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Thursday, 06 August 09
CHINA JULY COAL IMPORTS AT 9.5 MLN T, DEMAND FIRM
 * Coal imports at key ports in July 2.8 times year-ago levels
* July coal imports down nearly 40 percent from June
* China still buying overseas coal, mostly low-grade material
Alibaba reported that, China's coal imports in July fell nearly 40 percent from June's all-time high to around 9.5 million tonnes but were still the second-highest on record.
With Chinese buyers still actively buying low-grade thermal coal from Indonesia and coking coal from Australia, analysts and trade sources say Chinese imports could well stay high at least until September.
But buoyant imports from the world's largest coal producer and consumer may offer little lift to regional prices this time around, as rising production in China is expected put downward pressure on domestic prices, which would in turn cap overseas miners' offer prices.
China's coal imports that arrived at key ports in July were 2.8 times year-earlier levels, the Ministry of Transport said on its website (www.moc.gov.cn).
Since most of China's coal imports are seaborne, July's coal imports would be around 9.5 million tonnes, based on Reuters calculations.
"We've started to see renewed interest from the Chinese in recent weeks, especially for the low-rank coal, and many of them are keen to extend the supply contracts that have expired," said a source from a major Indonesian producer that has about 6-8 million tonnes of thermal coal into China in the first half of 2009.
"They are also scouting for bituminous coal, but the gap between their asking price and seller's offer price is too wide for any deals to get done."
In Australia, several large producers say enquiries for thermal coal have slowed to a trickle since mid-June, after a surge in freight and coal prices eroded the discount Australian supplies offered compared with domestic coal. Demand for coking coal, however, has remained strong.
"Previously the Chinese were re-stocking but now, they are buying because the steelmills have stepped up on production," said an Australian producer source.
For thermal coal, trade sources say China's ceiling price for imported coal is about $55 a tonne on a landed basis, based on coal with heating value of 4,800 kcal/kg (NAR), and buyers are willing to pay only about $75 on a C&F basis for bituminous coal, for coal with heating value of 6,322 kcal/kg (GAR).
Overall coal arrivals at the ports jumped 12.6 percent to 48 million tonnes. Domestic coal arrivals still fell from year-ago levels, albeit at a lower pace, the ministry said, without giving details.
ABSORBING INDONESIA'S EXCESS
Part of the reason why China is again able to book fresh tonnage from Indonesia at low prices stems from a recent build in coal stocks, which is prompting miners to sell coal at low margins.
An easing in freight rates over the past couple of weeks has also made imported coal from Indonesia more competitive. Freight rates from Indonesia's Kalimantan to ports in southern China are hovering between $10 and $11 a tonne.
A slowdown in demand from Japanese buyers for high quality coal, combined with strength in Chinese buying over the April-May period had prompted several key producers to adjust their production mix to focus on sub-bituminous material.
But a slowdown in Chinese orders in June after a jump in freight rates, combined with better-than-expected production levels due to a long dry season, means producers are facing rising stockpiles and a limited sales market.
"There is a lot excess capacity and producers are now willing to sell at very low margins just to keep the cash flow going," said an Indonesian producer.
Source: Alibaba
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Monday, 27 July 09
MIDDLE EAST COAL TO MOVE ON $1B EAST KALIMANTAN PROJECT
The Jakarta globe reported that, Middle East Coal reiterated on Monday that it would push ahead its $1 billion development program for East Kutai Re ...
Monday, 27 July 09
SHORT AND ONE YEAR PERIOD RATES FOR SUPRAMAX WAS FIRM AT AROUND US$ 18, 000 -18,500 PER DAY
COALspot.com (Singapore): The Supramax charter rates up sharply last week (ended 24th July 2009), especially India / Far East region said, Capt ...
Monday, 27 July 09
COKING COAL, IRON-ORE LIKELY TO BENEFIT NON-INTEGRATED STEEL PRODUCERS
Economictimes reported that, The second half of the financial year 2008-09 was one of the toughest periods for steel companies, especially the non-i ...
Monday, 27 July 09
GMR ENERGY BUYS EMCO POWERGEN SUBSIDIARY
DNA India reported that, Thane-based transformer manufacturer Emco Ltd has sold its stake in unlisted power generation subsidiary Emco Energy to Ban ...
Sunday, 26 July 09
CESC PLANS 2000 MW POWER PLANT IN BIHAR
Jai Bihar reported that, RPG flagship company CESC Ltd on Friday unveiled its plan to set up a 2,000 MW power generation plant at Pirpainti near Bha ...
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- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
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- PNOC Exploration Corporation - Philippines
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- Electricity Authority, New Zealand
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- Planning Commission, India
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- Carbofer General Trading SA - India
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- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- PTC India Limited - India
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
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- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
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- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
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- Therma Luzon, Inc, Philippines
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- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
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- Petrochimia International Co. Ltd.- Taiwan
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- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
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- PowerSource Philippines DevCo
- Sical Logistics Limited - India
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- Coal and Oil Company - UAE
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- Altura Mining Limited, Indonesia
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- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
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- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
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- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
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- Kobexindo Tractors - Indoneisa
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- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
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- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
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- New Zealand Coal & Carbon
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- White Energy Company Limited
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- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
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- Indo Tambangraya Megah - Indonesia
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- Wilmar Investment Holdings
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- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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