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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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Wednesday, 17 August 11
BUMI'S H1 UNDERLYING OPERATING PROFIT $62 MILLION
COALspot.com - Bumi PLC , posted underlying first-half operating profit of $62 million and production at PT Bumi Resources and PT Berau increased to ...
Wednesday, 17 August 11
SHIP OWNERS COULD FACE PAIN ON THE BACK OF GLOOMY ECONOMYS PREDICTIONS - HELLENIC SHIPPING
The latest market turmoil, coupled with the renewed risk of a global recession could very well signal more troubled times for ship owners of all shi ...
Tuesday, 16 August 11
CHALLENGER ENTERED INTO CSPA WITH PELANGI KERTANEGARA TO ACQUIRE 100% STAKE
COALspot.com - Challenger Deep Resources Corp., through its wholly owned subsidiary, P.T. Bestindo Energy, has exercised its option to purchase an a ...
Monday, 15 August 11
ADARO ENERGYS NET INCOME MORE THAN DOUBLES IN FIRST HALF 2011
COALspot.com - Indonesian’s second largest coal producer, Adaro Energy, booked net profit US$ 268 million in the first half 2011, rose two-fol ...
Monday, 15 August 11
INDIAS MALABAR CEMENTS SEEK TO IMPORT 40,000 TONS OF COAL
COALspot.com - Malabar Cements Ltd., India's Keralaa government owned cement factory is seeking to import 40K metric tons of non-coking coal throug ...
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- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Aditya Birla Group - India
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Parliament of New Zealand
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Planning Commission, India
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