2017-06-02/coal-s-future-in-india</a></p> </figure> </figure> </figure> ', 'image' => '', 'gambar' => '', 'berkas' => '', 'berkas_eng' => '', 'caption_image' => '', 'tag' => '', 'headline' => false, 'hit' => '323', 'agregasi' => false, 'published' => true, 'created' => '2017-06-06 19:40:11', 'modified' => '2017-06-06 19:40:11', 'title_eng' => 'Coal's Future in India', 'sub_title_eng' => '', 'description_eng' => '<p>The Indian trading house Adani Resources Ltd. has just reached an agreement with the Queensland government on royalty payments for the <a data-web-url="http://www.adaniaustralia.com/businesses/carmichael-coal-mine-and-rail-project" href="http://www.adaniaustralia.com/businesses/carmichael-coal-mine-and-rail-project" rel="nofollow noopener" target="_blank">Carmichael coal mine</a>, which the company is considering building in northeastern Australia. As one of the largest thermal coal mines in the world, it would exert a country-sized impact on global carbon emissions during its 60-year life. As the company decides whether to go ahead, it will need to keep in mind three relevant energy trends.</p> <p>First, Australian coal remains cheaper than natural gas – but not hugely so. Since 2011, coal has been as high as $5.38 per million British thermal units and gas as high as $13.96/MMBtu. However, since 2014, gas has fallen below coal’s peak prices. Thanks to <a href="https://www.bloomberg.com/news/terminal/OOQA1O6S9728" rel="nofollow noopener" target="_blank">U.S. exports</a>, the world may soon be flooded with natural gas, and that means gas prices aren’t likely to be spiking upward.</p> <figure align="center" data-align="center" data-chart-type="line" data-id="314090765" data-image-type="chart" data-thumbnail="https://assets.bwbx.io/images/users/iqjWHBFdfxIU/idWMG5O8SgWc/v1/460x260.png" data-type="image"> <h3>Asian Gas Plunges, But Coal Is Still Cheaper</h3> <p> </p> <p>Second, in the past year, the cost of solar generation in India has fallen by more than half. The country’s competitive auctions for solar power have pushed prices below 2.5 rupees ($0.04) per kilowatt-hour. While much experience with energy auctions has taught Bloomberg New Energy Finance to be skeptical of ultra-low bids, the trend is important. Solar is cheap and getting cheaper, and at a certain point it becomes hard to turn down as a marginal unit of new power generation.</p> <figure align="center" data-align="center" data-chart-type="line" data-id="314094338" data-image-type="chart" data-thumbnail="https://assets.bwbx.io/images/users/iqjWHBFdfxIU/i8JYTBimGCuw/v1/460x260.png" data-type="image"> <h3>Down by Half</h3> <p> </p> <p>The third trend has to do with the broader energy market in India. Solar at 4 cents undercuts the cost of other major generation sources. By BNEF’s calculations of the so-called levelized cost of energy <a href="https://www.bloomberg.com/view/articles/2017-06-02/coal-s-future-in-india#footnote-1496350575632">1</a> , solar has become significantly cheaper than new gas and coal-fired power. (Oh, and wind is also slightly cheaper than coal.)</p> <figure align="center" data-align="center" data-chart-type="bar" data-id="314094445" data-image-type="chart" data-thumbnail="https://assets.bwbx.io/images/users/iqjWHBFdfxIU/ibgsc.5bFSDM/v1/460x260.png" data-type="image"> <h3>Solar Prices Lowest</h3> <p> </p> <p>As my colleagues say in a <a href="https://www.bloomberg.com/news/terminal/OQ3QDM6TTDS2" rel="nofollow noopener" target="_blank">research note</a>, “Cheap and plentiful PV could lead to a strategic rethink on how India meets its future demand for electricity.” And analysts aren’t the only ones who think so. <a href="https://www.bloomberg.com/news/articles/2017-06-01/cheaper-solar-in-india-prompts-rethink-for-more-coal-projects" target="_blank">Indian power market players</a> also say that solar’s cost trend may limit the expansion of conventional power generation.</p> <p>To be sure, coal-fired power is in India to stay. It will probably even increase in absolute terms as electrification expands with the economy. At the same time, India’s domestic coal production is increasing, pushing its prices down about 10 percent lower than those of Australian imports. This differential might not be an issue for Adani Enterprises, which intends to export only to its own power projects on the coasts, where imports are still cheaper than domestic supply. But new infrastructure connecting inland Indian mines to the coasts could change that math during the lifetime of the Carmichael mine.</p> <p>Imported coal today faces cost competition from natural gas, renewables and domestically mined coal. It’s a dynamic market that presents challenges for the Adani board as it decides whether to invest in a 60-year asset.</p> <p>Weekend reads</p> <ul> <li>The two largest coal-fired power plants in New Jersey <a data-web-url="http://www.philly.com/philly/business/energy/pseg-shuts-down-its-last-n-j-coal-plants-its-just-economics-20170530.html" href="http://www.philly.com/philly/business/energy/pseg-shuts-down-its-last-n-j-coal-plants-its-just-economics-20170530.html" rel="nofollow noopener" target="_blank">shut down for good</a> June 1.</li> <li>The <a data-web-url="http://www.heraldnews.com/news/20170530/brayton-point-powers-down" href="http://www.heraldnews.com/news/20170530/brayton-point-powers-down" rel="nofollow noopener" target="_blank">last coal plant in Massachusetts</a> closed May 31 – and with it, <a data-web-url="https://www.eenews.net/stories/1060055243" href="https://www.eenews.net/stories/1060055243" rel="nofollow noopener" target="_blank">coal has disappeared from New England</a>.</li> <li>Gadfly’s David Fickling on an Exxon Mobil shareholder vote that shows how <a href="https://www.bloomberg.com/gadfly/articles/2017-06-01/funds-fire-up-real-climate-change" target="_blank">funds fire up real climate change</a>.</li> <li>Colorado’s utility regulators will require the state’s largest power company to <a data-web-url="http://www.denverpost.com/2017/05/28/colorado-utility-regulators-carbon-emission-xcel-energy/" href="http://www.denverpost.com/2017/05/28/colorado-utility-regulators-carbon-emission-xcel-energy/" rel="nofollow noopener" target="_blank">price the effects</a> of its carbon emissions.</li> <li>U.S. insurance and re-insurance <a data-web-url="http://www.artemis.bm/blog/2017/05/31/u-s-convective-storm-reinsurance-losses-hit-11bn-in-2017-ytd/" href="http://www.artemis.bm/blog/2017/05/31/u-s-convective-storm-reinsurance-losses-hit-11bn-in-2017-ytd/" rel="nofollow noopener" target="_blank">losses from severe storms have passed $10 billion</a>for the 10th consecutive year … and it’s only May.</li> <li>Mary Meeker of the venture capital firm Kleiner Perkins is out with her <a data-web-url="http://www.kpcb.com/internet-trends" href="http://www.kpcb.com/internet-trends" rel="nofollow noopener" target="_blank">latest Internet Trends report</a>, all 355 slides of it.</li> <li>A survey of artificial-intelligence researchers shows that most <a data-web-url="https://www.technologyreview.com/s/607970/experts-predict-when-artificial-intelligence-will-exceed-human-performance/" href="https://www.technologyreview.com/s/607970/experts-predict-when-artificial-intelligence-will-exceed-human-performance/" rel="nofollow noopener" target="_blank">expect machines to exceed humans in about 45 years</a> – coincidentally, about the length of a working life.</li> <li>Economist Brad DeLong says that “the <a data-web-url="http://equitablegrowth.org/equitablog/delong-the-future-of-work-automation-and-labor-inclusive-ai-technology-and-policy-for-a-diverse-human-future/" href="http://equitablegrowth.org/equitablog/delong-the-future-of-work-automation-and-labor-inclusive-ai-technology-and-policy-for-a-diverse-human-future/" rel="nofollow noopener" target="_blank">combination of coming AI with a market economy</a> will be absolute poison for equity and equitable growth.”</li> <li>Venture capitalist Marc Andreessen says that self-driving cars will <a data-web-url="https://www.recode.net/2017/5/30/15693382/marc-andreessen-automation-jobs-code-2017" href="https://www.recode.net/2017/5/30/15693382/marc-andreessen-automation-jobs-code-2017" rel="nofollow noopener" target="_blank">create many more jobs than they eliminate</a>.</li> </ul> <p style="text-align: justify;"><a href="https://www.bloomberg.com/view/articles/2017-06-02/coal-s-future-in-india">https://www.bloomberg.com/view/articles/2017-06-02/coal-s-future-in-india</a></p> </figure> </figure> </figure> ', 'caption_image_eng' => '' ), 'Kanal' => array( 'id' => '2', 'title' => 'News & Blog', 'description' => 'News & Blog', 'published' => true, 'title_eng' => 'News & Blog', 'description_eng' => 'News & Blog' ), 'SubKanal' => array( 'id' => '7', 'kanal_id' => '2', 'title' => 'Blog Adaro', 'description' => 'Blog Adaro', 'published' => true, 'title_eng' => 'The Adaro Blog', 'description_eng' => 'The Adaro Blog' ) ), (int) 2 => array( 'News' => array( 'id' => '1253', 'kanal_id' => '2', 'sub_kanal_id' => '7', 'user_id' => '5', 'title' => 'Coking coal price talks stall as steelmakers, miners spar on contract terms', 'sub_title' => '', 'tgl_post' => '2017-06-01 19:34:00', 'author' => '', 'description' => '<p>Talks between Australian miners and Japanese steelmakers over coking coal supplies have stalled as the Japanese companies are pushing to move to more flexible arrangements from the current quarterly fixed-price terms.</p> <p>The Japanese are backed by BHP, the world's biggest producer of coking coal, a key steelmaking ingredient. However, other miners are against upending the 45-year-old fixed price settlement mechanism. Any changes could potentially further roil a market hit by wild swings recently.</p> <p>Coking coal supply contracts between Australian miners and Japanese steelmakers are accepted as the benchmark around the world.</p> <p>Pricing could instead be set by using the monthly average of a daily spot price, said three sources close to the negotiations.</p> <p>While none of the companies involved has publicly stated the precise changes being sought, several industry sources said that Japan's steelmakers are pushing for change.</p> <p>"The days of the benchmark system as we know it are dead," said a source close to the negotiations.</p> <p>Should the changes be agreed, coking coal prices would be more closely aligned to that for iron ore, the other main steel making ingredient.</p> <p>When supplies are short, as recently after a cyclone hit supply chains in Australia, miners would get a windfall.</p> <p>But miners would also be hit by low prices when supplies are plentiful and demand is weak, while the reverse would apply for steel mills.</p> <p>Japanese steelmakers led by Nippon Steel and Sumitomo Metal Corp have long resisted the idea of more flexible pricing, preferring the stability of supply under term contracts. But that is changing.</p> <p>"They want index-linked or fluctuating pricing," said a source at one of the miners. "They are tired of quarterly discussions and want more third-party assessments."</p> <p>Meanwhile, another source with ties to the miners said talks were close to setting a benchmark price of around $195 a ton as early as Friday that would apply retroactively for the second quarter of 2017. The price roughly equates to the average coking coal price during March to May.</p> <p>BHP is aligned with the Japanese steelmakers, with Chief Commercial Officer Arnoud Balhuizen telling reporters in Melbourne on Thursday: "We are not participating in quarterly benchmarks."</p> <p>"Our conversations with our customers are very constructive," Balhuizen said. "We understand, probably triggered by the recent volatility in the market, people are more and more open to not fixing prices on a quarterly basis."</p> <p>Other miners led by Glencore and Peabody are resisting the moves since they sell coal with a lower heat content that could be priced at a discount to a spot market price, sources said.</p> <p>Prices for Australian premium coking coal surged to as high as $314 a ton earlier this year after Cyclone Debbie hit Queensland. They were quoted by S&P Global Platts at $149.20 per ton on Wednesday.</p> <p>The cyclone knocked out supply chains and forced a hiatus in talks on coking coal prices that would normally be wound up by March or April. The storm also forced Japanese steelmakers to scramble for alternative supplies.</p> <p>For a graphic on how cyclone disrupts coal market IMG, click <a href="http://fingfx.thomsonreuters.com/gfx/rngs/AUSTRALIA-CYCLONE-COAL/010040F70ZD/AUSTRALIA-CYCLONE-COAL.jpg">here</a></p> <p>For a graphic on Japanese steelmakers' coking coal imports, click <a href="http://fingfx.thomsonreuters.com/gfx/rngs/JAPAN-STEEL-COAL/010040QQ1LJ/JAPAN-STEEL-COAL.jpg">here</a></p> <p>(Additional reporting by Yuka Obayashi in TOKYO and Sonali Paul in MELBOURNE; Editing by Christian Schmollinger)</p> <p><a href="http://www.reuters.com/article/us-coal-australia-japan-idUSKBN18S4T1">http://www.reuters.com/article/us-coal-australia-japan-idUSKBN18S4T1</a></p> ', 'image' => '', 'gambar' => '', 'berkas' => '', 'berkas_eng' => '', 'caption_image' => '', 'tag' => '', 'headline' => false, 'hit' => '286', 'agregasi' => false, 'published' => true, 'created' => '2017-06-06 19:36:25', 'modified' => '2017-06-06 19:36:25', 'title_eng' => 'Coking coal price talks stall as steelmakers, miners spar on contract terms', 'sub_title_eng' => '', 'description_eng' => '<p>Talks between Australian miners and Japanese steelmakers over coking coal supplies have stalled as the Japanese companies are pushing to move to more flexible arrangements from the current quarterly fixed-price terms.</p> <p>The Japanese are backed by BHP, the world's biggest producer of coking coal, a key steelmaking ingredient. However, other miners are against upending the 45-year-old fixed price settlement mechanism. Any changes could potentially further roil a market hit by wild swings recently.</p> <p>Coking coal supply contracts between Australian miners and Japanese steelmakers are accepted as the benchmark around the world.</p> <p>Pricing could instead be set by using the monthly average of a daily spot price, said three sources close to the negotiations.</p> <p>While none of the companies involved has publicly stated the precise changes being sought, several industry sources said that Japan's steelmakers are pushing for change.</p> <p>"The days of the benchmark system as we know it are dead," said a source close to the negotiations.</p> <p>Should the changes be agreed, coking coal prices would be more closely aligned to that for iron ore, the other main steel making ingredient.</p> <p>When supplies are short, as recently after a cyclone hit supply chains in Australia, miners would get a windfall.</p> <p>But miners would also be hit by low prices when supplies are plentiful and demand is weak, while the reverse would apply for steel mills.</p> <p>Japanese steelmakers led by Nippon Steel and Sumitomo Metal Corp have long resisted the idea of more flexible pricing, preferring the stability of supply under term contracts. But that is changing.</p> <p>"They want index-linked or fluctuating pricing," said a source at one of the miners. "They are tired of quarterly discussions and want more third-party assessments."</p> <p>Meanwhile, another source with ties to the miners said talks were close to setting a benchmark price of around $195 a ton as early as Friday that would apply retroactively for the second quarter of 2017. The price roughly equates to the average coking coal price during March to May.</p> <p>BHP is aligned with the Japanese steelmakers, with Chief Commercial Officer Arnoud Balhuizen telling reporters in Melbourne on Thursday: "We are not participating in quarterly benchmarks."</p> <p>"Our conversations with our customers are very constructive," Balhuizen said. "We understand, probably triggered by the recent volatility in the market, people are more and more open to not fixing prices on a quarterly basis."</p> <p>Other miners led by Glencore and Peabody are resisting the moves since they sell coal with a lower heat content that could be priced at a discount to a spot market price, sources said.</p> <p>Prices for Australian premium coking coal surged to as high as $314 a ton earlier this year after Cyclone Debbie hit Queensland. They were quoted by S&P Global Platts at $149.20 per ton on Wednesday.</p> <p>The cyclone knocked out supply chains and forced a hiatus in talks on coking coal prices that would normally be wound up by March or April. The storm also forced Japanese steelmakers to scramble for alternative supplies.