China Trade Information

Shantou Electric Power Development Co<000534> said in a statement on Tuesday that one of its thermal power plants has been forced to halt power generation since early November as coal suppliers failed to fully make contracted deliveries earlier this year, sources reported.

The plant’s two coal suppliers only delivered part of the contracted amounts, after spot prices and freight rates rose up, far exceeding the contract prices, the company said.

Recently, both the coal prices and freight rates have fallen sharply. The Shenzhen-listed company revealed that it is now working with the two suppliers to set new prices to ensure its coal supply and resume production.

The company reported a loss of nearly RMB 17 million for the first three quarters of this year.

Shares of Shantou Electric Power surged 6.31% to RMB 3.37 on Tuesday.

Tags: coal, Electronics, power

• Zeng stresses coal supply to ensure power (0)
• Yingli, Slovakia ink solar module deal (0)
• Yanzhou Coal to invest in parent’s coal liquefaction project (0)
• Yanzhou Coal signs deal with Huadian; revenue to rise (0)
• Yanzhou Coal Q3 net profit up 302.53 pct on rising coal prices (0)
• Yanzhou Coal pays 30 mln-yuan price regulation fund (0)
• Yanzhou Coal Mining to build key lab on coal technology (0)
• Yanzhou Coal Mining 2007 net profit up 36% (0)