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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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Saturday, 30 August 14
INDIAN GOVERNMENT SHOULD TAKE NOTICE: THERMAL COAL IMPORT PRICES EXTREMELY LOW - COMMODORE RESEARCH
COALspot.com: Both Indonesian and Australian thermal coal prices are at the lowest levels seen this decade, with Indonesia's monthly benchmark ...
Saturday, 30 August 14
RECOVERY IN SIGHT FOR THE DRY BULK SHIPPING MARKET - DREWRY SHIPPING CONSULTANTS
Despite weak freight rates so far this year, Dry Bulk shipping earnings are forecast to recover as demand for both major and minor bulk commodities ...
Friday, 29 August 14
U.S. WEEKLY COAL PRODUCTION DROPS 1.3 PERCENT, EIA SAYS
COALspot.com – United States the world's second largest coal producer, produced approximately 19.40 million short tons (mmst) of coal in ...
Friday, 29 August 14
ADARO'S PROFITS SINK FURTHER AMID FALL IN COAL PRICES - JP
Adaro Energy, one of the country’s largest coal miners, has reported a 31 percent drop in net profit in the first half of this year as global ...
Thursday, 28 August 14
PANAMAX: OWNERS CAN GET AROUND USD 16000 FOR A FRONTHAUL; PERIOD MARKET - VERY QUIET - FEARNLEYS
Handy
The activity and sentiment is improving in the Atlantic with the general TA rate is up about US$ 800 w-o-w. We see more South American carg ...
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- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
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