</p> <p>For a graphic on how cyclone disrupts coal market IMG, click <a href="http://fingfx.thomsonreuters.com/gfx/rngs/AUSTRALIA-CYCLONE-COAL/010040F70ZD/AUSTRALIA-CYCLONE-COAL.jpg">here</a></p> <p>For a graphic on Japanese steelmakers' coking coal imports, click <a href="http://fingfx.thomsonreuters.com/gfx/rngs/JAPAN-STEEL-COAL/010040QQ1LJ/JAPAN-STEEL-COAL.jpg">here</a></p> <p>(Additional reporting by Yuka Obayashi in TOKYO and Sonali Paul in MELBOURNE; Editing by Christian Schmollinger)</p> <p><a href="http://www.reuters.com/article/us-coal-australia-japan-idUSKBN18S4T1">http://www.reuters.com/article/us-coal-australia-japan-idUSKBN18S4T1</a></p> ', 'caption_image_eng' => '' ), 'Kanal' => array( 'id' => '2', 'title' => 'News & Blog', 'description' => 'News & Blog', 'published' => true, 'title_eng' => 'News & Blog', 'description_eng' => 'News & Blog' ), 'SubKanal' => array( 'id' => '7', 'kanal_id' => '2', 'title' => 'Blog Adaro', 'description' => 'Blog Adaro', 'published' => true, 'title_eng' => 'The Adaro Blog', 'description_eng' => 'The Adaro Blog' ) ) ) $csr = array( (int) 0 => array( 'News' => array( 'id' => '1256', 'kanal_id' => '3', 'sub_kanal_id' => '11', 'user_id' => '3', 'title' => 'AE Presentation Jun 2017', 'sub_title' => '', 'tgl_post' => '2017-06-01 15:25:00', 'author' => '', 'description' => '', 'image' => '', 'gambar' => '', 'berkas' => 'AE Presentation - 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The Hong Kong-listed units of the state-owned giants, which jumped Monday, said Sunday they were notified by their parent companies of “significant” matters, while subsidiaries in Shanghai <a href="https://www.bloomberg.com/news/terminal/OR0LWJ6JTSE8" itemprop="StoryLink" itemscope="itemscope" rel="nofollow noopener" target="_blank" title="China Shenhua, GD Power to Be Halted From Shanghai Trading (1)">requested</a>trading halts. Neither parent, which have combined assets of almost 1.82 trillion yuan ($267 billion), responded to requests for comment.</p> <p>A Shenhua-Guodian tie-up is the latest proposed combination in China’s power industry and differs from an earlier plan, <a href="https://www.bloomberg.com/news/articles/2017-05-08/china-said-to-mull-3-mega-power-firms-in-855-billion-reshuffle" itemprop="StoryLink" itemscope="itemscope" target="_blank" title="China’s Coal-Power Firms Surge as Mega-Merger Said Planned (3)">reported</a> by Bloomberg last month, that would have created three energy giants through mergers of eight companies. The power industry has been <a href="https://www.bloomberg.com/news/terminal/OR1PN46JTSE8" itemprop="StoryLink" itemscope="itemscope" rel="nofollow noopener" target="_blank" title="China to Keep Focus on Coal Power, Steel in SOE Reform: Daily">targeted</a> for restructuring as President Xi Jinping tries to cut industrial overcapacity, the number of state-owned enterprises and the country’s reliance on coal, as his government seeks to rebalance the $11 trillion economy toward more consumer spending.</p> <p>“The central government has determined to reform and shrink the number of major power generators as it doesn’t want to see continued expansion of coal-fired power capacity,” said Laban Yu, head of Asia oil and gas equity research at Jefferies Group LLC in Hong Kong. “Shenhua matches well with almost anybody as their high-quality coal assets could immediately help every coal-fired generator’s bottom line.”</p> <p>Regulators had considered merging Shenhua with <a href="https://www.bloomberg.com/quote/CHDACZ:CH" itemprop="StoryLink" itemscope="itemscope" title="Company Overview">China Datang Corp.</a> and <a href="https://www.bloomberg.com/quote/CGNPCZ:CH" itemprop="StoryLink" itemscope="itemscope" title="Company Overview">China General Nuclear Power Corp.</a> That proposal -- to create three power giants out of eight coal-fired and nuclear generators with combined assets of almost 5.9 trillion yuan -- pitched Guodian together with <a href="https://www.bloomberg.com/quote/HUADIZ:CH" itemprop="StoryLink" itemscope="itemscope" title="Company Overview">China Huadian Corp.</a> and <a href="https://www.bloomberg.com/quote/CNNZ:CH" itemprop="StoryLink" itemscope="itemscope" title="Company Overview">China National Nuclear Corp.</a></p> <h3>Deepen Consolidation</h3> <p>The State-owned Assets Supervision and Administration Commission didn’t respond to a faxed request for comment Sunday. Sasac’s Chairman Xiao Yaqing said in March that the country will deepen consolidation of state-owned enterprises this year</p> <p>Shenhua had 1.014 trillion yuan in <a href="https://www.bloomberg.com/news/terminal/OQV7N66TTDSU" itemprop="StoryLink" itemscope="itemscope" rel="nofollow noopener" target="_blank" title="Shenhua Group’s Total Assets Exceed 1 Trillion Yuan at End April">assets</a> and total power generating capacity of about 83 gigawatts at the end of April, it said in a <a href="https://mp.weixin.qq.com/s/hj5xSKUaP6Q1pORXLIOz8g" itemprop="StoryLink" itemscope="itemscope" rel="nofollow noopener" target="_blank" title="Shenhua report">report</a> last week. The company produced about 290 million tons of coal <a href="https://www.bloomberg.com/news/terminal/ON1X5Q6K50XS" itemprop="StoryLink" itemscope="itemscope" rel="nofollow noopener" target="_blank" title="Shenhua Profit Rises 1st Time in 4 Years on Coal Price Surge (1)">last year</a>. Guodian at the end of 2016 had total assets of 803 billion yuan and 143 gigawatts of power-generating capacity, according to a <a href="http://www.cec.org.cn/yaowenkuaidi/2017-01-17/163848.html" itemprop="StoryLink" itemscope="itemscope" rel="nofollow noopener" target="_blank" title="CEC Website">statement</a> from the company posted by state-backed industry group China Electricity Council.</p> <p><a href="https://www.bloomberg.com/quote/1088:HK" itemprop="StoryLink" itemscope="itemscope" target="_blank" title="Year-to-Date Change">China Shenhua Energy Co. </a>said in a <a href="http://www.hkexnews.hk/listedco/listconews/SEHK/2017/0604/LTN20170604019.pdf" itemprop="StoryLink" itemscope="itemscope" rel="nofollow noopener" target="_blank" title="INSIDE INFORMATION ANNOUNCEMENT">filing</a> to the Hong Kong stock exchange Sunday that it was notified June 2 by its parent company of a significant matter that “contains substantial uncertainty which is subject to the approval of the relevant authorities.” Guodian’s Hong Kong-listed <a href="http://www.hkexnews.hk/listedco/listconews/SEHK/2017/0604/LTN20170604019.pdf" itemprop="StoryLink" itemscope="itemscope" rel="nofollow noopener" target="_blank" title="INSIDE INFORMATION ANNOUNCEMENT">China Longyuan Power Group Corp. </a>and <a href="https://www.bloomberg.com/quote/1296:HK" itemprop="StoryLink" itemscope="itemscope" target="_blank" title="Hong Kong-traded shares">Guodian Technology & Environment Group Corp.</a> issued similar statements Sunday.</p> <p>China Shenhua Energy’s <a href="https://www.bloomberg.com/quote/1088:HK" itemprop="StoryLink" itemscope="itemscope" target="_blank" title="Shenhua in HK">Hong Kong-listed</a> shares rose as much as 6.8 percent to HK$20.45 before paring gains to close up 2.7 percent at HK$19.66. China Longyuan ended up 2.6 percent, while Guodian Technology closed 17 percent higher. <a href="https://www.bloomberg.com/quote/991:HK" itemprop="StoryLink" itemscope="itemscope" target="_blank" title="Intraday Share Price">Datang International Power Generation Co.</a>, the listed unit of China Datang Corp., fell 5.1 percent. The city’s benchmark Hang Seng Index lost 0.2 percent.</p> <p><a href="https://www.bloomberg.com/news/articles/2017-06-04/china-s-shenhua-group-china-guodian-said-to-consider-merger-j3ipided">https://www.bloomberg.com/news/articles/2017-06-04/china-s-shenhua-group-china-guodian-said-to-consider-merger-j3ipided</a></p> ', 'image' => '', 'gambar' => '', 'berkas' => '', 'berkas_eng' => '', 'caption_image' => '', 'tag' => '', 'headline' => false, 'hit' => '293', 'agregasi' => false, 'published' => true, 'created' => '2017-06-06 19:41:53', 'modified' => '2017-06-06 19:41:53', 'title_eng' => 'Shenhua, China Guodian Said to Mull $267 Billion Power Giant', 'sub_title_eng' => '', 'description_eng' => '<p><a href="https://www.bloomberg.com/quote/SHGCLZ:CH" itemprop="StoryLink" itemscope="itemscope" title="Company Overview">Shenhua Group Corp.</a>, China’s biggest coal miner, and <a href="https://www.bloomberg.com/quote/CNEPGZ:CH" itemprop="StoryLink" itemscope="itemscope" title="Company Overview">China Guodian Corp.</a>, one of the nation’s largest coal-fired power generators, are in merger discussions, according to people with knowledge of the matter.</p> <p>The talks are preliminary and the merger may not go ahead, said the people, who asked not to be identified as the information isn’t public. The Hong Kong-listed units of the state-owned giants, which jumped Monday, said Sunday they were notified by their parent companies of “significant” matters, while subsidiaries in Shanghai <a href="https://www.bloomberg.com/news/terminal/OR0LWJ6JTSE8" itemprop="StoryLink" itemscope="itemscope" rel="nofollow noopener" target="_blank" title="China Shenhua, GD Power to Be Halted From Shanghai Trading (1)">requested</a>trading halts. Neither parent, which have combined assets of almost 1.82 trillion yuan ($267 billion), responded to requests for comment.</p> <p>A Shenhua-Guodian tie-up is the latest proposed combination in China’s power industry and differs from an earlier plan, <a href="https://www.bloomberg.com/news/articles/2017-05-08/china-said-to-mull-3-mega-power-firms-in-855-billion-reshuffle" itemprop="StoryLink" itemscope="itemscope" target="_blank" title="China’s Coal-Power Firms Surge as Mega-Merger Said Planned (3)">reported</a> by Bloomberg last month, that would have created three energy giants through mergers of eight companies. The power industry has been <a href="https://www.bloomberg.com/news/terminal/OR1PN46JTSE8" itemprop="StoryLink" itemscope="itemscope" rel="nofollow noopener" target="_blank" title="China to Keep Focus on Coal Power, Steel in SOE Reform: Daily">targeted</a> for restructuring as President Xi Jinping tries to cut industrial overcapacity, the number of state-owned enterprises and the country’s reliance on coal, as his government seeks to rebalance the $11 trillion economy toward more consumer spending.</p> <p>“The central government has determined to reform and shrink the number of major power generators as it doesn’t want to see continued expansion of coal-fired power capacity,” said Laban Yu, head of Asia oil and gas equity research at Jefferies Group LLC in Hong Kong. “Shenhua matches well with almost anybody as their high-quality coal assets could immediately help every coal-fired generator’s bottom line.”</p> <p>Regulators had considered merging Shenhua with <a href="https://www.bloomberg.com/quote/CHDACZ:CH" itemprop="StoryLink" itemscope="itemscope" title="Company Overview">China Datang Corp.</a> and <a href="https://www.bloomberg.com/quote/CGNPCZ:CH" itemprop="StoryLink" itemscope="itemscope" title="Company Overview">China General Nuclear Power Corp.</a> That proposal -- to create three power giants out of eight coal-fired and nuclear generators with combined assets of almost 5.9 trillion yuan -- pitched Guodian together with <a href="https://www.bloomberg.com/quote/HUADIZ:CH" itemprop="StoryLink" itemscope="itemscope" title="Company Overview">China Huadian Corp.</a> and <a href="https://www.bloomberg.com/quote/CNNZ:CH" itemprop="StoryLink" itemscope="itemscope" title="Company Overview">China National Nuclear Corp.</a></p> <h3>Deepen Consolidation</h3> <p>The State-owned Assets Supervision and Administration Commission didn’t respond to a faxed request for comment Sunday. Sasac’s Chairman Xiao Yaqing said in March that the country will deepen consolidation of state-owned enterprises this year</p> <p>Shenhua had 1.014 trillion yuan in <a href="https://www.bloomberg.com/news/terminal/OQV7N66TTDSU" itemprop="StoryLink" itemscope="itemscope" rel="nofollow noopener" target="_blank" title="Shenhua Group’s Total Assets Exceed 1 Trillion Yuan at End April">assets</a> and total power generating capacity of about 83 gigawatts at the end of April, it said in a <a href="https://mp.weixin.qq.com/s/hj5xSKUaP6Q1pORXLIOz8g" itemprop="StoryLink" itemscope="itemscope" rel="nofollow noopener" target="_blank" title="Shenhua report">report</a> last week. The company produced about 290 million tons of coal <a href="https://www.bloomberg.com/news/terminal/ON1X5Q6K50XS" itemprop="StoryLink" itemscope="itemscope" rel="nofollow noopener" target="_blank" title="Shenhua Profit Rises 1st Time in 4 Years on Coal Price Surge (1)">last year</a>. Guodian at the end of 2016 had total assets of 803 billion yuan and 143 gigawatts of power-generating capacity, according to a <a href="http://www.cec.org.cn/yaowenkuaidi/2017-01-17/163848.html" itemprop="StoryLink" itemscope="itemscope" rel="nofollow noopener" target="_blank" title="CEC Website">statement</a> from the company posted by state-backed industry group China Electricity Council.</p> <p><a href="https://www.bloomberg.com/quote/1088:HK" itemprop="StoryLink" itemscope="itemscope" target="_blank" title="Year-to-Date Change">China Shenhua Energy Co. </a>said in a <a href="http://www.hkexnews.hk/listedco/listconews/SEHK/2017/0604/LTN20170604019.pdf" itemprop="StoryLink" itemscope="itemscope" rel="nofollow noopener" target="_blank" title="INSIDE INFORMATION ANNOUNCEMENT">filing</a> to the Hong Kong stock exchange Sunday that it was notified June 2 by its parent company of a significant matter that “contains substantial uncertainty which is subject to the approval of the relevant authorities.” Guodian’s Hong Kong-listed <a href="http://www.hkexnews.hk/listedco/listconews/SEHK/2017/0604/LTN20170604019.pdf" itemprop="StoryLink" itemscope="itemscope" rel="nofollow noopener" target="_blank" title="INSIDE INFORMATION ANNOUNCEMENT">China Longyuan Power Group Corp. </a>and <a href="https://www.bloomberg.com/quote/1296:HK" itemprop="StoryLink" itemscope="itemscope" target="_blank" title="Hong Kong-traded shares">Guodian Technology & Environment Group Corp.</a> issued similar statements Sunday.</p> <p>China Shenhua Energy’s <a href="https://www.bloomberg.com/quote/1088:HK" itemprop="StoryLink" itemscope="itemscope" target="_blank" title="Shenhua in HK">Hong Kong-listed</a> shares rose as much as 6.8 percent to HK$20.45 before paring gains to close up 2.7 percent at HK$19.66. China Longyuan ended up 2.6 percent, while Guodian Technology closed 17 percent higher. <a href="https://www.bloomberg.com/quote/991:HK" itemprop="StoryLink" itemscope="itemscope" target="_blank" title="Intraday Share Price">Datang International Power Generation Co.</a>, the listed unit of China Datang Corp., fell 5.1 percent. The city’s benchmark Hang Seng Index lost 0.2 percent.</p> <p><a href="https://www.bloomberg.com/news/articles/2017-06-04/china-s-shenhua-group-china-guodian-said-to-consider-merger-j3ipided">https://www.bloomberg.com/news/articles/2017-06-04/china-s-shenhua-group-china-guodian-said-to-consider-merger-j3ipided</a></p> ', 'caption_image_eng' => '' ), 'Kanal' => array( 'id' => '2', 'title' => 'News & Blog', 'description' => 'News & Blog', 'published' => true, 'title_eng' => 'News & Blog', 'description_eng' => 'News & Blog' ), 'SubKanal' => array( 'id' => '7', 'kanal_id' => '2', 'title' => 'Blog Adaro', 'description' => 'Blog Adaro', 'published' => true, 'title_eng' => 'The Adaro Blog', 'description_eng' => 'The Adaro Blog' ) ), (int) 1 => array( 'News' => array( 'id' => '1254', 'kanal_id' => '2', 'sub_kanal_id' => '7', 'user_id' => '5', 'title' => 'Coal's Future in India', 'sub_title' => '', 'tgl_post' => '2017-06-02 19:36:00', 'author' => '', 'description' => '<p>The Indian trading house Adani Resources Ltd. has just reached an agreement with the Queensland government on royalty payments for the <a data-web-url="http://www.adaniaustralia.com/businesses/carmichael-coal-mine-and-rail-project" href="http://www.adaniaustralia.com/businesses/carmichael-coal-mine-and-rail-project" rel="nofollow noopener" target="_blank">Carmichael coal mine</a>, which the company is considering building in northeastern Australia. As one of the largest thermal coal mines in the world, it would exert a country-sized impact on global carbon emissions during its 60-year life. As the company decides whether to go ahead, it will need to keep in mind three relevant energy trends.</p> <p>First, Australian coal remains cheaper than natural gas – but not hugely so. Since 2011, coal has been as high as $5.38 per million British thermal units and gas as high as $13.96/MMBtu. However, since 2014, gas has fallen below coal’s peak prices. Thanks to <a href="https://www.bloomberg.com/news/terminal/OOQA1O6S9728" rel="nofollow noopener" target="_blank">U.S. exports</a>, the world may soon be flooded with natural gas, and that means gas prices aren’t likely to be spiking upward.</p> <figure align="center" data-align="center" data-chart-type="line" data-id="314090765" data-image-type="chart" data-thumbnail="https://assets.bwbx.io/images/users/iqjWHBFdfxIU/idWMG5O8SgWc/v1/460x260.png" data-type="image"> <h3>Asian Gas Plunges, But Coal Is Still Cheaper</h3> <p> </p> <p>Second, in the past year, the cost of solar generation in India has fallen by more than half. The country’s competitive auctions for solar power have pushed prices below 2.5 rupees ($0.04) per kilowatt-hour. While much experience with energy auctions has taught Bloomberg New Energy Finance to be skeptical of ultra-low bids, the trend is important. Solar is cheap and getting cheaper, and at a certain point it becomes hard to turn down as a marginal unit of new power generation.</p> <figure align="center" data-align="center" data-chart-type="line" data-id="314094338" data-image-type="chart" data-thumbnail="https://assets.bwbx.io/images/users/iqjWHBFdfxIU/i8JYTBimGCuw/v1/460x260.png" data-type="image"> <h3>Down by Half</h3> <p> </p> <p>The third trend has to do with the broader energy market in India. Solar at 4 cents undercuts the cost of other major generation sources. By BNEF’s calculations of the so-called levelized cost of energy <a href="https://www.bloomberg.com/view/articles/2017-06-02/coal-s-future-in-india#footnote-1496350575632">1</a> , solar has become significantly cheaper than new gas and coal-fired power. (Oh, and wind is also slightly cheaper than coal.)