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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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Thursday, 15 December 11
DRY BULK RATES TO REMAIN AT CURRENT LEVELS FOR THE MOST PART IN THE COMING MONTHS SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest research note, BIMCO said that the Capesize Time Charter Average will remain at USD 20,000-30,000 per day but the tonnage oversupply w ...
Wednesday, 14 December 11
MINER TOBA BARA SEJAHTRA PLANS IPO IN 1ST HALF OF 2012 - THE JAKARTA GLOBE
The Jakarta Globe reported that, Coal miner Toba Bara Sejahtra is aiming high next year, hoping to capitalize on renewed bullish sentiment in the lo ...
Wednesday, 14 December 11
TIMAH PLANS TO BOOST ITS COAL PRODUCTION TO TWO MILLION TONS PER ANNUM - SOURCES
COALspot.com - Timah plans to boost its coal production to two million tons per annum. The company also expects to acquire coal concession with mini ...
Wednesday, 14 December 11
BORNEO RESOURCE INVESTMENTS LTD. FINALIZES ACQUISITION OF INTEGRA PRIMA
COALspot.com - Borneo Resource Investments Ltd., announced that it has finalized the acquisition of an additional 1,300 hectare coal mining concessi ...
Tuesday, 13 December 11
BERAU COAL SCOUTS US$1.61 BIO SALES - INSIDER STORIES
Insider Stories reported that, coal mining company PT Berau Coal Energy Tbk (BRAU), that is 85% owned by London-listed company Bumi Plc, estimates a ...
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- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- PTC India Limited - India
- Georgia Ports Authority, United States
- Australian Coal Association
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
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