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Monday, 07 November 11
CHINA'S COAL IMPORTS STEAM AHEAD
 Chinese seaborne coal imports have grown greatly in recent years, up from 39.2mt in 2008 to 167.7mt in 2010, with the result that China became a net coal importer in 2009.
Chinese seaborne steam coal imports equated to less than 5% of Chinese coal consumption in 2010. Despite this, China is now the world’s second largest steam coal importer, accounting for 13.7% of seaborne imports in 2010. Thus, any changes in China’s import volumes will have a major impact on the global seaborne steam coal trade.
The existence of a pricing arbitrage between domestic and international coal prices was the catalyst for the upturn in Chinese coal imports. In 2010, higher domestic prices led Chinese consumers to source more coal from the international market, where the price was lower. As the Graph of the Month shows, in January 2010, the price of Indonesian steam coal (spot price + freight) was $39 per tonne cheaper than the Chinese domestic price (spot price + coastal freight) in south China. As a result, China imported an average of 9.0mt per month in Q1 2010, compared to just 1.2mt in the same period of 2009.
However, during the first quarter of 2011, a reduced average of 5.4mt of coal was imported by China. This reflects a higher global coal price (up to $139 per tonne), which made domestic coal a more cost-effective option.
Other Factors
Since April this year, Chinese domestic steam coal prices have risen and now exceed international prices. Thus, Chinese imports reached 12.0mt in September, the largest volume on record.
Other factors, in addition to pricing, support this short-term movement towards coal imports. Firstly, there are fears about potential power shortages, following a sharp decline in hydroelectricity output (down 11.2% and 14.9% y-o-y in July and August respectively). Secondly, it is likely that there will also be heightened demand for coal for power generation, due to the onset of winter. The price arbitrage should stimulate imports, as should reports that the central government will lower taxes and port charges on imported coal.
Potential Limitations
In the medium-term, Chinese domestic coal production may be limited if the government drive for better mine safety leads to mine closures. However, this may not inevitably lead to heightened seaborne imports. Production in countries like Mongolia and regions like Inner Mongolia has been ramping up recently and a railway expansion programme, due to be completed in 2015, will facilitate large-scale coal exports from these areas.
However, it is important not to understate the long-term impact of Chinese demand on seaborne coal trade even though most coal currently consumed by China is produced domestically. Even if seaborne import’s share of Chinese coal demand were to increase by just 2% percentage points over the course of the next decade to stand at 5%, then(assuming long-term demand growth of 2.5%), this would equate to an extra 100mt of annual seaborne import requirements.
In the long-run, any developments along this line would offer a considerable upside for dry bulk trade.
Source: Clarksons / Hellenic Shipping
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Tuesday, 18 October 11
INDONESIAN PRESIDENT APPOINTS JERO WACIK AS NEW MINISTER OF ENERGY & MINERAL RESOURCES
COALspot.com - Jero Wacik has been appointed as minister of energy and mineral resources of Indonesia replacing Darwin Saleh and Prof. Widjajono Par ...
Tuesday, 18 October 11
DELTA DUNIA MAKMUR HAS PRODUCED 3.0 MILLION TONS OF COAL LAST MONTH
COALspot.com - PT. Delta Dunia Makmur, wholly owned subsidiary, PT Bukit Makmur Mandiri Utama (BUMA), Delta Dunia Makmur has removed 1.4 million bcm ...
Monday, 17 October 11
KOWEPO TO BUY 260,000 MT BITUMINOUS COAL
COALspot.com - KOWEPO has issued a spot tender for 260,000MT of minimum 5,600kcal/kg NAR Bituminous Coal.
The tender document also mentioned tha ...
Monday, 17 October 11
CAPESIZE SHIPPING COSTS CLIMB TO 10-MONTH HIGH ON ORE IMPORTS
The cost to hire capesize vessels climbed to a 10-month high as rising imports of iron ore to China boosted demand for the ships.Monthly iron-ore sh ...
Saturday, 15 October 11
BUNKER PRICES AND DEMANDS PUSHED FREIGHT RATES UP - VISTAAR
COALspot.com - The market continued to be firm with all segments moving up with biggest gain in Handy size segment up by 15 pct. The BDI was u ...
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- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Indian Energy Exchange, India
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- Planning Commission, India
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
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