</p> <figure align="center" data-align="center" data-chart-type="bar" data-id="314094445" data-image-type="chart" data-thumbnail="https://assets.bwbx.io/images/users/iqjWHBFdfxIU/ibgsc.5bFSDM/v1/460x260.png" data-type="image"> <h3>Solar Prices Lowest</h3> <p> </p> <p>As my colleagues say in a <a href="https://www.bloomberg.com/news/terminal/OQ3QDM6TTDS2" rel="nofollow noopener" target="_blank">research note</a>, “Cheap and plentiful PV could lead to a strategic rethink on how India meets its future demand for electricity.” And analysts aren’t the only ones who think so. <a href="https://www.bloomberg.com/news/articles/2017-06-01/cheaper-solar-in-india-prompts-rethink-for-more-coal-projects" target="_blank">Indian power market players</a> also say that solar’s cost trend may limit the expansion of conventional power generation.</p> <p>To be sure, coal-fired power is in India to stay. It will probably even increase in absolute terms as electrification expands with the economy. At the same time, India’s domestic coal production is increasing, pushing its prices down about 10 percent lower than those of Australian imports. This differential might not be an issue for Adani Enterprises, which intends to export only to its own power projects on the coasts, where imports are still cheaper than domestic supply. But new infrastructure connecting inland Indian mines to the coasts could change that math during the lifetime of the Carmichael mine.</p> <p>Imported coal today faces cost competition from natural gas, renewables and domestically mined coal. It’s a dynamic market that presents challenges for the Adani board as it decides whether to invest in a 60-year asset.</p> <p>Weekend reads</p> <ul> <li>The two largest coal-fired power plants in New Jersey <a data-web-url="http://www.philly.com/philly/business/energy/pseg-shuts-down-its-last-n-j-coal-plants-its-just-economics-20170530.html" href="http://www.philly.com/philly/business/energy/pseg-shuts-down-its-last-n-j-coal-plants-its-just-economics-20170530.html" rel="nofollow noopener" target="_blank">shut down for good</a> June 1.</li> <li>The <a data-web-url="http://www.heraldnews.com/news/20170530/brayton-point-powers-down" href="http://www.heraldnews.com/news/20170530/brayton-point-powers-down" rel="nofollow noopener" target="_blank">last coal plant in Massachusetts</a> closed May 31 – and with it, <a data-web-url="https://www.eenews.net/stories/1060055243" href="https://www.eenews.net/stories/1060055243" rel="nofollow noopener" target="_blank">coal has disappeared from New England</a>.</li> <li>Gadfly’s David Fickling on an Exxon Mobil shareholder vote that shows how <a href="https://www.bloomberg.com/gadfly/articles/2017-06-01/funds-fire-up-real-climate-change" target="_blank">funds fire up real climate change</a>.</li> <li>Colorado’s utility regulators will require the state’s largest power company to <a data-web-url="http://www.denverpost.com/2017/05/28/colorado-utility-regulators-carbon-emission-xcel-energy/" href="http://www.denverpost.com/2017/05/28/colorado-utility-regulators-carbon-emission-xcel-energy/" rel="nofollow noopener" target="_blank">price the effects</a> of its carbon emissions.</li> <li>U.S. insurance and re-insurance <a data-web-url="http://www.artemis.bm/blog/2017/05/31/u-s-convective-storm-reinsurance-losses-hit-11bn-in-2017-ytd/" href="http://www.artemis.bm/blog/2017/05/31/u-s-convective-storm-reinsurance-losses-hit-11bn-in-2017-ytd/" rel="nofollow noopener" target="_blank">losses from severe storms have passed $10 billion</a>for the 10th consecutive year … and it’s only May.</li> <li>Mary Meeker of the venture capital firm Kleiner Perkins is out with her <a data-web-url="http://www.kpcb.com/internet-trends" href="http://www.kpcb.com/internet-trends" rel="nofollow noopener" target="_blank">latest Internet Trends report</a>, all 355 slides of it.</li> <li>A survey of artificial-intelligence researchers shows that most <a data-web-url="https://www.technologyreview.com/s/607970/experts-predict-when-artificial-intelligence-will-exceed-human-performance/" href="https://www.technologyreview.com/s/607970/experts-predict-when-artificial-intelligence-will-exceed-human-performance/" rel="nofollow noopener" target="_blank">expect machines to exceed humans in about 45 years</a> – coincidentally, about the length of a working life.</li> <li>Economist Brad DeLong says that “the <a data-web-url="http://equitablegrowth.org/equitablog/delong-the-future-of-work-automation-and-labor-inclusive-ai-technology-and-policy-for-a-diverse-human-future/" href="http://equitablegrowth.org/equitablog/delong-the-future-of-work-automation-and-labor-inclusive-ai-technology-and-policy-for-a-diverse-human-future/" rel="nofollow noopener" target="_blank">combination of coming AI with a market economy</a> will be absolute poison for equity and equitable growth.”</li> <li>Venture capitalist Marc Andreessen says that self-driving cars will <a data-web-url="https://www.recode.net/2017/5/30/15693382/marc-andreessen-automation-jobs-code-2017" href="https://www.recode.net/2017/5/30/15693382/marc-andreessen-automation-jobs-code-2017" rel="nofollow noopener" target="_blank">create many more jobs than they eliminate</a>.</li> </ul> <p style="text-align: justify;"><a href="https://www.bloomberg.com/view/articles/2017-06-02/coal-s-future-in-india">https://www.bloomberg.com/view/articles/2017-06-02/coal-s-future-in-india</a></p> </figure> </figure> </figure> ', 'image' => '', 'gambar' => '', 'berkas' => '', 'berkas_eng' => '', 'caption_image' => '', 'tag' => '', 'headline' => false, 'hit' => '323', 'agregasi' => false, 'published' => true, 'created' => '2017-06-06 19:40:11', 'modified' => '2017-06-06 19:40:11', 'title_eng' => 'Coal's Future in India', 'sub_title_eng' => '', 'description_eng' => '<p>The Indian trading house Adani Resources Ltd. has just reached an agreement with the Queensland government on royalty payments for the <a data-web-url="http://www.adaniaustralia.com/businesses/carmichael-coal-mine-and-rail-project" href="http://www.adaniaustralia.com/businesses/carmichael-coal-mine-and-rail-project" rel="nofollow noopener" target="_blank">Carmichael coal mine</a>, which the company is considering building in northeastern Australia. As one of the largest thermal coal mines in the world, it would exert a country-sized impact on global carbon emissions during its 60-year life. As the company decides whether to go ahead, it will need to keep in mind three relevant energy trends.</p> <p>First, Australian coal remains cheaper than natural gas – but not hugely so. Since 2011, coal has been as high as $5.38 per million British thermal units and gas as high as $13.96/MMBtu. However, since 2014, gas has fallen below coal’s peak prices. Thanks to <a href="https://www.bloomberg.com/news/terminal/OOQA1O6S9728" rel="nofollow noopener" target="_blank">U.S. exports</a>, the world may soon be flooded with natural gas, and that means gas prices aren’t likely to be spiking upward.</p> <figure align="center" data-align="center" data-chart-type="line" data-id="314090765" data-image-type="chart" data-thumbnail="https://assets.bwbx.io/images/users/iqjWHBFdfxIU/idWMG5O8SgWc/v1/460x260.png" data-type="image"> <h3>Asian Gas Plunges, But Coal Is Still Cheaper</h3> <p> </p> <p>Second, in the past year, the cost of solar generation in India has fallen by more than half. The country’s competitive auctions for solar power have pushed prices below 2.5 rupees ($0.04) per kilowatt-hour. While much experience with energy auctions has taught Bloomberg New Energy Finance to be skeptical of ultra-low bids, the trend is important. Solar is cheap and getting cheaper, and at a certain point it becomes hard to turn down as a marginal unit of new power generation.</p> <figure align="center" data-align="center" data-chart-type="line" data-id="314094338" data-image-type="chart" data-thumbnail="https://assets.bwbx.io/images/users/iqjWHBFdfxIU/i8JYTBimGCuw/v1/460x260.png" data-type="image"> <h3>Down by Half</h3> <p> </p> <p>The third trend has to do with the broader energy market in India. Solar at 4 cents undercuts the cost of other major generation sources. By BNEF’s calculations of the so-called levelized cost of energy <a href="https://www.bloomberg.com/view/articles/2017-06-02/coal-s-future-in-india#footnote-1496350575632">1</a> , solar has become significantly cheaper than new gas and coal-fired power. (Oh, and wind is also slightly cheaper than coal.)</p> <figure align="center" data-align="center" data-chart-type="bar" data-id="314094445" data-image-type="chart" data-thumbnail="https://assets.bwbx.io/images/users/iqjWHBFdfxIU/ibgsc.5bFSDM/v1/460x260.png" data-type="image"> <h3>Solar Prices Lowest</h3> <p> </p> <p>As my colleagues say in a <a href="https://www.bloomberg.com/news/terminal/OQ3QDM6TTDS2" rel="nofollow noopener" target="_blank">research note</a>, “Cheap and plentiful PV could lead to a strategic rethink on how India meets its future demand for electricity.” And analysts aren’t the only ones who think so. <a href="https://www.bloomberg.com/news/articles/2017-06-01/cheaper-solar-in-india-prompts-rethink-for-more-coal-projects" target="_blank">Indian power market players</a> also say that solar’s cost trend may limit the expansion of conventional power generation.</p> <p>To be sure, coal-fired power is in India to stay. It will probably even increase in absolute terms as electrification expands with the economy. At the same time, India’s domestic coal production is increasing, pushing its prices down about 10 percent lower than those of Australian imports. This differential might not be an issue for Adani Enterprises, which intends to export only to its own power projects on the coasts, where imports are still cheaper than domestic supply. But new infrastructure connecting inland Indian mines to the coasts could change that math during the lifetime of the Carmichael mine.</p> <p>Imported coal today faces cost competition from natural gas, renewables and domestically mined coal. It’s a dynamic market that presents challenges for the Adani board as it decides whether to invest in a 60-year asset.</p> <p>Weekend reads</p> <ul> <li>The two largest coal-fired power plants in New Jersey <a data-web-url="http://www.philly.com/philly/business/energy/pseg-shuts-down-its-last-n-j-coal-plants-its-just-economics-20170530.html" href="http://www.philly.com/philly/business/energy/pseg-shuts-down-its-last-n-j-coal-plants-its-just-economics-20170530.html" rel="nofollow noopener" target="_blank">shut down for good</a> June 1.</li> <li>The <a data-web-url="http://www.heraldnews.com/news/20170530/brayton-point-powers-down" href="http://www.heraldnews.com/news/20170530/brayton-point-powers-down" rel="nofollow noopener" target="_blank">last coal plant in Massachusetts</a> closed May 31 – and with it, <a data-web-url="https://www.eenews.net/stories/1060055243" href="https://www.eenews.net/stories/1060055243" rel="nofollow noopener" target="_blank">coal has disappeared from New England</a>.</li> <li>Gadfly’s David Fickling on an Exxon Mobil shareholder vote that shows how <a href="https://www.bloomberg.com/gadfly/articles/2017-06-01/funds-fire-up-real-climate-change" target="_blank">funds fire up real climate change</a>.</li> <li>Colorado’s utility regulators will require the state’s largest power company to <a data-web-url="http://www.denverpost.com/2017/05/28/colorado-utility-regulators-carbon-emission-xcel-energy/" href="http://www.denverpost.com/2017/05/28/colorado-utility-regulators-carbon-emission-xcel-energy/" rel="nofollow noopener" target="_blank">price the effects</a> of its carbon emissions.</li> <li>U.S. insurance and re-insurance <a data-web-url="http://www.artemis.bm/blog/2017/05/31/u-s-convective-storm-reinsurance-losses-hit-11bn-in-2017-ytd/" href="http://www.artemis.bm/blog/2017/05/31/u-s-convective-storm-reinsurance-losses-hit-11bn-in-2017-ytd/" rel="nofollow noopener" target="_blank">losses from severe storms have passed $10 billion</a>for the 10th consecutive year … and it’s only May.</li> <li>Mary Meeker of the venture capital firm Kleiner Perkins is out with her <a data-web-url="http://www.kpcb.com/internet-trends" href="http://www.kpcb.com/internet-trends" rel="nofollow noopener" target="_blank">latest Internet Trends report</a>, all 355 slides of it.</li> <li>A survey of artificial-intelligence researchers shows that most <a data-web-url="https://www.technologyreview.com/s/607970/experts-predict-when-artificial-intelligence-will-exceed-human-performance/" href="https://www.technologyreview.com/s/607970/experts-predict-when-artificial-intelligence-will-exceed-human-performance/" rel="nofollow noopener" target="_blank">expect machines to exceed humans in about 45 years</a> – coincidentally, about the length of a working life.</li> <li>Economist Brad DeLong says that “the <a data-web-url="http://equitablegrowth.org/equitablog/delong-the-future-of-work-automation-and-labor-inclusive-ai-technology-and-policy-for-a-diverse-human-future/" href="http://equitablegrowth.org/equitablog/delong-the-future-of-work-automation-and-labor-inclusive-ai-technology-and-policy-for-a-diverse-human-future/" rel="nofollow noopener" target="_blank">combination of coming AI with a market economy</a> will be absolute poison for equity and equitable growth.”</li> <li>Venture capitalist Marc Andreessen says that self-driving cars will <a data-web-url="https://www.recode.net/2017/5/30/15693382/marc-andreessen-automation-jobs-code-2017" href="https://www.recode.net/2017/5/30/15693382/marc-andreessen-automation-jobs-code-2017" rel="nofollow noopener" target="_blank">create many more jobs than they eliminate</a>.</li> </ul> <p style="text-align: justify;"><a href="https://www.bloomberg.com/view/articles/2017-06-02/coal-s-future-in-india">https://www.bloomberg.com/view/articles/2017-06-02/coal-s-future-in-india</a></p> </figure> </figure> </figure> ', 'caption_image_eng' => '' ), 'Kanal' => array( 'id' => '2', 'title' => 'News & Blog', 'description' => 'News & Blog', 'published' => true, 'title_eng' => 'News & Blog', 'description_eng' => 'News & Blog' ), 'SubKanal' => array( 'id' => '7', 'kanal_id' => '2', 'title' => 'Blog Adaro', 'description' => 'Blog Adaro', 'published' => true, 'title_eng' => 'The Adaro Blog', 'description_eng' => 'The Adaro Blog' ) ), (int) 2 => array( 'News' => array( 'id' => '1253', 'kanal_id' => '2', 'sub_kanal_id' => '7', 'user_id' => '5', 'title' => 'Coking coal price talks stall as steelmakers, miners spar on contract terms', 'sub_title' => '', 'tgl_post' => '2017-06-01 19:34:00', 'author' => '', 'description' => '<p>Talks between Australian miners and Japanese steelmakers over coking coal supplies have stalled as the Japanese companies are pushing to move to more flexible arrangements from the current quarterly fixed-price terms.</p> <p>The Japanese are backed by BHP, the world's biggest producer of coking coal, a key steelmaking ingredient. However, other miners are against upending the 45-year-old fixed price settlement mechanism. Any changes could potentially further roil a market hit by wild swings recently.</p> <p>Coking coal supply contracts between Australian miners and Japanese steelmakers are accepted as the benchmark around the world.</p> <p>Pricing could instead be set by using the monthly average of a daily spot price, said three sources close to the negotiations.</p> <p>While none of the companies involved has publicly stated the precise changes being sought, several industry sources said that Japan's steelmakers are pushing for change.</p> <p>"The days of the benchmark system as we know it are dead," said a source close to the negotiations.</p> <p>Should the changes be agreed, coking coal prices would be more closely aligned to that for iron ore, the other main steel making ingredient.</p> <p>When supplies are short, as recently after a cyclone hit supply chains in Australia, miners would get a windfall.</p> <p>But miners would also be hit by low prices when supplies are plentiful and demand is weak, while the reverse would apply for steel mills.</p> <p>Japanese steelmakers led by Nippon Steel and Sumitomo Metal Corp have long resisted the idea of more flexible pricing, preferring the stability of supply under term contracts. But that is changing.</p> <p>"They want index-linked or fluctuating pricing," said a source at one of the miners. "They are tired of quarterly discussions and want more third-party assessments."</p> <p>Meanwhile, another source with ties to the miners said talks were close to setting a benchmark price of around $195 a ton as early as Friday that would apply retroactively for the second quarter of 2017. The price roughly equates to the average coking coal price during March to May.</p> <p>BHP is aligned with the Japanese steelmakers, with Chief Commercial Officer Arnoud Balhuizen telling reporters in Melbourne on Thursday: "We are not participating in quarterly benchmarks."</p> <p>"Our conversations with our customers are very constructive," Balhuizen said. "We understand, probably triggered by the recent volatility in the market, people are more and more open to not fixing prices on a quarterly basis."