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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, 29 November 11
DRY BULK MARKET BEGINS WEEK ON HIGHER NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Contrary to what had been the case during the past few weeks, this one began on a high note for the dry bulk market, with the Capesize sector pullin ...
Monday, 28 November 11
CITING CONTRACTS, MINING FIRMS ARE NOT PAYING ROYALTIES UNDER LAW - THE JAKARTA POST
The Jakarta Post reported that, when the 2009 Law on Minerals and Coal was endorsed, hopes that Indonesia could maximize its revenue from the minera ...
Monday, 28 November 11
NEW ENVIRONMENTAL MARINE REGULATIONS TO IMPACT SHIPPING IN 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
August of next year will see some major changes for marine navigation. It’s when the North American ECA will come into force, introducing a 1% ...
Sunday, 27 November 11
INDIA'S KPCL TO IMPORT 50 MMT OF COAL FOR 10 YEARS
COALspot.com - Karnataka Power Corporation Limited (KPCL) will buy 5 million metric tonnes of coal annually for 10 years starting from 2015.
In a ...
Saturday, 26 November 11
INDIAN PORTS ARE BECOME COAL STOCKPILES..!!
COALspot.com - The Indian coal stocks and power tariff situation is the hot topic among the world coal producers as well as Indian coal importers.&n ...
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- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Energy Development Corp, Philippines
- The University of Queensland
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Australian Coal Association
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
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