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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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Sunday, 09 October 11
FREIGHT MARKET ENDED WITH A POSITIVE DIRECTION - VISTAAR
COALspot.com - The market ended with a positive note with all the segments up except for handy size. The biggest gainer was Panamax index up by 11 p ...
Saturday, 08 October 11
INDONESIAN MINER PLANS $167M IPO TO FUEL SUMATRA COAL BOOM - JG
The Jakarta Globe reported that, coal miner Atlas Resources aims to raise as much as Rp 1.5 trillion ($167 million) in an initial public offering to ...
Friday, 07 October 11
MINING REGULATIONS , OBSTACLES AND GROWTH : INDIA VS INDONESIA - SUNIL K KUMBHAT
COALspot.com - The Govt of India has passed long pending Mines & Minerals (Regulation and Development) Bill, 2011, which seeks to replace ...
Friday, 07 October 11
$100M FOR EXPANSION INTO KALIMANTAN MINING: AKR
The Jakarta Globe, one of the leading English news paper in Indonesia reported that, AKR Corporindo, a fuel and chemical distributor, has set aside ...
Thursday, 06 October 11
REALM SECURES 51% OF KATINGAN RIA COAL PROJECT IN CENTRAL KALIMANTAN
•Realm secures 51% of PT Katingan Ria Thermal Coal Project in Central Kalimantan
•Realm takes ownership of Kalres Limited
•Acquisit ...
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- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
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