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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, 13 September 11
CAPITAL COSTS OF INDIAN COAL MINING PROJECT - AN ANALYST VIEW
By Mr Dipesh Dipu, Director - Consulting (Mining), Deloitte Touche Tohmatsu India Private Limited
The coal mining sector that has been opened par ...
Tuesday, 13 September 11
INDONESIAS COAL SECTOR EYES 2012 BOOM - JG
The Jakarta Globe, Indonesian English language News paper reported that, Coal production is set to surge next year as coal miners bolster their busi ...
Tuesday, 13 September 11
DRY BULK RALLY MAINTAINS MOMENTUM AT START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept its upward momentum at the start of the week, as the industry’s benchmark, the Baltic Dry Index (BDI) was up by 2.07% ...
Monday, 12 September 11
INDONESIAN GOVERNMENT HAS ALLOCATED MORE COAL FOR 2012
COALspot.com - Indonesian government has increased the domestic market obligation allocation to 82.07 million tons of coal for 2012, which is 4 perc ...
Saturday, 10 September 11
THE FREIGHT MARKET LIKELY TO BE FIRM NEXT WEEK - CAPT. REDDY
COALspot.com - The freight market continued the upward trend during last week with BDI crossing 1,800 points and closing at 1,838 points up by 5.63 ...
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- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Planning Commission, India
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Sical Logistics Limited - India
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- CNBM International Corporation - China
- The University of Queensland
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
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