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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, 17 November 11
DRY BULK MARKET INCHES FORWARD AND INTO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market edged higher yesterday, on the back of stronger demand for Capesize vessels and general improvement of sentiment on most of the ...
Thursday, 17 November 11
KOMIPO INVITES BIDS FOR 500K MT OF COAL
COALspot.com - Korea Midland Power Co. Ltd.(KOMIPO) is inviting bids for the supply of 500,000 Metric Tons of minimum 5700 kcal/kg coal of NAR bases ...
Thursday, 17 November 11
INDONESIAN GOVERNMENT PLANS TO ISSUE MORATORIUM ON COAL MINING LICENSE
COALspot.com - Energy and mineral resources ministry is plans to issue a moratorium on the issuance of coal mining licenses, after the anti-graft co ...
Wednesday, 16 November 11
KRISHNAPATNAM PORT BECOMES DEEPEST DRAFT PORT IN INDIA
COALspot.com - Krishnapatnam Port in its quest to be the best port in India has increased its draft to 17.5 meters, according to E-Mail statement fr ...
Wednesday, 16 November 11
CHINA'S INDONESIA COAL IMPORTS RISE IN OCTOBER
COALspot.com: Indonesia, the world largest coal exporter, shipped 31,162,688 MT of coal in October 2011.
China was a largest importer of Indonesi ...
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- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Australian Coal Association
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
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