</p> <p>Other miners led by Glencore and Peabody are resisting the moves since they sell coal with a lower heat content that could be priced at a discount to a spot market price, sources said.</p> <p>Prices for Australian premium coking coal surged to as high as $314 a ton earlier this year after Cyclone Debbie hit Queensland. They were quoted by S&P Global Platts at $149.20 per ton on Wednesday.</p> <p>The cyclone knocked out supply chains and forced a hiatus in talks on coking coal prices that would normally be wound up by March or April. The storm also forced Japanese steelmakers to scramble for alternative supplies.</p> <p>For a graphic on how cyclone disrupts coal market IMG, click <a href="http://fingfx.thomsonreuters.com/gfx/rngs/AUSTRALIA-CYCLONE-COAL/010040F70ZD/AUSTRALIA-CYCLONE-COAL.jpg">here</a></p> <p>For a graphic on Japanese steelmakers' coking coal imports, click <a href="http://fingfx.thomsonreuters.com/gfx/rngs/JAPAN-STEEL-COAL/010040QQ1LJ/JAPAN-STEEL-COAL.jpg">here</a></p> <p>(Additional reporting by Yuka Obayashi in TOKYO and Sonali Paul in MELBOURNE; Editing by Christian Schmollinger)</p> <p><a href="http://www.reuters.com/article/us-coal-australia-japan-idUSKBN18S4T1">http://www.reuters.com/article/us-coal-australia-japan-idUSKBN18S4T1</a></p> ', 'image' => '', 'gambar' => '', 'berkas' => '', 'berkas_eng' => '', 'caption_image' => '', 'tag' => '', 'headline' => false, 'hit' => '286', 'agregasi' => false, 'published' => true, 'created' => '2017-06-06 19:36:25', 'modified' => '2017-06-06 19:36:25', 'title_eng' => 'Coking coal price talks stall as steelmakers, miners spar on contract terms', 'sub_title_eng' => '', 'description_eng' => '<p>Talks between Australian miners and Japanese steelmakers over coking coal supplies have stalled as the Japanese companies are pushing to move to more flexible arrangements from the current quarterly fixed-price terms.</p> <p>The Japanese are backed by BHP, the world's biggest producer of coking coal, a key steelmaking ingredient. However, other miners are against upending the 45-year-old fixed price settlement mechanism. Any changes could potentially further roil a market hit by wild swings recently.</p> <p>Coking coal supply contracts between Australian miners and Japanese steelmakers are accepted as the benchmark around the world.</p> <p>Pricing could instead be set by using the monthly average of a daily spot price, said three sources close to the negotiations.</p> <p>While none of the companies involved has publicly stated the precise changes being sought, several industry sources said that Japan's steelmakers are pushing for change.</p> <p>"The days of the benchmark system as we know it are dead," said a source close to the negotiations.</p> <p>Should the changes be agreed, coking coal prices would be more closely aligned to that for iron ore, the other main steel making ingredient.</p> <p>When supplies are short, as recently after a cyclone hit supply chains in Australia, miners would get a windfall.</p> <p>But miners would also be hit by low prices when supplies are plentiful and demand is weak, while the reverse would apply for steel mills.</p> <p>Japanese steelmakers led by Nippon Steel and Sumitomo Metal Corp have long resisted the idea of more flexible pricing, preferring the stability of supply under term contracts. But that is changing.</p> <p>"They want index-linked or fluctuating pricing," said a source at one of the miners. "They are tired of quarterly discussions and want more third-party assessments."</p> <p>Meanwhile, another source with ties to the miners said talks were close to setting a benchmark price of around $195 a ton as early as Friday that would apply retroactively for the second quarter of 2017. The price roughly equates to the average coking coal price during March to May.</p> <p>BHP is aligned with the Japanese steelmakers, with Chief Commercial Officer Arnoud Balhuizen telling reporters in Melbourne on Thursday: "We are not participating in quarterly benchmarks."</p> <p>"Our conversations with our customers are very constructive," Balhuizen said. "We understand, probably triggered by the recent volatility in the market, people are more and more open to not fixing prices on a quarterly basis."</p> <p>Other miners led by Glencore and Peabody are resisting the moves since they sell coal with a lower heat content that could be priced at a discount to a spot market price, sources said.</p> <p>Prices for Australian premium coking coal surged to as high as $314 a ton earlier this year after Cyclone Debbie hit Queensland. They were quoted by S&P Global Platts at $149.20 per ton on Wednesday.</p> <p>The cyclone knocked out supply chains and forced a hiatus in talks on coking coal prices that would normally be wound up by March or April. The storm also forced Japanese steelmakers to scramble for alternative supplies.</p> <p>For a graphic on how cyclone disrupts coal market IMG, click <a href="http://fingfx.thomsonreuters.com/gfx/rngs/AUSTRALIA-CYCLONE-COAL/010040F70ZD/AUSTRALIA-CYCLONE-COAL.jpg">here</a></p> <p>For a graphic on Japanese steelmakers' coking coal imports, click <a href="http://fingfx.thomsonreuters.com/gfx/rngs/JAPAN-STEEL-COAL/010040QQ1LJ/JAPAN-STEEL-COAL.jpg">here</a></p> <p>(Additional reporting by Yuka Obayashi in TOKYO and Sonali Paul in MELBOURNE; Editing by Christian Schmollinger)</p> <p><a href="http://www.reuters.com/article/us-coal-australia-japan-idUSKBN18S4T1">http://www.reuters.com/article/us-coal-australia-japan-idUSKBN18S4T1</a></p> ', 'caption_image_eng' => '' ), 'Kanal' => array( 'id' => '2', 'title' => 'News & Blog', 'description' => 'News & Blog', 'published' => true, 'title_eng' => 'News & Blog', 'description_eng' => 'News & Blog' ), 'SubKanal' => array( 'id' => '7', 'kanal_id' => '2', 'title' => 'Blog Adaro', 'description' => 'Blog Adaro', 'published' => true, 'title_eng' => 'The Adaro Blog', 'description_eng' => 'The Adaro Blog' ) ) ) $csr = array( (int) 0 => array( 'News' => array( 'id' => '1256', 'kanal_id' => '3', 'sub_kanal_id' => '11', 'user_id' => '3', 'title' => 'AE Presentation Jun 2017', 'sub_title' => '', 'tgl_post' => '2017-06-01 15:25:00', 'author' => '', 'description' => '', 'image' => '', 'gambar' => '', 'berkas' => 'AE Presentation - 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The Hong Kong-listed units of the state-owned giants, which jumped Monday, said Sunday they were notified by their parent companies of “significant” matters, while subsidiaries in Shanghai <a href="https://www.bloomberg.com/news/terminal/OR0LWJ6JTSE8" itemprop="StoryLink" itemscope="itemscope" rel="nofollow noopener" target="_blank" title="China Shenhua, GD Power to Be Halted From Shanghai Trading (1)">requested</a>trading halts. Neither parent, which have combined assets of almost 1.82 trillion yuan ($267 billion), responded to requests for comment.</p> <p>A Shenhua-Guodian tie-up is the latest proposed combination in China’s power industry and differs from an earlier plan, <a href="https://www.bloomberg.com/news/articles/2017-05-08/china-said-to-mull-3-mega-power-firms-in-855-billion-reshuffle" itemprop="StoryLink" itemscope="itemscope" target="_blank" title="China’s Coal-Power Firms Surge as Mega-Merger Said Planned (3)">reported</a> by Bloomberg last month, that would have created three energy giants through mergers of eight companies. The power industry has been <a href="https://www.bloomberg.com/news/terminal/OR1PN46JTSE8" itemprop="StoryLink" itemscope="itemscope" rel="nofollow noopener" target="_blank" title="China to Keep Focus on Coal Power, Steel in SOE Reform: Daily">targeted</a> for restructuring as President Xi Jinping tries to cut industrial overcapacity, the number of state-owned enterprises and the country’s reliance on coal, as his government seeks to rebalance the $11 trillion economy toward more consumer spending.</p> <p>“The central government has determined to reform and shrink the number of major power generators as it doesn’t want to see continued expansion of coal-fired power capacity,” said Laban Yu, head of Asia oil and gas equity research at Jefferies Group LLC in Hong Kong. “Shenhua matches well with almost anybody as their high-quality coal assets could immediately help every coal-fired generator’s bottom line.”</p> <p>Regulators had considered merging Shenhua with <a href="https://www.bloomberg.com/quote/CHDACZ:CH" itemprop="StoryLink" itemscope="itemscope" title="Company Overview">China Datang Corp.</a> and <a href="https://www.bloomberg.com/quote/CGNPCZ:CH" itemprop="StoryLink" itemscope="itemscope" title="Company Overview">China General Nuclear Power Corp.</a> That proposal -- to create three power giants out of eight coal-fired and nuclear generators with combined assets of almost 5.9 trillion yuan -- pitched Guodian together with <a href="https://www.bloomberg.com/quote/HUADIZ:CH" itemprop="StoryLink" itemscope="itemscope" title="Company Overview">China Huadian Corp.</a> and <a href="https://www.bloomberg.com/quote/CNNZ:CH" itemprop="StoryLink" itemscope="itemscope" title="Company Overview">China National Nuclear Corp.</a></p> <h3>Deepen Consolidation</h3> <p>The State-owned Assets Supervision and Administration Commission didn’t respond to a faxed request for comment Sunday. Sasac’s Chairman Xiao Yaqing said in March that the country will deepen consolidation of state-owned enterprises this year</p> <p>Shenhua had 1.014 trillion yuan in <a href="https://www.bloomberg.com/news/terminal/OQV7N66TTDSU" itemprop="StoryLink" itemscope="itemscope" rel="nofollow noopener" target="_blank" title="Shenhua Group’s Total Assets Exceed 1 Trillion Yuan at End April">assets</a> and total power generating capacity of about 83 gigawatts at the end of April, it said in a <a href="https://mp.weixin.qq.com/s/hj5xSKUaP6Q1pORXLIOz8g" itemprop="StoryLink" itemscope="itemscope" rel="nofollow noopener" target="_blank" title="Shenhua report">report</a> last week. The company produced about 290 million tons of coal <a href="https://www.bloomberg.com/news/terminal/ON1X5Q6K50XS" itemprop="StoryLink" itemscope="itemscope" rel="nofollow noopener" target="_blank" title="Shenhua Profit Rises 1st Time in 4 Years on Coal Price Surge (1)">last year</a>. Guodian at the end of 2016 had total assets of 803 billion yuan and 143 gigawatts of power-generating capacity, according to a <a href="http://www.cec.org.cn/yaowenkuaidi/2017-01-17/163848.html" itemprop="StoryLink" itemscope="itemscope" rel="nofollow noopener" target="_blank" title="CEC Website">statement</a> from the company posted by state-backed industry group China Electricity Council.</p> <p><a href="https://www.bloomberg.com/quote/1088:HK" itemprop="StoryLink" itemscope="itemscope" target="_blank" title="Year-to-Date Change">China Shenhua Energy Co. </a>said in a <a href="http://www.hkexnews.hk/listedco/listconews/SEHK/2017/0604/LTN20170604019.pdf" itemprop="StoryLink" itemscope="itemscope" rel="nofollow noopener" target="_blank" title="INSIDE INFORMATION ANNOUNCEMENT">filing</a> to the Hong Kong stock exchange Sunday that it was notified June 2 by its parent company of a significant matter that “contains substantial uncertainty which is subject to the approval of the relevant authorities.” Guodian’s Hong Kong-listed <a href="http://www.hkexnews.hk/listedco/listconews/SEHK/2017/0604/LTN20170604019.pdf" itemprop="StoryLink" itemscope="itemscope" rel="nofollow noopener" target="_blank" title="INSIDE INFORMATION ANNOUNCEMENT">China Longyuan Power Group Corp. </a>and <a href="https://www.bloomberg.com/quote/1296:HK" itemprop="StoryLink" itemscope="itemscope" target="_blank" title="Hong Kong-traded shares">Guodian Technology & Environment Group Corp.</a> issued similar statements Sunday.</p> <p>China Shenhua Energy’s <a href="https://www.bloomberg.com/quote/1088:HK" itemprop="StoryLink" itemscope="itemscope" target="_blank" title="Shenhua in HK">Hong Kong-listed</a> shares rose as much as 6.8 percent to HK$20.45 before paring gains to close up 2.7 percent at HK$19.66. China Longyuan ended up 2.6 percent, while Guodian Technology closed 17 percent higher. <a href="https://www.bloomberg.com/quote/991:HK" itemprop="StoryLink" itemscope="itemscope" target="_blank" title="Intraday Share Price">Datang International Power Generation Co.</a>, the listed unit of China Datang Corp., fell 5.1 percent. The city’s benchmark Hang Seng Index lost 0.2 percent.</p> <p><a href="https://www.bloomberg.com/news/articles/2017-06-04/china-s-shenhua-group-china-guodian-said-to-consider-merger-j3ipided">https://www.bloomberg.com/news/articles/2017-06-04/china-s-shenhua-group-china-guodian-said-to-consider-merger-j3ipided</a></p> ', 'image' => '', 'gambar' => '', 'berkas' => '', 'berkas_eng' => '', 'caption_image' => '', 'tag' => '', 'headline' => false, 'hit' => '293', 'agregasi' => false, 'published' => true, 'created' => '2017-06-06 19:41:53', 'modified' => '2017-06-06 19:41:53', 'title_eng' => 'Shenhua, China Guodian Said to Mull $267 Billion Power Giant', 'sub_title_eng' => '', 'description_eng' => '<p><a href="https://www.bloomberg.com/quote/SHGCLZ:CH" itemprop="StoryLink" itemscope="itemscope" title="Company Overview">Shenhua Group Corp.</a>, China’s biggest coal miner, and <a href="https://www.bloomberg.com/quote/CNEPGZ:CH" itemprop="StoryLink" itemscope="itemscope" title="Company Overview">China Guodian Corp.</a>, one of the nation’s largest coal-fired power generators, are in merger discussions, according to people with knowledge of the matter.</p> <p>The talks are preliminary and the merger may not go ahead, said the people, who asked not to be identified as the information isn’t public. The Hong Kong-listed units of the state-owned giants, which jumped Monday, said Sunday they were notified by their parent companies of “significant” matters, while subsidiaries in Shanghai <a href="https://www.bloomberg.com/news/terminal/OR0LWJ6JTSE8" itemprop="StoryLink" itemscope="itemscope" rel="nofollow noopener" target="_blank" title="China Shenhua, GD Power to Be Halted From Shanghai Trading (1)">requested</a>trading halts. Neither parent, which have combined assets of almost 1.82 trillion yuan ($267 billion), responded to requests for comment.</p> <p>A Shenhua-Guodian tie-up is the latest proposed combination in China’s power industry and differs from an earlier plan, <a href="https://www.bloomberg.com/news/articles/2017-05-08/china-said-to-mull-3-mega-power-firms-in-855-billion-reshuffle" itemprop="StoryLink" itemscope="itemscope" target="_blank" title="China’s Coal-Power Firms Surge as Mega-Merger Said Planned (3)">reported</a> by Bloomberg last month, that would have created three energy giants through mergers of eight companies. The power industry has been <a href="https://www.bloomberg.com/news/terminal/OR1PN46JTSE8" itemprop="StoryLink" itemscope="itemscope" rel="nofollow noopener" target="_blank" title="China to Keep Focus on Coal Power, Steel in SOE Reform: Daily">targeted</a> for restructuring as President Xi Jinping tries to cut industrial overcapacity, the number of state-owned enterprises and the country’s reliance on coal, as his government seeks to rebalance the $11 trillion economy toward more consumer spending.</p> <p>“The central government has determined to reform and shrink the number of major power generators as it doesn’t want to see continued expansion of coal-fired power capacity,” said Laban Yu, head of Asia oil and gas equity research at Jefferies Group LLC in Hong Kong. “Shenhua matches well with almost anybody as their high-quality coal assets could immediately help every coal-fired generator’s bottom line.”</p> <p>Regulators had considered merging Shenhua with <a href="https://www.bloomberg.com/quote/CHDACZ:CH" itemprop="StoryLink" itemscope="itemscope" title="Company Overview">China Datang Corp.</a> and <a href="https://www.bloomberg.com/quote/CGNPCZ:CH" itemprop="StoryLink" itemscope="itemscope" title="Company Overview">China General Nuclear Power Corp.</a> That proposal -- to create three power giants out of eight coal-fired and nuclear generators with combined assets of almost 5.9 trillion yuan -- pitched Guodian together with <a href="https://www.bloomberg.com/quote/HUADIZ:CH" itemprop="StoryLink" itemscope="itemscope" title="Company Overview">China Huadian Corp.</a> and <a href="https://www.bloomberg.com/quote/CNNZ:CH" itemprop="StoryLink" itemscope="itemscope" title="Company Overview">China National Nuclear Corp.</a></p> <h3>Deepen Consolidation</h3> <p>The State-owned Assets Supervision and Administration Commission didn’t respond to a faxed request for comment Sunday. Sasac’s Chairman Xiao Yaqing said in March that the country will deepen consolidation of state-owned enterprises this year</p> <p>Shenhua had 1.014 trillion yuan in <a href="https://www.bloomberg.com/news/terminal/OQV7N66TTDSU" itemprop="StoryLink" itemscope="itemscope" rel="nofollow noopener" target="_blank" title="Shenhua Group’s Total Assets Exceed 1 Trillion Yuan at End April">assets</a> and total power generating capacity of about 83 gigawatts at the end of April, it said in a <a href="https://mp.weixin.qq.com/s/hj5xSKUaP6Q1pORXLIOz8g" itemprop="StoryLink" itemscope="itemscope" rel="nofollow noopener" target="_blank" title="Shenhua report">report</a> last week. The company produced about 290 million tons of coal <a href="https://www.bloomberg.com/news/terminal/ON1X5Q6K50XS" itemprop="StoryLink" itemscope="itemscope" rel="nofollow noopener" target="_blank" title="Shenhua Profit Rises 1st Time in 4 Years on Coal Price Surge (1)">last year</a>. Guodian at the end of 2016 had total assets of 803 billion yuan and 143 gigawatts of power-generating capacity, according to a <a href="http://www.cec.org.cn/yaowenkuaidi/2017-01-17/163848.html" itemprop="StoryLink" itemscope="itemscope" rel="nofollow noopener" target="_blank" title="CEC Website">statement</a> from the company posted by state-backed industry group China Electricity Council.