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Friday, 29 August 14
CHINESE LIGNITE IMPORTS: QUANTITY OVER QUALITY? - CLARKSONS
 In the first half of 2014, Chinese seaborne coal imports declined 0.4% y-o-y to 148mt, largely reflecting a 3.3% fall in imports of steam coal. Meanwhile, imports of lignite (a low-quality coal), which have risen strongly over the last few years, have remained a bright spot. In the first six months of the year, Chinese lignite imports increased by more than 20% y-o-y to 36mt, said Clarksons in its latest report.
Indonesia Dominant
Clarksons further said, Lignite has played an increasingly important role in China’s coal imports since 2009. Used largely in power generation (but also in paper mills and in the manufacture of building materials), lignite has a relatively low heat content, but due to its low quality has been attractively priced. As shown on the Graph of the Month, Chinese lignite imports have surged from 3mt in 2008 to 59mt last year.
According to Clarksons , Indonesia is the major supplier of lignite to China, accounting for 97% of China’s imports last year, with the Philippines accounting for much of the remainder. While Chinese imports of steam coal from Indonesia have also increased rapidly, the share of lignite in total coal imports from Indonesia has risen from 14% in 2009, to more than 50% in the year to date.
Driving Upwards
While favourable price dynamics have been the main factor supporting increasing steam coal and lignite imports, rapid growth in total coal consumption between 2008 and 2011 also provided some support. However, since 2012, growth in Chinese coal consumption has slowed notably, with total coal use up 0.7% y-o-y in 1H 2014. Meanwhile, the price differential between imported and domestic steam coal has narrowed, especially following several rounds of price cutting by domestic miners in July this year, said Clarksons.
As a result, imports of higher-quality steam coal (with a calorific value of over 5,000 kcal/kg) have become less competitive against domestic supplies. However, since lower-quality lignite has continued to be priced at a discount to higher-quality coal, power plants have kept costs down by continuing to use a blend of lignite and higher-quality coal in power generation, noted Clarksons.
Policy Risks
Consequently, Clarksons noted, the demand for imported lignite has remained relatively firm in the year to date, despite increasing efforts by the government to restrict imports of low-quality coal.
Last year, China re-imposed a 3% tax on lignite imports, but given the free trade agreement in place between China and ASEAN nations, volumes imported from Indonesia have been unaffected. Meanwhile, in July 2014, China introduced further regulations in some regions banning imports of low-quality coal transported a certain distance inland. However, a significant proportion of lignite is used in coastal power stations, many of which have geared their boilers towards using this type of coal.
Clarksons concluded that, so while recent efforts to restrict low-quality coal imports have not yet had a notable effect, regulatory trends may well limit lignite import growth in the longer-term. Yet in the short-term, favourable pricing and the current dependence of power plants on low-quality coal suggest that China’s lignite imports from Indonesia will continue to remain firm.
Source: Clarksons
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Tuesday, 09 September 14
WEAK M&A DESPITE ABUNDANT DISTRESSED INDONESIA COAL ASSETS - FITCH RATINGS
COALspot.com: Fitch Ratings says that a meaningful level of merger and acquisition (M&A) activity leading to a consolidation of the coal sector ...
Tuesday, 09 September 14
PORT OF NEWCASTLE SHIPPED 13.207 MTN OF COAL IN AUGUST; TRADE VALUE AROUND $1.17 BILLION
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.17 billio ...
Monday, 08 September 14
SUB-BIT FOB INDONESIA COAL SWAP UNDERPERFORMED LAST WEEK
COALspot.com: Indonesian coal swaps for average October 2014 decreased US$ 0.20 (-0.39%) day on day and US$ 1.60 (-3.04%) per mt week on week. The ...
Monday, 08 September 14
API 8 CFR SOUTH CHINA COAL SWAP FOR DELIVERY JAN'15 CLOSED AT US$ 66.30 PMT W/E 5 SEPTEMBER 2014; LOST 5.15% M-O-M
COALspot.com: API 8 CFR South China Coal swap for delivery in October 2014 decreased US$ 0.15 (-0.23%) day on day and US$ 2.05 (-3.04%) week on wee ...
Monday, 08 September 14
CHINESE IRON ORE IMPORT DEMAND VERY STRONG - COMMODORE
COALspot.com: 30 dry bulk vessels were chartered in the spot iron ore market last week to haul iron ore import cargoes to Chinese buyers.
Acco ...
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- Orica Australia Pty. Ltd.
- Economic Council, Georgia
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- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
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- SMC Global Power, Philippines
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- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
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- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
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