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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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Sunday, 24 August 14
SEA FREIGHT MARKETS STARTING TO LOOK POSITIVE; CAPES DRIVE FREIGHTS HIGHER
COALspot.com: The freight market has strengthen further this week with BDI up 7.19 pct week on week. The BDI was closed at 1,088 points while the B ...
Friday, 22 August 14
INDIAN IRON ORE ROYALTY RISE NOT LIKELY TO HURT STEELMAKERS' MARGINS - FITCH
Fitch Ratings does not expect an increase in India's iron ore royalty rates to have a major impact on the profitability of steel producers in t ...
Friday, 22 August 14
ARBITRATION CLAUSE IN LOU HELD TO REPLACE CHARTERPARTY ARBITRATION CLAUSE
KNOWLEDGE TO ELEVATE
The Claimants had claims for cargo damage against the vessel Owners arising under four bills of lading. The vessel was th ...
Friday, 22 August 14
ICAP ENERGY LAUNCHES GLOBAL COKING COAL DERIVATIVES TRADING
First contract completed and cleared on CME
COALspot.com: ICAP Energy, the energy business of ICAP plc, announces today that it has successful ...
Friday, 22 August 14
U.S WEEKLY COAL PRODUCTION UP 2.4% WEEK OVER WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 19.60 million short tons (mmst) of coal in ...
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- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- The University of Queensland
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Bhatia International Limited - India
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
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