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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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Thursday, 28 August 14
BANPU REPORTS HIGHER FIRST-HALF YEAR RESULTS FOR 2014
COALspot.com: Banpu Public Company Limited (BANPU) reports higher first half-year financial results for 2014 having its gross profit increasing 3 p ...
Wednesday, 27 August 14
FREIGHT MARKET: IS THE MARKET IN A RECOVERY MOOD? - GEORGE ILIOPOULOS
Is the market in a recovery mood?
August is typically a time when the shipping industry takes it easy… charter-ers book their requireme ...
Tuesday, 26 August 14
4TH ANNUAL ASIA NICKEL
4th Annual Asia Nickel
19-20 Nov 2014
Grand Hyatt Jakarta, Indonesia
Web Site
Asia’s Premier Nickel Conference
Regulation in ...
Tuesday, 26 August 14
DESPITE LOW DRY BULK RATES, BULKER PRICES ARE STILL HIGH - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Traditionally, August tends to be a month of slow activity in the sale and purchasing market and this year has been no exception. However, as shipb ...
Tuesday, 26 August 14
GOVT ON TRACK TO LIMIT COAL OUTPUT - THE JAKARTA POST
The government has announced that it will proceed with plans to cap the production of coal next year, a move aimed not only at protecting the envir ...
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- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- White Energy Company Limited
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
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