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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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- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- Planning Commission, India
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- The University of Queensland
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