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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, 06 September 11
SEMEN GRESIK TO ACQUIRE COAL MINE FOR RP. 1 TRILLION
COALspot.com - PT Semen Gresik Tbk (SMGR) is planning to acquire a low calorific value coal concession (IUP). According to Semen Gresik, the coal mi ...
Tuesday, 06 September 11
DRY BULK MARKETS RALLY POWERS THROUGH TO NEW WEEK, BUT A CORRECTION COULD BE OVERDUE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s freights rates kept leaping forwards during the beginning of the week, with the industry’s benchmark, the Baltic D ...
Monday, 05 September 11
TNPL POSTPONES BID OPENING UNTIL 12 SEPTEMBER 2011
COALspot.com - TNPL has postponed submission of the offer until 12 September 2011 on request from the supplier, an Indian trader said.
Due to Ram ...
Monday, 05 September 11
INDONESIAN COAL BENCHMARK PRICE - ANALYSIS
Analyst : Sunil K Kumbhat
COALspot.com - As a part of the Government’s efforts to stop transfer pricing abuses which have resulted in the los ...
Saturday, 03 September 11
FEW SHIPS REPORTED FIXED FROM INDONESIA TO INDIA - VISTAAR
COALspot.com - The freight market continued the upward trend during last week with BDI up by about 13 pct closing at 1,740 points and cape index up ...
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- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- The University of Queensland
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Australian Coal Association
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
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