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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, 20 September 11
MTD INAUGURATES ITS COAL TERMINAL IN JAVA ISLAND
Press Release – MTD Group of Malaysia, one of prominent key players in the development of infrastructure in Malaysia, today inaugurated their ...
Tuesday, 20 September 11
DRY BULK MARKET LOSING ITS EDGE, RETREATING AT THE START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a surge during the past couple of weeks, which saw Capesize earnings boosted and the BDI (Baltic Dry Index) reaching levels of year high and c ...
Monday, 19 September 11
CHINA IMPORTS MORE THAN 10 MMT INDO COAL IN AUGUST 2011
COALspot.com - Indonesian coal exports dropped 1.642 million tons in August compared to July exports. Indonesia exports 29.662 million tons of coal ...
Monday, 19 September 11
INDOMOBIL ENTERING INTO COAL MINING BUSINESS
COALspot.Com- PT Indomobil Sukses Internasional Tbk, part of, one of Indonesia's largest conglomerates, to enter into mining industry ac ...
Sunday, 18 September 11
THE COAL IMPORTS TO INDIA, OUT OF INDONESIA LIKELY TO PICK UP - CAPT. REDDY
COALspot.com - The freight market continued the upward trend until midweek almost touching 2,000 points, however towards second half of the week the ...
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- Posco Energy - South Korea
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- Economic Council, Georgia
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- India Bulls Power Limited - India
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- Oldendorff Carriers - Singapore
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- White Energy Company Limited
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- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
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- OPG Power Generation Pvt Ltd - India
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- Asmin Koalindo Tuhup - Indonesia
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- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
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- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
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- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
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- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
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- Directorate General of MIneral and Coal - Indonesia
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- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
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- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
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- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
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- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
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- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
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- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- Planning Commission, India
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
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- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- The University of Queensland
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- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
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- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
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- TNB Fuel Sdn Bhd - Malaysia
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