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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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Wednesday, 16 July 14
WEEKLY SHIPPING MARKET INSIGHT - INTERMODAL
Wake me up when September ends - Theodore Ntalakos
Since last September most thought that the worst was behind us. It looks like the market de ...
Tuesday, 15 July 14
INDONESIA'S TOTAL COAL PRODUCTION REACHED ANOTHER HIGH DURING THE FIRST SIX MONTHS; GOVERNMENT EXPECTED TO RAISE ROYALTIES
COALspot.com: Indonesia's total coal production reached 213 million tons during January through June, up by 7.6 percent y-o-y. Coal output in I ...
Monday, 14 July 14
THE END OF THE ERA OF HEAVY FUEL OIL IN MARITIME SHIPPING - ICCT
KNOWLEDGE TO ELEVATE
Since the 1960s, heavy fuel oil (HFO) has been the king of marine fuels. Viscous, dirty, yet inexpensive and widely avail ...
Monday, 14 July 14
SGX SUB-BIT FOB INDONESIA COAL SWAP FOR Q4' 14 DELIVERY CLOSED AT $ 54.80
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on day, week and on month according to AsiaClear OTC coal swap's reports re ...
Monday, 14 July 14
SGX CFR SOUTH CHINA COAL SWAP FOR Q3' 14 LOST 17.29% SINCE EARLY JANUARY 2014
COALspot.com: Coal price falling is continues as the impact oversupply and lower demand. API 8 CFR South China Coal swap for delivery in Q3 drops U ...
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- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Indian Oil Corporation Limited
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