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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, 21 August 14
PREDICTIONS FROM VARIOUS SHIPPERS AND MINING INDUSTRY FOR 2ND HALF YEAR AND ESPECIALLY Q4 IS POSITIVE
Handy
The activity has increased in both hemispheres this week and we see rates edging up on all trades. TA´s are now paying around 8k whic ...
Thursday, 21 August 14
SHIP OWNERS KEEP SHYING AWAY FOR NEW SHIP INVESTMENTS, OVERALL TREND IS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners have remained in the sidelines of the Sale & Purchasing market for second hand vessels, during most of August, while they also slow ...
Wednesday, 20 August 14
DRY BULK MARKET TO REBOUND IN THE FOURTH QUARTER, OR NOT....- NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The projected rebound of the dry bulk market is still an elusive trend and shipbrokers and analysts are looking to identify the timing of the loomi ...
Monday, 18 August 14
CAPESIZE RATES TO RISE TO MUCH HIGHER LEVELS THIS YEAR - JEFFREY LANDSBERG
COALspot.com: Capesize rates ended last week at $15,561/day, which marked a week-on-week increase of $6,167 (66%). Capesize rates have been a ...
Monday, 18 August 14
SUB-BIT FOB INDONESIA COAL SWAP CLOSED AT $58.60 FOR SEPTEMBER 2015; UP $4 FROM SEPTEMBER 2014 CLOSING
COALspot.com: Indonesian coal swaps for average September 2014 decreased US$ 0.15 (-0.27%) day on day and US$ 0.75 (-1.36%) per mt week on week. Th ...
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- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- Australian Coal Association
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- PTC India Limited - India
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
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