</p> <p><a href="https://www.bloomberg.com/quote/1088:HK" itemprop="StoryLink" itemscope="itemscope" target="_blank" title="Year-to-Date Change">China Shenhua Energy Co. </a>said in a <a href="http://www.hkexnews.hk/listedco/listconews/SEHK/2017/0604/LTN20170604019.pdf" itemprop="StoryLink" itemscope="itemscope" rel="nofollow noopener" target="_blank" title="INSIDE INFORMATION ANNOUNCEMENT">filing</a> to the Hong Kong stock exchange Sunday that it was notified June 2 by its parent company of a significant matter that “contains substantial uncertainty which is subject to the approval of the relevant authorities.” Guodian’s Hong Kong-listed <a href="http://www.hkexnews.hk/listedco/listconews/SEHK/2017/0604/LTN20170604019.pdf" itemprop="StoryLink" itemscope="itemscope" rel="nofollow noopener" target="_blank" title="INSIDE INFORMATION ANNOUNCEMENT">China Longyuan Power Group Corp. </a>and <a href="https://www.bloomberg.com/quote/1296:HK" itemprop="StoryLink" itemscope="itemscope" target="_blank" title="Hong Kong-traded shares">Guodian Technology & Environment Group Corp.</a> issued similar statements Sunday.</p> <p>China Shenhua Energy’s <a href="https://www.bloomberg.com/quote/1088:HK" itemprop="StoryLink" itemscope="itemscope" target="_blank" title="Shenhua in HK">Hong Kong-listed</a> shares rose as much as 6.8 percent to HK$20.45 before paring gains to close up 2.7 percent at HK$19.66. China Longyuan ended up 2.6 percent, while Guodian Technology closed 17 percent higher. <a href="https://www.bloomberg.com/quote/991:HK" itemprop="StoryLink" itemscope="itemscope" target="_blank" title="Intraday Share Price">Datang International Power Generation Co.</a>, the listed unit of China Datang Corp., fell 5.1 percent. The city’s benchmark Hang Seng Index lost 0.2 percent.</p> <p><a href="https://www.bloomberg.com/news/articles/2017-06-04/china-s-shenhua-group-china-guodian-said-to-consider-merger-j3ipided">https://www.bloomberg.com/news/articles/2017-06-04/china-s-shenhua-group-china-guodian-said-to-consider-merger-j3ipided</a></p> ', 'caption_image_eng' => '' ), 'Kanal' => array( 'id' => '2', 'title' => 'News & Blog', 'description' => 'News & Blog', 'published' => true, 'title_eng' => 'News & Blog', 'description_eng' => 'News & Blog' ), 'SubKanal' => array( 'id' => '7', 'kanal_id' => '2', 'title' => 'Blog Adaro', 'description' => 'Blog Adaro', 'published' => true, 'title_eng' => 'The Adaro Blog', 'description_eng' => 'The Adaro Blog' ) ), (int) 1 => array( 'News' => array( 'id' => '1254', 'kanal_id' => '2', 'sub_kanal_id' => '7', 'user_id' => '5', 'title' => 'Coal's Future in India', 'sub_title' => '', 'tgl_post' => '2017-06-02 19:36:00', 'author' => '', 'description' => '<p>The Indian trading house Adani Resources Ltd. has just reached an agreement with the Queensland government on royalty payments for the <a data-web-url="http://www.adaniaustralia.com/businesses/carmichael-coal-mine-and-rail-project" href="http://www.adaniaustralia.com/businesses/carmichael-coal-mine-and-rail-project" rel="nofollow noopener" target="_blank">Carmichael coal mine</a>, which the company is considering building in northeastern Australia. As one of the largest thermal coal mines in the world, it would exert a country-sized impact on global carbon emissions during its 60-year life. As the company decides whether to go ahead, it will need to keep in mind three relevant energy trends.</p> <p>First, Australian coal remains cheaper than natural gas – but not hugely so. Since 2011, coal has been as high as $5.38 per million British thermal units and gas as high as $13.96/MMBtu. However, since 2014, gas has fallen below coal’s peak prices. Thanks to <a href="https://www.bloomberg.com/news/terminal/OOQA1O6S9728" rel="nofollow noopener" target="_blank">U.S. exports</a>, the world may soon be flooded with natural gas, and that means gas prices aren’t likely to be spiking upward.</p> <figure align="center" data-align="center" data-chart-type="line" data-id="314090765" data-image-type="chart" data-thumbnail="https://assets.bwbx.io/images/users/iqjWHBFdfxIU/idWMG5O8SgWc/v1/460x260.png" data-type="image"> <h3>Asian Gas Plunges, But Coal Is Still Cheaper</h3> <p> </p> <p>Second, in the past year, the cost of solar generation in India has fallen by more than half. The country’s competitive auctions for solar power have pushed prices below 2.5 rupees ($0.04) per kilowatt-hour. While much experience with energy auctions has taught Bloomberg New Energy Finance to be skeptical of ultra-low bids, the trend is important. Solar is cheap and getting cheaper, and at a certain point it becomes hard to turn down as a marginal unit of new power generation.</p> <figure align="center" data-align="center" data-chart-type="line" data-id="314094338" data-image-type="chart" data-thumbnail="https://assets.bwbx.io/images/users/iqjWHBFdfxIU/i8JYTBimGCuw/v1/460x260.png" data-type="image"> <h3>Down by Half</h3> <p> </p> <p>The third trend has to do with the broader energy market in India. Solar at 4 cents undercuts the cost of other major generation sources. By BNEF’s calculations of the so-called levelized cost of energy <a href="https://www.bloomberg.com/view/articles/2017-06-02/coal-s-future-in-india#footnote-1496350575632">1</a> , solar has become significantly cheaper than new gas and coal-fired power. (Oh, and wind is also slightly cheaper than coal.)</p> <figure align="center" data-align="center" data-chart-type="bar" data-id="314094445" data-image-type="chart" data-thumbnail="https://assets.bwbx.io/images/users/iqjWHBFdfxIU/ibgsc.5bFSDM/v1/460x260.png" data-type="image"> <h3>Solar Prices Lowest</h3> <p> </p> <p>As my colleagues say in a <a href="https://www.bloomberg.com/news/terminal/OQ3QDM6TTDS2" rel="nofollow noopener" target="_blank">research note</a>, “Cheap and plentiful PV could lead to a strategic rethink on how India meets its future demand for electricity.” And analysts aren’t the only ones who think so. <a href="https://www.bloomberg.com/news/articles/2017-06-01/cheaper-solar-in-india-prompts-rethink-for-more-coal-projects" target="_blank">Indian power market players</a> also say that solar’s cost trend may limit the expansion of conventional power generation.</p> <p>To be sure, coal-fired power is in India to stay. It will probably even increase in absolute terms as electrification expands with the economy. At the same time, India’s domestic coal production is increasing, pushing its prices down about 10 percent lower than those of Australian imports. This differential might not be an issue for Adani Enterprises, which intends to export only to its own power projects on the coasts, where imports are still cheaper than domestic supply. But new infrastructure connecting inland Indian mines to the coasts could change that math during the lifetime of the Carmichael mine.</p> <p>Imported coal today faces cost competition from natural gas, renewables and domestically mined coal. It’s a dynamic market that presents challenges for the Adani board as it decides whether to invest in a 60-year asset.</p> <p>Weekend reads</p> <ul> <li>The two largest coal-fired power plants in New Jersey <a data-web-url="http://www.philly.com/philly/business/energy/pseg-shuts-down-its-last-n-j-coal-plants-its-just-economics-20170530.html" href="http://www.philly.com/philly/business/energy/pseg-shuts-down-its-last-n-j-coal-plants-its-just-economics-20170530.html" rel="nofollow noopener" target="_blank">shut down for good</a> June 1.</li> <li>The <a data-web-url="http://www.heraldnews.com/news/20170530/brayton-point-powers-down" href="http://www.heraldnews.com/news/20170530/brayton-point-powers-down" rel="nofollow noopener" target="_blank">last coal plant in Massachusetts</a> closed May 31 – and with it, <a data-web-url="https://www.eenews.net/stories/1060055243" href="https://www.eenews.net/stories/1060055243" rel="nofollow noopener" target="_blank">coal has disappeared from New England</a>.</li> <li>Gadfly’s David Fickling on an Exxon Mobil shareholder vote that shows how <a href="https://www.bloomberg.com/gadfly/articles/2017-06-01/funds-fire-up-real-climate-change" target="_blank">funds fire up real climate change</a>.</li> <li>Colorado’s utility regulators will require the state’s largest power company to <a data-web-url="http://www.denverpost.com/2017/05/28/colorado-utility-regulators-carbon-emission-xcel-energy/" href="http://www.denverpost.com/2017/05/28/colorado-utility-regulators-carbon-emission-xcel-energy/" rel="nofollow noopener" target="_blank">price the effects</a> of its carbon emissions.</li> <li>U.S. insurance and re-insurance <a data-web-url="http://www.artemis.bm/blog/2017/05/31/u-s-convective-storm-reinsurance-losses-hit-11bn-in-2017-ytd/" href="http://www.artemis.bm/blog/2017/05/31/u-s-convective-storm-reinsurance-losses-hit-11bn-in-2017-ytd/" rel="nofollow noopener" target="_blank">losses from severe storms have passed $10 billion</a>for the 10th consecutive year … and it’s only May.</li> <li>Mary Meeker of the venture capital firm Kleiner Perkins is out with her <a data-web-url="http://www.kpcb.com/internet-trends" href="http://www.kpcb.com/internet-trends" rel="nofollow noopener" target="_blank">latest Internet Trends report</a>, all 355 slides of it.</li> <li>A survey of artificial-intelligence researchers shows that most <a data-web-url="https://www.technologyreview.com/s/607970/experts-predict-when-artificial-intelligence-will-exceed-human-performance/" href="https://www.technologyreview.com/s/607970/experts-predict-when-artificial-intelligence-will-exceed-human-performance/" rel="nofollow noopener" target="_blank">expect machines to exceed humans in about 45 years</a> – coincidentally, about the length of a working life.</li> <li>Economist Brad DeLong says that “the <a data-web-url="http://equitablegrowth.org/equitablog/delong-the-future-of-work-automation-and-labor-inclusive-ai-technology-and-policy-for-a-diverse-human-future/" href="http://equitablegrowth.org/equitablog/delong-the-future-of-work-automation-and-labor-inclusive-ai-technology-and-policy-for-a-diverse-human-future/" rel="nofollow noopener" target="_blank">combination of coming AI with a market economy</a> will be absolute poison for equity and equitable growth.”</li> <li>Venture capitalist Marc Andreessen says that self-driving cars will <a data-web-url="https://www.recode.net/2017/5/30/15693382/marc-andreessen-automation-jobs-code-2017" href="https://www.recode.net/2017/5/30/15693382/marc-andreessen-automation-jobs-code-2017" rel="nofollow noopener" target="_blank">create many more jobs than they eliminate</a>.</li> </ul> <p style="text-align: justify;"><a href="https://www.bloomberg.com/view/articles/2017-06-02/coal-s-future-in-india">https://www.bloomberg.com/view/articles/2017-06-02/coal-s-future-in-india</a></p> </figure> </figure> </figure> ', 'image' => '', 'gambar' => '', 'berkas' => '', 'berkas_eng' => '', 'caption_image' => '', 'tag' => '', 'headline' => false, 'hit' => '323', 'agregasi' => false, 'published' => true, 'created' => '2017-06-06 19:40:11', 'modified' => '2017-06-06 19:40:11', 'title_eng' => 'Coal's Future in India', 'sub_title_eng' => '', 'description_eng' => '<p>The Indian trading house Adani Resources Ltd. has just reached an agreement with the Queensland government on royalty payments for the <a data-web-url="http://www.adaniaustralia.com/businesses/carmichael-coal-mine-and-rail-project" href="http://www.adaniaustralia.com/businesses/carmichael-coal-mine-and-rail-project" rel="nofollow noopener" target="_blank">Carmichael coal mine</a>, which the company is considering building in northeastern Australia. As one of the largest thermal coal mines in the world, it would exert a country-sized impact on global carbon emissions during its 60-year life. As the company decides whether to go ahead, it will need to keep in mind three relevant energy trends.</p> <p>First, Australian coal remains cheaper than natural gas – but not hugely so. Since 2011, coal has been as high as $5.38 per million British thermal units and gas as high as $13.96/MMBtu. However, since 2014, gas has fallen below coal’s peak prices. Thanks to <a href="https://www.bloomberg.com/news/terminal/OOQA1O6S9728" rel="nofollow noopener" target="_blank">U.S. exports</a>, the world may soon be flooded with natural gas, and that means gas prices aren’t likely to be spiking upward.</p> <figure align="center" data-align="center" data-chart-type="line" data-id="314090765" data-image-type="chart" data-thumbnail="https://assets.bwbx.io/images/users/iqjWHBFdfxIU/idWMG5O8SgWc/v1/460x260.png" data-type="image"> <h3>Asian Gas Plunges, But Coal Is Still Cheaper</h3> <p> </p> <p>Second, in the past year, the cost of solar generation in India has fallen by more than half. The country’s competitive auctions for solar power have pushed prices below 2.5 rupees ($0.04) per kilowatt-hour. While much experience with energy auctions has taught Bloomberg New Energy Finance to be skeptical of ultra-low bids, the trend is important. Solar is cheap and getting cheaper, and at a certain point it becomes hard to turn down as a marginal unit of new power generation.</p> <figure align="center" data-align="center" data-chart-type="line" data-id="314094338" data-image-type="chart" data-thumbnail="https://assets.bwbx.io/images/users/iqjWHBFdfxIU/i8JYTBimGCuw/v1/460x260.png" data-type="image"> <h3>Down by Half</h3> <p> </p> <p>The third trend has to do with the broader energy market in India. Solar at 4 cents undercuts the cost of other major generation sources. By BNEF’s calculations of the so-called levelized cost of energy <a href="https://www.bloomberg.com/view/articles/2017-06-02/coal-s-future-in-india#footnote-1496350575632">1</a> , solar has become significantly cheaper than new gas and coal-fired power. (Oh, and wind is also slightly cheaper than coal.)</p> <figure align="center" data-align="center" data-chart-type="bar" data-id="314094445" data-image-type="chart" data-thumbnail="https://assets.bwbx.io/images/users/iqjWHBFdfxIU/ibgsc.5bFSDM/v1/460x260.png" data-type="image"> <h3>Solar Prices Lowest</h3> <p> </p> <p>As my colleagues say in a <a href="https://www.bloomberg.com/news/terminal/OQ3QDM6TTDS2" rel="nofollow noopener" target="_blank">research note</a>, “Cheap and plentiful PV could lead to a strategic rethink on how India meets its future demand for electricity.” And analysts aren’t the only ones who think so. <a href="https://www.bloomberg.com/news/articles/2017-06-01/cheaper-solar-in-india-prompts-rethink-for-more-coal-projects" target="_blank">Indian power market players</a> also say that solar’s cost trend may limit the expansion of conventional power generation.</p> <p>To be sure, coal-fired power is in India to stay. It will probably even increase in absolute terms as electrification expands with the economy. At the same time, India’s domestic coal production is increasing, pushing its prices down about 10 percent lower than those of Australian imports. This differential might not be an issue for Adani Enterprises, which intends to export only to its own power projects on the coasts, where imports are still cheaper than domestic supply. But new infrastructure connecting inland Indian mines to the coasts could change that math during the lifetime of the Carmichael mine.</p> <p>Imported coal today faces cost competition from natural gas, renewables and domestically mined coal. It’s a dynamic market that presents challenges for the Adani board as it decides whether to invest in a 60-year asset.</p> <p>Weekend reads</p> <ul> <li>The two largest coal-fired power plants in New Jersey <a data-web-url="http://www.philly.com/philly/business/energy/pseg-shuts-down-its-last-n-j-coal-plants-its-just-economics-20170530.html" href="http://www.philly.com/philly/business/energy/pseg-shuts-down-its-last-n-j-coal-plants-its-just-economics-20170530.html" rel="nofollow noopener" target="_blank">shut down for good</a> June 1.</li> <li>The <a data-web-url="http://www.heraldnews.com/news/20170530/brayton-point-powers-down" href="http://www.heraldnews.com/news/20170530/brayton-point-powers-down" rel="nofollow noopener" target="_blank">last coal plant in Massachusetts</a> closed May 31 – and with it, <a data-web-url="https://www.eenews.net/stories/1060055243" href="https://www.eenews.net/stories/1060055243" rel="nofollow noopener" target="_blank">coal has disappeared from New England</a>.</li> <li>Gadfly’s David Fickling on an Exxon Mobil shareholder vote that shows how <a href="https://www.bloomberg.com/gadfly/articles/2017-06-01/funds-fire-up-real-climate-change" target="_blank">funds fire up real climate change</a>.</li> <li>Colorado’s utility regulators will require the state’s largest power company to <a data-web-url="http://www.denverpost.com/2017/05/28/colorado-utility-regulators-carbon-emission-xcel-energy/" href="http://www.denverpost.com/2017/05/28/colorado-utility-regulators-carbon-emission-xcel-energy/" rel="nofollow noopener" target="_blank">price the effects</a> of its carbon emissions.