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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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Thursday, 15 September 11
BOTSWANA COAL AND ENERGY CONFERENCE 2011
Press Release - Botswana Coal and Energy Conference 2011 | 29-30 November 2011 | Gaborone. Botswana represents Africa’s exciting new coal and ...
Thursday, 15 September 11
DRY BULK MARKET EDGING FURTHER UP THE SCALE, CLOSING IN ON 2,000 POINTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was up once again yesterday, reaching 1,927 points, or 1.375 higher on the day. Thus, it has kept its rising trend established d ...
Wednesday, 14 September 11
INDO STRAITS BAGS 2.4 MILLION TON COAL TRANSPORTATION CONTRACT FROM ARUTMIN
COALspot.com - PT Indo Straits Tbk (PTIS) bagged a contract to tranship about 2.40 million tons of coal over an initial period of 6 months fro ...
Wednesday, 14 September 11
DUTA PERTIWI DISCOVERS COAL RESERVE - INSIDER STORIES
Insider Stories reported that, PT Duta Pertiwi Nusantara Tbk (DPNS) yesterday steeply jumped 24.56% to Rp710 a share after the company discove ...
Wednesday, 14 September 11
GOVT SETS SEPTEMBER COAL REFERENCE PRICE AT $116.26 PER TON
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the September 2011 coal reference price at US$ 116.26 per ton slightly ...
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- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
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