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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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Friday, 19 August 11
INDIA IMPORTS LESS INDONESIAN COAL THAN CHINA IN JULY
COALspot.com - Indonesia shipped 31.30 Million tons of coal in July 2011, up by 10.69 percent compared to June's export of about 28.27 ...
Thursday, 18 August 11
INDONESIAS PROPOSED LOW GRADE COAL EXPORT BAN WILL NOT HAVE A SIGNIFICANT IMPACT ON INDIA - MISWIN MAHESH
COALspot.com - The Indonesian government is currently in the process of drafting a new regulation that could ban the export of low-grade coal by Jan ...
Thursday, 18 August 11
MARUBENI ACQUIRED 42.86% OF YTL JAWA POWER
COALspot.com - Marubeni Corporation (Marubeni) has completed the acquisition of 42.86 percent of the shares of YTL Jawa Power Holdings BV from YTL P ...
Wednesday, 17 August 11
CME LAUNCHES ARGUS COKING COAL SWAP FUTURES
COALspot.com - Argus media reported that, leading exchange CME Group will list an Australian coking coal swap futures contract for trading on the Ny ...
Wednesday, 17 August 11
TAVESCO KILLARA ENERGY TO ACQUIRE COAL CONCESSIONS IN EAST KALIMANTAN
COALspot.com - Killara Resources Limited, an Australian listed company has formed PT Tavesco Killara Energy (TKE), a joint company with PT Tavesco I ...
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- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
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