</li> <li>U.S. insurance and re-insurance <a data-web-url="http://www.artemis.bm/blog/2017/05/31/u-s-convective-storm-reinsurance-losses-hit-11bn-in-2017-ytd/" href="http://www.artemis.bm/blog/2017/05/31/u-s-convective-storm-reinsurance-losses-hit-11bn-in-2017-ytd/" rel="nofollow noopener" target="_blank">losses from severe storms have passed $10 billion</a>for the 10th consecutive year … and it’s only May.</li> <li>Mary Meeker of the venture capital firm Kleiner Perkins is out with her <a data-web-url="http://www.kpcb.com/internet-trends" href="http://www.kpcb.com/internet-trends" rel="nofollow noopener" target="_blank">latest Internet Trends report</a>, all 355 slides of it.</li> <li>A survey of artificial-intelligence researchers shows that most <a data-web-url="https://www.technologyreview.com/s/607970/experts-predict-when-artificial-intelligence-will-exceed-human-performance/" href="https://www.technologyreview.com/s/607970/experts-predict-when-artificial-intelligence-will-exceed-human-performance/" rel="nofollow noopener" target="_blank">expect machines to exceed humans in about 45 years</a> – coincidentally, about the length of a working life.</li> <li>Economist Brad DeLong says that “the <a data-web-url="http://equitablegrowth.org/equitablog/delong-the-future-of-work-automation-and-labor-inclusive-ai-technology-and-policy-for-a-diverse-human-future/" href="http://equitablegrowth.org/equitablog/delong-the-future-of-work-automation-and-labor-inclusive-ai-technology-and-policy-for-a-diverse-human-future/" rel="nofollow noopener" target="_blank">combination of coming AI with a market economy</a> will be absolute poison for equity and equitable growth.”</li> <li>Venture capitalist Marc Andreessen says that self-driving cars will <a data-web-url="https://www.recode.net/2017/5/30/15693382/marc-andreessen-automation-jobs-code-2017" href="https://www.recode.net/2017/5/30/15693382/marc-andreessen-automation-jobs-code-2017" rel="nofollow noopener" target="_blank">create many more jobs than they eliminate</a>.</li> </ul> <p style="text-align: justify;"><a href="https://www.bloomberg.com/view/articles/2017-06-02/coal-s-future-in-india">https://www.bloomberg.com/view/articles/2017-06-02/coal-s-future-in-india</a></p> </figure> </figure> </figure> ', 'caption_image_eng' => '' ), 'Kanal' => array( 'id' => '2', 'title' => 'News & Blog', 'description' => 'News & Blog', 'published' => true, 'title_eng' => 'News & Blog', 'description_eng' => 'News & Blog' ), 'SubKanal' => array( 'id' => '7', 'kanal_id' => '2', 'title' => 'Blog Adaro', 'description' => 'Blog Adaro', 'published' => true, 'title_eng' => 'The Adaro Blog', 'description_eng' => 'The Adaro Blog' ) ), (int) 2 => array( 'News' => array( 'id' => '1253', 'kanal_id' => '2', 'sub_kanal_id' => '7', 'user_id' => '5', 'title' => 'Coking coal price talks stall as steelmakers, miners spar on contract terms', 'sub_title' => '', 'tgl_post' => '2017-06-01 19:34:00', 'author' => '', 'description' => '<p>Talks between Australian miners and Japanese steelmakers over coking coal supplies have stalled as the Japanese companies are pushing to move to more flexible arrangements from the current quarterly fixed-price terms.</p> <p>The Japanese are backed by BHP, the world's biggest producer of coking coal, a key steelmaking ingredient. However, other miners are against upending the 45-year-old fixed price settlement mechanism. Any changes could potentially further roil a market hit by wild swings recently.</p> <p>Coking coal supply contracts between Australian miners and Japanese steelmakers are accepted as the benchmark around the world.</p> <p>Pricing could instead be set by using the monthly average of a daily spot price, said three sources close to the negotiations.</p> <p>While none of the companies involved has publicly stated the precise changes being sought, several industry sources said that Japan's steelmakers are pushing for change.</p> <p>"The days of the benchmark system as we know it are dead," said a source close to the negotiations.</p> <p>Should the changes be agreed, coking coal prices would be more closely aligned to that for iron ore, the other main steel making ingredient.</p> <p>When supplies are short, as recently after a cyclone hit supply chains in Australia, miners would get a windfall.</p> <p>But miners would also be hit by low prices when supplies are plentiful and demand is weak, while the reverse would apply for steel mills.</p> <p>Japanese steelmakers led by Nippon Steel and Sumitomo Metal Corp have long resisted the idea of more flexible pricing, preferring the stability of supply under term contracts. But that is changing.</p> <p>"They want index-linked or fluctuating pricing," said a source at one of the miners. "They are tired of quarterly discussions and want more third-party assessments."</p> <p>Meanwhile, another source with ties to the miners said talks were close to setting a benchmark price of around $195 a ton as early as Friday that would apply retroactively for the second quarter of 2017. The price roughly equates to the average coking coal price during March to May.</p> <p>BHP is aligned with the Japanese steelmakers, with Chief Commercial Officer Arnoud Balhuizen telling reporters in Melbourne on Thursday: "We are not participating in quarterly benchmarks."</p> <p>"Our conversations with our customers are very constructive," Balhuizen said. "We understand, probably triggered by the recent volatility in the market, people are more and more open to not fixing prices on a quarterly basis."</p> <p>Other miners led by Glencore and Peabody are resisting the moves since they sell coal with a lower heat content that could be priced at a discount to a spot market price, sources said.</p> <p>Prices for Australian premium coking coal surged to as high as $314 a ton earlier this year after Cyclone Debbie hit Queensland. They were quoted by S&P Global Platts at $149.20 per ton on Wednesday.</p> <p>The cyclone knocked out supply chains and forced a hiatus in talks on coking coal prices that would normally be wound up by March or April. The storm also forced Japanese steelmakers to scramble for alternative supplies.</p> <p>For a graphic on how cyclone disrupts coal market IMG, click <a href="http://fingfx.thomsonreuters.com/gfx/rngs/AUSTRALIA-CYCLONE-COAL/010040F70ZD/AUSTRALIA-CYCLONE-COAL.jpg">here</a></p> <p>For a graphic on Japanese steelmakers' coking coal imports, click <a href="http://fingfx.thomsonreuters.com/gfx/rngs/JAPAN-STEEL-COAL/010040QQ1LJ/JAPAN-STEEL-COAL.jpg">here</a></p> <p>(Additional reporting by Yuka Obayashi in TOKYO and Sonali Paul in MELBOURNE; Editing by Christian Schmollinger)</p> <p><a href="http://www.reuters.com/article/us-coal-australia-japan-idUSKBN18S4T1">http://www.reuters.com/article/us-coal-australia-japan-idUSKBN18S4T1</a></p> ', 'image' => '', 'gambar' => '', 'berkas' => '', 'berkas_eng' => '', 'caption_image' => '', 'tag' => '', 'headline' => false, 'hit' => '286', 'agregasi' => false, 'published' => true, 'created' => '2017-06-06 19:36:25', 'modified' => '2017-06-06 19:36:25', 'title_eng' => 'Coking coal price talks stall as steelmakers, miners spar on contract terms', 'sub_title_eng' => '', 'description_eng' => '<p>Talks between Australian miners and Japanese steelmakers over coking coal supplies have stalled as the Japanese companies are pushing to move to more flexible arrangements from the current quarterly fixed-price terms.</p> <p>The Japanese are backed by BHP, the world's biggest producer of coking coal, a key steelmaking ingredient. However, other miners are against upending the 45-year-old fixed price settlement mechanism. Any changes could potentially further roil a market hit by wild swings recently.</p> <p>Coking coal supply contracts between Australian miners and Japanese steelmakers are accepted as the benchmark around the world.</p> <p>Pricing could instead be set by using the monthly average of a daily spot price, said three sources close to the negotiations.</p> <p>While none of the companies involved has publicly stated the precise changes being sought, several industry sources said that Japan's steelmakers are pushing for change.</p> <p>"The days of the benchmark system as we know it are dead," said a source close to the negotiations.</p> <p>Should the changes be agreed, coking coal prices would be more closely aligned to that for iron ore, the other main steel making ingredient.</p> <p>When supplies are short, as recently after a cyclone hit supply chains in Australia, miners would get a windfall.</p> <p>But miners would also be hit by low prices when supplies are plentiful and demand is weak, while the reverse would apply for steel mills.</p> <p>Japanese steelmakers led by Nippon Steel and Sumitomo Metal Corp have long resisted the idea of more flexible pricing, preferring the stability of supply under term contracts. But that is changing.</p> <p>"They want index-linked or fluctuating pricing," said a source at one of the miners. "They are tired of quarterly discussions and want more third-party assessments."</p> <p>Meanwhile, another source with ties to the miners said talks were close to setting a benchmark price of around $195 a ton as early as Friday that would apply retroactively for the second quarter of 2017. The price roughly equates to the average coking coal price during March to May.</p> <p>BHP is aligned with the Japanese steelmakers, with Chief Commercial Officer Arnoud Balhuizen telling reporters in Melbourne on Thursday: "We are not participating in quarterly benchmarks."</p> <p>"Our conversations with our customers are very constructive," Balhuizen said. "We understand, probably triggered by the recent volatility in the market, people are more and more open to not fixing prices on a quarterly basis."</p> <p>Other miners led by Glencore and Peabody are resisting the moves since they sell coal with a lower heat content that could be priced at a discount to a spot market price, sources said.</p> <p>Prices for Australian premium coking coal surged to as high as $314 a ton earlier this year after Cyclone Debbie hit Queensland. They were quoted by S&P Global Platts at $149.20 per ton on Wednesday.</p> <p>The cyclone knocked out supply chains and forced a hiatus in talks on coking coal prices that would normally be wound up by March or April. The storm also forced Japanese steelmakers to scramble for alternative supplies.</p> <p>For a graphic on how cyclone disrupts coal market IMG, click <a href="http://fingfx.thomsonreuters.com/gfx/rngs/AUSTRALIA-CYCLONE-COAL/010040F70ZD/AUSTRALIA-CYCLONE-COAL.jpg">here</a></p> <p>For a graphic on Japanese steelmakers' coking coal imports, click <a href="http://fingfx.thomsonreuters.com/gfx/rngs/JAPAN-STEEL-COAL/010040QQ1LJ/JAPAN-STEEL-COAL.jpg">here</a></p> <p>(Additional reporting by Yuka Obayashi in TOKYO and Sonali Paul in MELBOURNE; Editing by Christian Schmollinger)</p> <p><a href="http://www.reuters.com/article/us-coal-australia-japan-idUSKBN18S4T1">http://www.reuters.com/article/us-coal-australia-japan-idUSKBN18S4T1</a></p> ', 'caption_image_eng' => '' ), 'Kanal' => array( 'id' => '2', 'title' => 'News & Blog', 'description' => 'News & Blog', 'published' => true, 'title_eng' => 'News & Blog', 'description_eng' => 'News & Blog' ), 'SubKanal' => array( 'id' => '7', 'kanal_id' => '2', 'title' => 'Blog Adaro', 'description' => 'Blog Adaro', 'published' => true, 'title_eng' => 'The Adaro Blog', 'description_eng' => 'The Adaro Blog' ) ) ) $csr = array( (int) 0 => array( 'News' => array( 'id' => '1256', 'kanal_id' => '3', 'sub_kanal_id' => '11', 'user_id' => '3', 'title' => 'AE Presentation Jun 2017', 'sub_title' => '', 'tgl_post' => '2017-06-01 15:25:00', 'author' => '', 'description' => '', 'image' => '', 'gambar' => '', 'berkas' => 'AE Presentation - 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The Hong Kong-listed units of the state-owned giants, which jumped Monday, said Sunday they were notified by their parent companies of “significant” matters, while subsidiaries in Shanghai <a href="https://www.bloomberg.com/news/terminal/OR0LWJ6JTSE8" itemprop="StoryLink" itemscope="itemscope" rel="nofollow noopener" target="_blank" title="China Shenhua, GD Power to Be Halted From Shanghai Trading (1)">requested</a>trading halts. Neither parent, which have combined assets of almost 1.82 trillion yuan ($267 billion), responded to requests for comment.</p> <p>A Shenhua-Guodian tie-up is the latest proposed combination in China’s power industry and differs from an earlier plan, <a href="https://www.bloomberg.com/news/articles/2017-05-08/china-said-to-mull-3-mega-power-firms-in-855-billion-reshuffle" itemprop="StoryLink" itemscope="itemscope" target="_blank" title="China’s Coal-Power Firms Surge as Mega-Merger Said Planned (3)">reported</a> by Bloomberg last month, that would have created three energy giants through mergers of eight companies. The power industry has been <a href="https://www.bloomberg.com/news/terminal/OR1PN46JTSE8" itemprop="StoryLink" itemscope="itemscope" rel="nofollow noopener" target="_blank" title="China to Keep Focus on Coal Power, Steel in SOE Reform: Daily">targeted</a> for restructuring as President Xi Jinping tries to cut industrial overcapacity, the number of state-owned enterprises and the country’s reliance on coal, as his government seeks to rebalance the $11 trillion economy toward more consumer spending.</p> <p>“The central government has determined to reform and shrink the number of major power generators as it doesn’t want to see continued expansion of coal-fired power capacity,” said Laban Yu, head of Asia oil and gas equity research at Jefferies Group LLC in Hong Kong. “Shenhua matches well with almost anybody as their high-quality coal assets could immediately help every coal-fired generator’s bottom line.”</p> <p>Regulators had considered merging Shenhua with <a href="https://www.bloomberg.com/quote/CHDACZ:CH" itemprop="StoryLink" itemscope="itemscope" title="Company Overview">China Datang Corp.</a> and <a href="https://www.bloomberg.com/quote/CGNPCZ:CH" itemprop="StoryLink" itemscope="itemscope" title="Company Overview">China General Nuclear Power Corp.</a> That proposal -- to create three power giants out of eight coal-fired and nuclear generators with combined assets of almost 5.9 trillion yuan -- pitched Guodian together with <a href="https://www.bloomberg.com/quote/HUADIZ:CH" itemprop="StoryLink" itemscope="itemscope" title="Company Overview">China Huadian Corp.</a> and <a href="https://www.bloomberg.com/quote/CNNZ:CH" itemprop="StoryLink" itemscope="itemscope" title="Company Overview">China National Nuclear Corp.</a></p> <h3>Deepen Consolidation</h3> <p>The State-owned Assets Supervision and Administration Commission didn’t respond to a faxed request for comment Sunday. Sasac’s Chairman Xiao Yaqing said in March that the country will deepen consolidation of state-owned enterprises this year</p> <p>Shenhua had 1.014 trillion yuan in <a href="https://www.bloomberg.com/news/terminal/OQV7N66TTDSU" itemprop="StoryLink" itemscope="itemscope" rel="nofollow noopener" target="_blank" title="Shenhua Group’s Total Assets Exceed 1 Trillion Yuan at End April">assets</a> and total power generating capacity of about 83 gigawatts at the end of April, it said in a <a href="https://mp.weixin.qq.com/s/hj5xSKUaP6Q1pORXLIOz8g" itemprop="StoryLink" itemscope="itemscope" rel="nofollow noopener" target="_blank" title="Shenhua report">report</a> last week. The company produced about 290 million tons of coal <a href="https://www.bloomberg.com/news/terminal/ON1X5Q6K50XS" itemprop="StoryLink" itemscope="itemscope" rel="nofollow noopener" target="_blank" title="Shenhua Profit Rises 1st Time in 4 Years on Coal Price Surge (1)">last year</a>. Guodian at the end of 2016 had total assets of 803 billion yuan and 143 gigawatts of power-generating capacity, according to a <a href="http://www.cec.org.cn/yaowenkuaidi/2017-01-17/163848.html" itemprop="StoryLink" itemscope="itemscope" rel="nofollow noopener" target="_blank" title="CEC Website">statement</a> from the company posted by state-backed industry group China Electricity Council.</p> <p><a href="https://www.bloomberg.com/quote/1088:HK" itemprop="StoryLink" itemscope="itemscope" target="_blank" title="Year-to-Date Change">China Shenhua Energy Co. </a>said in a <a href="http://www.hkexnews.hk/listedco/listconews/SEHK/2017/0604/LTN20170604019.pdf" itemprop="StoryLink" itemscope="itemscope" rel="nofollow noopener" target="_blank" title="INSIDE INFORMATION ANNOUNCEMENT">filing</a> to the Hong Kong stock exchange Sunday that it was notified June 2 by its parent company of a significant matter that “contains substantial uncertainty which is subject to the approval of the relevant authorities.” Guodian’s Hong Kong-listed <a href="http://www.hkexnews.hk/listedco/listconews/SEHK/2017/0604/LTN20170604019.pdf" itemprop="StoryLink" itemscope="itemscope" rel="nofollow noopener" target="_blank" title="INSIDE INFORMATION ANNOUNCEMENT">China Longyuan Power Group Corp. </a>and <a href="https://www.bloomberg.com/quote/1296:HK" itemprop="StoryLink" itemscope="itemscope" target="_blank" title="Hong Kong-traded shares">Guodian Technology & Environment Group Corp.</a> issued similar statements Sunday.