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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, 23 August 11
PENRHYN COAL USING EVERGREEN ENERGYS COAL UPGRADING PROCESS
Evergreen Energy Inc has announced the successful testing results of the initial batches of Penrhyn coal using Evergreen Energy’s coal upgradi ...
Tuesday, 23 August 11
A SHARP INCREASE IN THE BDI - BRS
A sharp increase in the BDI this week, driven by the rise in Capesize rates. Overall the BDI was up 13.5% to 1,462 points on the back of a 20% surge ...
Monday, 22 August 11
INDONESIA TO BAN BELOW 5700 KCAL/KG COAL FOR EXPORT
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia is in the process of drafting a regulation which is requiring mine owners ...
Monday, 22 August 11
JATENERGY AGREED TO FORM JV WITH AN INDONESIAN COAL MINING COMPANY
COALspot.com - Australian’s listed company, Jatenergy Limited has entered conditional agreement to form joint venture with Indonesia’s c ...
Monday, 22 August 11
NTPC TO IMPORT 16 MILLION TON OF COAL TO BRIDGE THE GAP
COALspot.com - NTPC to import 16 million tons of imported coal, which is equivalent to 23-24 million tons of Indian coal to bridge the gap.
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- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- PTC India Limited - India
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
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