</p> <p>China Shenhua Energy’s <a href="https://www.bloomberg.com/quote/1088:HK" itemprop="StoryLink" itemscope="itemscope" target="_blank" title="Shenhua in HK">Hong Kong-listed</a> shares rose as much as 6.8 percent to HK$20.45 before paring gains to close up 2.7 percent at HK$19.66. China Longyuan ended up 2.6 percent, while Guodian Technology closed 17 percent higher. <a href="https://www.bloomberg.com/quote/991:HK" itemprop="StoryLink" itemscope="itemscope" target="_blank" title="Intraday Share Price">Datang International Power Generation Co.</a>, the listed unit of China Datang Corp., fell 5.1 percent. The city’s benchmark Hang Seng Index lost 0.2 percent.</p> <p><a href="https://www.bloomberg.com/news/articles/2017-06-04/china-s-shenhua-group-china-guodian-said-to-consider-merger-j3ipided">https://www.bloomberg.com/news/articles/2017-06-04/china-s-shenhua-group-china-guodian-said-to-consider-merger-j3ipided</a></p> ', 'image' => '', 'gambar' => '', 'berkas' => '', 'berkas_eng' => '', 'caption_image' => '', 'tag' => '', 'headline' => false, 'hit' => '293', 'agregasi' => false, 'published' => true, 'created' => '2017-06-06 19:41:53', 'modified' => '2017-06-06 19:41:53', 'title_eng' => 'Shenhua, China Guodian Said to Mull $267 Billion Power Giant', 'sub_title_eng' => '', 'description_eng' => '<p><a href="https://www.bloomberg.com/quote/SHGCLZ:CH" itemprop="StoryLink" itemscope="itemscope" title="Company Overview">Shenhua Group Corp.</a>, China’s biggest coal miner, and <a href="https://www.bloomberg.com/quote/CNEPGZ:CH" itemprop="StoryLink" itemscope="itemscope" title="Company Overview">China Guodian Corp.</a>, one of the nation’s largest coal-fired power generators, are in merger discussions, according to people with knowledge of the matter.</p> <p>The talks are preliminary and the merger may not go ahead, said the people, who asked not to be identified as the information isn’t public. The Hong Kong-listed units of the state-owned giants, which jumped Monday, said Sunday they were notified by their parent companies of “significant” matters, while subsidiaries in Shanghai <a href="https://www.bloomberg.com/news/terminal/OR0LWJ6JTSE8" itemprop="StoryLink" itemscope="itemscope" rel="nofollow noopener" target="_blank" title="China Shenhua, GD Power to Be Halted From Shanghai Trading (1)">requested</a>trading halts. Neither parent, which have combined assets of almost 1.82 trillion yuan ($267 billion), responded to requests for comment.</p> <p>A Shenhua-Guodian tie-up is the latest proposed combination in China’s power industry and differs from an earlier plan, <a href="https://www.bloomberg.com/news/articles/2017-05-08/china-said-to-mull-3-mega-power-firms-in-855-billion-reshuffle" itemprop="StoryLink" itemscope="itemscope" target="_blank" title="China’s Coal-Power Firms Surge as Mega-Merger Said Planned (3)">reported</a> by Bloomberg last month, that would have created three energy giants through mergers of eight companies. The power industry has been <a href="https://www.bloomberg.com/news/terminal/OR1PN46JTSE8" itemprop="StoryLink" itemscope="itemscope" rel="nofollow noopener" target="_blank" title="China to Keep Focus on Coal Power, Steel in SOE Reform: Daily">targeted</a> for restructuring as President Xi Jinping tries to cut industrial overcapacity, the number of state-owned enterprises and the country’s reliance on coal, as his government seeks to rebalance the $11 trillion economy toward more consumer spending.</p> <p>“The central government has determined to reform and shrink the number of major power generators as it doesn’t want to see continued expansion of coal-fired power capacity,” said Laban Yu, head of Asia oil and gas equity research at Jefferies Group LLC in Hong Kong. “Shenhua matches well with almost anybody as their high-quality coal assets could immediately help every coal-fired generator’s bottom line.”</p> <p>Regulators had considered merging Shenhua with <a href="https://www.bloomberg.com/quote/CHDACZ:CH" itemprop="StoryLink" itemscope="itemscope" title="Company Overview">China Datang Corp.</a> and <a href="https://www.bloomberg.com/quote/CGNPCZ:CH" itemprop="StoryLink" itemscope="itemscope" title="Company Overview">China General Nuclear Power Corp.</a> That proposal -- to create three power giants out of eight coal-fired and nuclear generators with combined assets of almost 5.9 trillion yuan -- pitched Guodian together with <a href="https://www.bloomberg.com/quote/HUADIZ:CH" itemprop="StoryLink" itemscope="itemscope" title="Company Overview">China Huadian Corp.</a> and <a href="https://www.bloomberg.com/quote/CNNZ:CH" itemprop="StoryLink" itemscope="itemscope" title="Company Overview">China National Nuclear Corp.</a></p> <h3>Deepen Consolidation</h3> <p>The State-owned Assets Supervision and Administration Commission didn’t respond to a faxed request for comment Sunday. Sasac’s Chairman Xiao Yaqing said in March that the country will deepen consolidation of state-owned enterprises this year</p> <p>Shenhua had 1.014 trillion yuan in <a href="https://www.bloomberg.com/news/terminal/OQV7N66TTDSU" itemprop="StoryLink" itemscope="itemscope" rel="nofollow noopener" target="_blank" title="Shenhua Group’s Total Assets Exceed 1 Trillion Yuan at End April">assets</a> and total power generating capacity of about 83 gigawatts at the end of April, it said in a <a href="https://mp.weixin.qq.com/s/hj5xSKUaP6Q1pORXLIOz8g" itemprop="StoryLink" itemscope="itemscope" rel="nofollow noopener" target="_blank" title="Shenhua report">report</a> last week. The company produced about 290 million tons of coal <a href="https://www.bloomberg.com/news/terminal/ON1X5Q6K50XS" itemprop="StoryLink" itemscope="itemscope" rel="nofollow noopener" target="_blank" title="Shenhua Profit Rises 1st Time in 4 Years on Coal Price Surge (1)">last year</a>. Guodian at the end of 2016 had total assets of 803 billion yuan and 143 gigawatts of power-generating capacity, according to a <a href="http://www.cec.org.cn/yaowenkuaidi/2017-01-17/163848.html" itemprop="StoryLink" itemscope="itemscope" rel="nofollow noopener" target="_blank" title="CEC Website">statement</a> from the company posted by state-backed industry group China Electricity Council.</p> <p><a href="https://www.bloomberg.com/quote/1088:HK" itemprop="StoryLink" itemscope="itemscope" target="_blank" title="Year-to-Date Change">China Shenhua Energy Co. </a>said in a <a href="http://www.hkexnews.hk/listedco/listconews/SEHK/2017/0604/LTN20170604019.pdf" itemprop="StoryLink" itemscope="itemscope" rel="nofollow noopener" target="_blank" title="INSIDE INFORMATION ANNOUNCEMENT">filing</a> to the Hong Kong stock exchange Sunday that it was notified June 2 by its parent company of a significant matter that “contains substantial uncertainty which is subject to the approval of the relevant authorities.” Guodian’s Hong Kong-listed <a href="http://www.hkexnews.hk/listedco/listconews/SEHK/2017/0604/LTN20170604019.pdf" itemprop="StoryLink" itemscope="itemscope" rel="nofollow noopener" target="_blank" title="INSIDE INFORMATION ANNOUNCEMENT">China Longyuan Power Group Corp. </a>and <a href="https://www.bloomberg.com/quote/1296:HK" itemprop="StoryLink" itemscope="itemscope" target="_blank" title="Hong Kong-traded shares">Guodian Technology & Environment Group Corp.</a> issued similar statements Sunday.</p> <p>China Shenhua Energy’s <a href="https://www.bloomberg.com/quote/1088:HK" itemprop="StoryLink" itemscope="itemscope" target="_blank" title="Shenhua in HK">Hong Kong-listed</a> shares rose as much as 6.8 percent to HK$20.45 before paring gains to close up 2.7 percent at HK$19.66. China Longyuan ended up 2.6 percent, while Guodian Technology closed 17 percent higher. <a href="https://www.bloomberg.com/quote/991:HK" itemprop="StoryLink" itemscope="itemscope" target="_blank" title="Intraday Share Price">Datang International Power Generation Co.</a>, the listed unit of China Datang Corp., fell 5.1 percent. The city’s benchmark Hang Seng Index lost 0.2 percent.</p> <p><a href="https://www.bloomberg.com/news/articles/2017-06-04/china-s-shenhua-group-china-guodian-said-to-consider-merger-j3ipided">https://www.bloomberg.com/news/articles/2017-06-04/china-s-shenhua-group-china-guodian-said-to-consider-merger-j3ipided</a></p> ', 'caption_image_eng' => '' ), 'Kanal' => array( 'id' => '2', 'title' => 'News & Blog', 'description' => 'News & Blog', 'published' => true, 'title_eng' => 'News & Blog', 'description_eng' => 'News & Blog' ), 'SubKanal' => array( 'id' => '7', 'kanal_id' => '2', 'title' => 'Blog Adaro', 'description' => 'Blog Adaro', 'published' => true, 'title_eng' => 'The Adaro Blog', 'description_eng' => 'The Adaro Blog' ) ), (int) 1 => array( 'News' => array( 'id' => '1254', 'kanal_id' => '2', 'sub_kanal_id' => '7', 'user_id' => '5', 'title' => 'Coal's Future in India', 'sub_title' => '', 'tgl_post' => '2017-06-02 19:36:00', 'author' => '', 'description' => '<p>The Indian trading house Adani Resources Ltd. has just reached an agreement with the Queensland government on royalty payments for the <a data-web-url="http://www.adaniaustralia.com/businesses/carmichael-coal-mine-and-rail-project" href="http://www.adaniaustralia.com/businesses/carmichael-coal-mine-and-rail-project" rel="nofollow noopener" target="_blank">Carmichael coal mine</a>, which the company is considering building in northeastern Australia. As one of the largest thermal coal mines in the world, it would exert a country-sized impact on global carbon emissions during its 60-year life. As the company decides whether to go ahead, it will need to keep in mind three relevant energy trends.</p> <p>First, Australian coal remains cheaper than natural gas – but not hugely so. Since 2011, coal has been as high as $5.38 per million British thermal units and gas as high as $13.96/MMBtu. However, since 2014, gas has fallen below coal’s peak prices. Thanks to <a href="https://www.bloomberg.com/news/terminal/OOQA1O6S9728" rel="nofollow noopener" target="_blank">U.S. exports</a>, the world may soon be flooded with natural gas, and that means gas prices aren’t likely to be spiking upward.</p> <figure align="center" data-align="center" data-chart-type="line" data-id="314090765" data-image-type="chart" data-thumbnail="https://assets.bwbx.io/images/users/iqjWHBFdfxIU/idWMG5O8SgWc/v1/460x260.png" data-type="image"> <h3>Asian Gas Plunges, But Coal Is Still Cheaper</h3> <p> </p> <p>Second, in the past year, the cost of solar generation in India has fallen by more than half. The country’s competitive auctions for solar power have pushed prices below 2.5 rupees ($0.04) per kilowatt-hour. While much experience with energy auctions has taught Bloomberg New Energy Finance to be skeptical of ultra-low bids, the trend is important. Solar is cheap and getting cheaper, and at a certain point it becomes hard to turn down as a marginal unit of new power generation.</p> <figure align="center" data-align="center" data-chart-type="line" data-id="314094338" data-image-type="chart" data-thumbnail="https://assets.bwbx.io/images/users/iqjWHBFdfxIU/i8JYTBimGCuw/v1/460x260.png" data-type="image"> <h3>Down by Half</h3> <p> </p> <p>The third trend has to do with the broader energy market in India. Solar at 4 cents undercuts the cost of other major generation sources. By BNEF’s calculations of the so-called levelized cost of energy <a href="https://www.bloomberg.com/view/articles/2017-06-02/coal-s-future-in-india#footnote-1496350575632">1</a> , solar has become significantly cheaper than new gas and coal-fired power. (Oh, and wind is also slightly cheaper than coal.)</p> <figure align="center" data-align="center" data-chart-type="bar" data-id="314094445" data-image-type="chart" data-thumbnail="https://assets.bwbx.io/images/users/iqjWHBFdfxIU/ibgsc.5bFSDM/v1/460x260.png" data-type="image"> <h3>Solar Prices Lowest</h3> <p> </p> <p>As my colleagues say in a <a href="https://www.bloomberg.com/news/terminal/OQ3QDM6TTDS2" rel="nofollow noopener" target="_blank">research note</a>, “Cheap and plentiful PV could lead to a strategic rethink on how India meets its future demand for electricity.” And analysts aren’t the only ones who think so. <a href="https://www.bloomberg.com/news/articles/2017-06-01/cheaper-solar-in-india-prompts-rethink-for-more-coal-projects" target="_blank">Indian power market players</a> also say that solar’s cost trend may limit the expansion of conventional power generation.</p> <p>To be sure, coal-fired power is in India to stay. It will probably even increase in absolute terms as electrification expands with the economy. At the same time, India’s domestic coal production is increasing, pushing its prices down about 10 percent lower than those of Australian imports. This differential might not be an issue for Adani Enterprises, which intends to export only to its own power projects on the coasts, where imports are still cheaper than domestic supply. But new infrastructure connecting inland Indian mines to the coasts could change that math during the lifetime of the Carmichael mine.</p> <p>Imported coal today faces cost competition from natural gas, renewables and domestically mined coal. It’s a dynamic market that presents challenges for the Adani board as it decides whether to invest in a 60-year asset.</p> <p>Weekend reads</p> <ul> <li>The two largest coal-fired power plants in New Jersey <a data-web-url="http://www.philly.com/philly/business/energy/pseg-shuts-down-its-last-n-j-coal-plants-its-just-economics-20170530.html" href="http://www.philly.com/philly/business/energy/pseg-shuts-down-its-last-n-j-coal-plants-its-just-economics-20170530.html" rel="nofollow noopener" target="_blank">shut down for good</a> June 1.</li> <li>The <a data-web-url="http://www.heraldnews.com/news/20170530/brayton-point-powers-down" href="http://www.heraldnews.com/news/20170530/brayton-point-powers-down" rel="nofollow noopener" target="_blank">last coal plant in Massachusetts</a> closed May 31 – and with it, <a data-web-url="https://www.eenews.net/stories/1060055243" href="https://www.eenews.net/stories/1060055243" rel="nofollow noopener" target="_blank">coal has disappeared from New England</a>.</li> <li>Gadfly’s David Fickling on an Exxon Mobil shareholder vote that shows how <a href="https://www.bloomberg.com/gadfly/articles/2017-06-01/funds-fire-up-real-climate-change" target="_blank">funds fire up real climate change</a>.</li> <li>Colorado’s utility regulators will require the state’s largest power company to <a data-web-url="http://www.denverpost.com/2017/05/28/colorado-utility-regulators-carbon-emission-xcel-energy/" href="http://www.denverpost.com/2017/05/28/colorado-utility-regulators-carbon-emission-xcel-energy/" rel="nofollow noopener" target="_blank">price the effects</a> of its carbon emissions.</li> <li>U.S. insurance and re-insurance <a data-web-url="http://www.artemis.bm/blog/2017/05/31/u-s-convective-storm-reinsurance-losses-hit-11bn-in-2017-ytd/" href="http://www.artemis.bm/blog/2017/05/31/u-s-convective-storm-reinsurance-losses-hit-11bn-in-2017-ytd/" rel="nofollow noopener" target="_blank">losses from severe storms have passed $10 billion</a>for the 10th consecutive year … and it’s only May.</li> <li>Mary Meeker of the venture capital firm Kleiner Perkins is out with her <a data-web-url="http://www.kpcb.com/internet-trends" href="http://www.kpcb.com/internet-trends" rel="nofollow noopener" target="_blank">latest Internet Trends report</a>, all 355 slides of it.</li> <li>A survey of artificial-intelligence researchers shows that most <a data-web-url="https://www.technologyreview.com/s/607970/experts-predict-when-artificial-intelligence-will-exceed-human-performance/" href="https://www.technologyreview.com/s/607970/experts-predict-when-artificial-intelligence-will-exceed-human-performance/" rel="nofollow noopener" target="_blank">expect machines to exceed humans in about 45 years</a> – coincidentally, about the length of a working life.</li> <li>Economist Brad DeLong says that “the <a data-web-url="http://equitablegrowth.org/equitablog/delong-the-future-of-work-automation-and-labor-inclusive-ai-technology-and-policy-for-a-diverse-human-future/" href="http://equitablegrowth.org/equitablog/delong-the-future-of-work-automation-and-labor-inclusive-ai-technology-and-policy-for-a-diverse-human-future/" rel="nofollow noopener" target="_blank">combination of coming AI with a market economy</a> will be absolute poison for equity and equitable growth.”</li> <li>Venture capitalist Marc Andreessen says that self-driving cars will <a data-web-url="https://www.recode.net/2017/5/30/15693382/marc-andreessen-automation-jobs-code-2017" href="https://www.recode.net/2017/5/30/15693382/marc-andreessen-automation-jobs-code-2017" rel="nofollow noopener" target="_blank">create many more jobs than they eliminate</a>.</li> </ul> <p style="text-align: justify;"><a href="https://www.bloomberg.com/view/articles/2017-06-02/coal-s-future-in-india">https://www.bloomberg.com/view/articles/2017-06-02/coal-s-future-in-india</a></p> </figure> </figure> </figure> ', 'image' => '', 'gambar' => '', 'berkas' => '', 'berkas_eng' => '', 'caption_image' => '', 'tag' => '', 'headline' => false, 'hit' => '323', 'agregasi' => false, 'published' => true, 'created' => '2017-06-06 19:40:11', 'modified' => '2017-06-06 19:40:11', 'title_eng' => 'Coal's Future in India', 'sub_title_eng' => '', 'description_eng' => '<p>The Indian trading house Adani Resources Ltd. has just reached an agreement with the Queensland government on royalty payments for the <a data-web-url="http://www.adaniaustralia.com/businesses/carmichael-coal-mine-and-rail-project" href="http://www.adaniaustralia.com/businesses/carmichael-coal-mine-and-rail-project" rel="nofollow noopener" target="_blank">Carmichael coal mine</a>, which the company is considering building in northeastern Australia. As one of the largest thermal coal mines in the world, it would exert a country-sized impact on global carbon emissions during its 60-year life. As the company decides whether to go ahead, it will need to keep in mind three relevant energy trends.</p> <p>First, Australian coal remains cheaper than natural gas – but not hugely so. Since 2011, coal has been as high as $5.38 per million British thermal units and gas as high as $13.96/MMBtu. However, since 2014, gas has fallen below coal’s peak prices. Thanks to <a href="https://www.bloomberg.com/news/terminal/OOQA1O6S9728" rel="nofollow noopener" target="_blank">U.S. exports</a>, the world may soon be flooded with natural gas, and that means gas prices aren’t likely to be spiking upward.</p> <figure align="center" data-align="center" data-chart-type="line" data-id="314090765" data-image-type="chart" data-thumbnail="https://assets.bwbx.io/images/users/iqjWHBFdfxIU/idWMG5O8SgWc/v1/460x260.png" data-type="image"> <h3>Asian Gas Plunges, But Coal Is Still Cheaper</h3> <p> </p> <p>Second, in the past year, the cost of solar generation in India has fallen by more than half. The country’s competitive auctions for solar power have pushed prices below 2.5 rupees ($0.04) per kilowatt-hour. While much experience with energy auctions has taught Bloomberg New Energy Finance to be skeptical of ultra-low bids, the trend is important. Solar is cheap and getting cheaper, and at a certain point it becomes hard to turn down as a marginal unit of new power generation.</p> <figure align="center" data-align="center" data-chart-type="line" data-id="314094338" data-image-type="chart" data-thumbnail="https://assets.bwbx.io/images/users/iqjWHBFdfxIU/i8JYTBimGCuw/v1/460x260.png" data-type="image"> <h3>Down by Half</h3> <p> </p> <p>The third trend has to do with the broader energy market in India. Solar at 4 cents undercuts the cost of other major generation sources. By BNEF’s calculations of the so-called levelized cost of energy <a href="https://www.bloomberg.com/view/articles/2017-06-02/coal-s-future-in-india#footnote-1496350575632">1</a> , solar has become significantly cheaper than new gas and coal-fired power. (Oh, and wind is also slightly cheaper than coal.)</p> <figure align="center" data-align="center" data-chart-type="bar" data-id="314094445" data-image-type="chart" data-thumbnail="https://assets.bwbx.io/images/users/iqjWHBFdfxIU/ibgsc.5bFSDM/v1/460x260.png" data-type="image"> <h3>Solar Prices Lowest</h3> <p> </p> <p>As my colleagues say in a <a href="https://www.bloomberg.com/news/terminal/OQ3QDM6TTDS2" rel="nofollow noopener" target="_blank">research note</a>, “Cheap and plentiful PV could lead to a strategic rethink on how India meets its future demand for electricity.” And analysts aren’t the only ones who think so. <a href="https://www.bloomberg.com/news/articles/2017-06-01/cheaper-solar-in-india-prompts-rethink-for-more-coal-projects" target="_blank">Indian power market players</a> also say that solar’s cost trend may limit the expansion of conventional power generation.</p> <p>To be sure, coal-fired power is in India to stay. It will probably even increase in absolute terms as electrification expands with the economy. At the same time, India’s domestic coal production is increasing, pushing its prices down about 10 percent lower than those of Australian imports. This differential might not be an issue for Adani Enterprises, which intends to export only to its own power projects on the coasts, where imports are still cheaper than domestic supply. But new infrastructure connecting inland Indian mines to the coasts could change that math during the lifetime of the Carmichael mine.</p> <p>Imported coal today faces cost competition from natural gas, renewables and domestically mined coal. It’s a dynamic market that presents challenges for the Adani board as it decides whether to invest in a 60-year asset.</p> <p>Weekend reads</p> <ul> <li>The two largest coal-fired power plants in New Jersey <a data-web-url="http://www.philly.com/philly/business/energy/pseg-shuts-down-its-last-n-j-coal-plants-its-just-economics-20170530.html" href="http://www.philly.com/philly/business/energy/pseg-shuts-down-its-last-n-j-coal-plants-its-just-economics-20170530.html" rel="nofollow noopener" target="_blank">shut down for good</a> June 1.</li> <li>The <a data-web-url="http://www.heraldnews.com/news/20170530/brayton-point-powers-down" href="http://www.heraldnews.com/news/20170530/brayton-point-powers-down" rel="nofollow noopener" target="_blank">last coal plant in Massachusetts</a> closed May 31 – and with it, <a data-web-url="https://www.eenews.net/stories/1060055243" href="https://www.eenews.net/stories/1060055243" rel="nofollow noopener" target="_blank">coal has disappeared from New England</a>.</li> <li>Gadfly’s David Fickling on an Exxon Mobil shareholder vote that shows how <a href="https://www.bloomberg.com/gadfly/articles/2017-06-01/funds-fire-up-real-climate-change" target="_blank">funds fire up real climate change</a>.</li> <li>Colorado’s utility regulators will require the state’s largest power company to <a data-web-url="http://www.denverpost.com/2017/05/28/colorado-utility-regulators-carbon-emission-xcel-energy/" href="http://www.denverpost.com/2017/05/28/colorado-utility-regulators-carbon-emission-xcel-energy/" rel="nofollow noopener" target="_blank">price the effects</a> of its carbon emissions.</li> <li>U.S. insurance and re-insurance <a data-web-url="http://www.artemis.bm/blog/2017/05/31/u-s-convective-storm-reinsurance-losses-hit-11bn-in-2017-ytd/" href="http://www.artemis.bm/blog/2017/05/31/u-s-convective-storm-reinsurance-losses-hit-11bn-in-2017-ytd/" rel="nofollow noopener" target="_blank">losses from severe storms have passed $10 billion</a>for the 10th consecutive year … and it’s only May.</li> <li>Mary Meeker of the venture capital firm Kleiner Perkins is out with her <a data-web-url="http://www.kpcb.com/internet-trends" href="http://www.kpcb.com/internet-trends" rel="nofollow noopener" target="_blank">latest Internet Trends report</a>, all 355 slides of it.</li> <li>A survey of artificial-intelligence researchers shows that most <a data-web-url="https://www.technologyreview.com/s/607970/experts-predict-when-artificial-intelligence-will-exceed-human-performance/" href="https://www.technologyreview.com/s/607970/experts-predict-when-artificial-intelligence-will-exceed-human-performance/" rel="nofollow noopener" target="_blank">expect machines to exceed humans in about 45 years</a> – coincidentally, about the length of a working life.</li> <li>Economist Brad DeLong says that “the <a data-web-url="http://equitablegrowth.org/equitablog/delong-the-future-of-work-automation-and-labor-inclusive-ai-technology-and-policy-for-a-diverse-human-future/" href="http://equitablegrowth.org/equitablog/delong-the-future-of-work-automation-and-labor-inclusive-ai-technology-and-policy-for-a-diverse-human-future/" rel="nofollow noopener" target="_blank">combination of coming AI with a market economy</a> will be absolute poison for equity and equitable growth.”</li> <li>Venture capitalist Marc Andreessen says that self-driving cars will <a data-web-url="https://www.recode.net/2017/5/30/15693382/marc-andreessen-automation-jobs-code-2017" href="https://www.recode.net/2017/5/30/15693382/marc-andreessen-automation-jobs-code-2017" rel="nofollow noopener" target="_blank">create many more jobs than they eliminate</a>.</li> </ul> <p style="text-align: justify;"><a href="https://www.bloomberg.com/view/articles/2017-06-02/coal-s-future-in-india">https://www.bloomberg.com/view/articles/2017-06-02/coal-s-future-in-india</a></p> </figure> </figure> </figure> ', 'caption_image_eng' => '' ), 'Kanal' => array( 'id' => '2', 'title' => 'News & Blog', 'description' => 'News & Blog', 'published' => true, 'title_eng' => 'News & Blog', 'description_eng' => 'News & Blog' ), 'SubKanal' => array( 'id' => '7', 'kanal_id' => '2', 'title' => 'Blog Adaro', 'description' => 'Blog Adaro', 'published' => true, 'title_eng' => 'The Adaro Blog', 'description_eng' => 'The Adaro Blog' ) ), (int) 2 => array( 'News' => array( 'id' => '1253', 'kanal_id' => '2', 'sub_kanal_id' => '7', 'user_id' => '5', 'title' => 'Coking coal price talks stall as steelmakers, miners spar on contract terms', 'sub_title' => '', 'tgl_post' => '2017-06-01 19:34:00', 'author' => '', 'description' => '<p>Talks between Australian miners and Japanese steelmakers over coking coal supplies have stalled as the Japanese companies are pushing to move to more flexible arrangements from the current quarterly fixed-price terms.</p> <p>The Japanese are backed by BHP, the world's biggest producer of coking coal, a key steelmaking ingredient. However, other miners are against upending the 45-year-old fixed price settlement mechanism. Any changes could potentially further roil a market hit by wild swings recently.</p> <p>Coking coal supply contracts between Australian miners and Japanese steelmakers are accepted as the benchmark around the world.</p> <p>Pricing could instead be set by using the monthly average of a daily spot price, said three sources close to the negotiations.</p> <p>While none of the companies involved has publicly stated the precise changes being sought, several industry sources said that Japan's steelmakers are pushing for change.</p> <p>"The days of the benchmark system as we know it are dead," said a source close to the negotiations.</p> <p>Should the changes be agreed, coking coal prices would be more closely aligned to that for iron ore, the other main steel making ingredient.</p> <p>When supplies are short, as recently after a cyclone hit supply chains in Australia, miners would get a windfall.</p> <p>But miners would also be hit by low prices when supplies are plentiful and demand is weak, while the reverse would apply for steel mills.</p> <p>Japanese steelmakers led by Nippon Steel and Sumitomo Metal Corp have long resisted the idea of more flexible pricing, preferring the stability of supply under term contracts. But that is changing.</p> <p>"They want index-linked or fluctuating pricing," said a source at one of the miners. "They are tired of quarterly discussions and want more third-party assessments."</p> <p>Meanwhile, another source with ties to the miners said talks were close to setting a benchmark price of around $195 a ton as early as Friday that would apply retroactively for the second quarter of 2017. The price roughly equates to the average coking coal price during March to May.</p> <p>BHP is aligned with the Japanese steelmakers, with Chief Commercial Officer Arnoud Balhuizen telling reporters in Melbourne on Thursday: "We are not participating in quarterly benchmarks."</p> <p>"Our conversations with our customers are very constructive," Balhuizen said. "We understand, probably triggered by the recent volatility in the market, people are more and more open to not fixing prices on a quarterly basis."</p> <p>Other miners led by Glencore and Peabody are resisting the moves since they sell coal with a lower heat content that could be priced at a discount to a spot market price, sources said.</p> <p>Prices for Australian premium coking coal surged to as high as $314 a ton earlier this year after Cyclone Debbie hit Queensland. They were quoted by S&P Global Platts at $149.20 per ton on Wednesday.</p> <p>The cyclone knocked out supply chains and forced a hiatus in talks on coking coal prices that would normally be wound up by March or April. The storm also forced Japanese steelmakers to scramble for alternative supplies.</p> <p>For a graphic on how cyclone disrupts coal market IMG, click <a href="http://fingfx.thomsonreuters.com/gfx/rngs/AUSTRALIA-CYCLONE-COAL/010040F70ZD/AUSTRALIA-CYCLONE-COAL.jpg">here</a></p> <p>For a graphic on Japanese steelmakers' coking coal imports, click <a href="http://fingfx.thomsonreuters.com/gfx/rngs/JAPAN-STEEL-COAL/010040QQ1LJ/JAPAN-STEEL-COAL.jpg">here</a></p> <p>(Additional reporting by Yuka Obayashi in TOKYO and Sonali Paul in MELBOURNE; Editing by Christian Schmollinger)</p> <p><a href="http://www.reuters.com/article/us-coal-australia-japan-idUSKBN18S4T1">http://www.reuters.com/article/us-coal-australia-japan-idUSKBN18S4T1</a></p> ', 'image' => '', 'gambar' => '', 'berkas' => '', 'berkas_eng' => '', 'caption_image' => '', 'tag' => '', 'headline' => false, 'hit' => '286', 'agregasi' => false, 'published' => true, 'created' => '2017-06-06 19:36:25', 'modified' => '2017-06-06 19:36:25', 'title_eng' => 'Coking coal price talks stall as steelmakers, miners spar on contract terms', 'sub_title_eng' => '', 'description_eng' => '<p>Talks between Australian miners and Japanese steelmakers over coking coal supplies have stalled as the Japanese companies are pushing to move to more flexible arrangements from the current quarterly fixed-price terms.</p> <p>The Japanese are backed by BHP, the world's biggest producer of coking coal, a key steelmaking ingredient. However, other miners are against upending the 45-year-old fixed price settlement mechanism. Any changes could potentially further roil a market hit by wild swings recently.</p> <p>Coking coal supply contracts between Australian miners and Japanese steelmakers are accepted as the benchmark around the world.</p> <p>Pricing could instead be set by using the monthly average of a daily spot price, said three sources close to the negotiations.</p> <p>While none of the companies involved has publicly stated the precise changes being sought, several industry sources said that Japan's steelmakers are pushing for change.</p> <p>"The days of the benchmark system as we know it are dead," said a source close to the negotiations.</p> <p>Should the changes be agreed, coking coal prices would be more closely aligned to that for iron ore, the other main steel making ingredient.</p> <p>When supplies are short, as recently after a cyclone hit supply chains in Australia, miners would get a windfall.</p> <p>But miners would also be hit by low prices when supplies are plentiful and demand is weak, while the reverse would apply for steel mills.</p> <p>Japanese steelmakers led by Nippon Steel and Sumitomo Metal Corp have long resisted the idea of more flexible pricing, preferring the stability of supply under term contracts. But that is changing.</p> <p>"They want index-linked or fluctuating pricing," said a source at one of the miners. "They are tired of quarterly discussions and want more third-party assessments."</p> <p>Meanwhile, another source with ties to the miners said talks were close to setting a benchmark price of around $195 a ton as early as Friday that would apply retroactively for the second quarter of 2017. The price roughly equates to the average coking coal price during March to May.</p> <p>BHP is aligned with the Japanese steelmakers, with Chief Commercial Officer Arnoud Balhuizen telling reporters in Melbourne on Thursday: "We are not participating in quarterly benchmarks."</p> <p>"Our conversations with our customers are very constructive," Balhuizen said. "We understand, probably triggered by the recent volatility in the market, people are more and more open to not fixing prices on a quarterly basis."</p> <p>Other miners led by Glencore and Peabody are resisting the moves since they sell coal with a lower heat content that could be priced at a discount to a spot market price, sources said.</p> <p>Prices for Australian premium coking coal surged to as high as $314 a ton earlier this year after Cyclone Debbie hit Queensland. They were quoted by S&P Global Platts at $149.20 per ton on Wednesday.</p> <p>The cyclone knocked out supply chains and forced a hiatus in talks on coking coal prices that would normally be wound up by March or April. The storm also forced Japanese steelmakers to scramble for alternative supplies.</p> <p>For a graphic on how cyclone disrupts coal market IMG, click <a href="http://fingfx.thomsonreuters.com/gfx/rngs/AUSTRALIA-CYCLONE-COAL/010040F70ZD/AUSTRALIA-CYCLONE-COAL.jpg">here</a></p> <p>For a graphic on Japanese steelmakers' coking coal imports, click <a href="http://fingfx.thomsonreuters.com/gfx/rngs/JAPAN-STEEL-COAL/010040QQ1LJ/JAPAN-STEEL-COAL.jpg">here</a></p> <p>(Additional reporting by Yuka Obayashi in TOKYO and Sonali Paul in MELBOURNE; Editing by Christian Schmollinger)</p> <p><a href="http://www.reuters.com/article/us-coal-australia-japan-idUSKBN18S4T1">http://www.reuters.com/article/us-coal-australia-japan-idUSKBN18S4T1</a></p> ', 'caption_image_eng' => '' ), 'Kanal' => array( 'id' => '2', 'title' => 'News & Blog', 'description' => 'News & Blog', 'published' => true, 'title_eng' => 'News & Blog', 'description_eng' => 'News & Blog' ), 'SubKanal' => array( 'id' => '7', 'kanal_id' => '2', 'title' => 'Blog Adaro', 'description' => 'Blog Adaro', 'published' => true, 'title_eng' => 'The Adaro Blog', 'description_eng' => 'The Adaro Blog' ) ) ) $csr = array( (int) 0 => array( 'News' => array( 'id' => '1256', 'kanal_id' => '3', 'sub_kanal_id' => '11', 'user_id' => '3', 'title' => 'AE Presentation Jun 2017', 'sub_title' => '', 'tgl_post' => '2017-06-01 15:25:00', 'author' => '', 'description' => '', 'image' => '', 'gambar' => '', 'berkas' => 'AE Presentation - 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