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Monday, 29 December 14
CHINESE COAL IMPORTS: REGULATORY RISKS? - CLARKSONS
 In recent years, Chinese seaborne coal imports have surged, registering average growth of 67% p.a. between 2009 and 2013 to total 265mt. However, this trend has not continued in the year to date, with seaborne coal imports into China down 7% year-on-year in the first ten months of 2014. Meanwhile, this year, China has introduced several regulations which may limit coal imports even further.
Falling Imports
In January-October 2014, Chinese seaborne steam coal imports (including lignite) fell 2% y-o-y to 161.4mt, partly as favourable weather conditions contributed to a surge in domestic hydro-power output, which reduced reliance on coal-fired power. Meanwhile, the availability of landborne coking coal from Mongolia has risen this year, following supply disruptions in 2013, which has led to a fall in seaborne imports. Furthermore, slower growth in Chinese steel production has contributed to a 23% y-o-y fall in coking coal imports in the year to date. Indonesia and Australia supply most of China’s coal imports, accounting for 45% and 37% of imports during this period. In the year to date, the fall in imports from Indonesia has accounted for 79% of the decline in Chinese coal imports, while imports from Australia have risen steadily.
Regulatory Review
Additionally, the recent introduction of new regulations may be starting to have an impact on imports. In September, China’s NDRC requested that major power producers contribute to a 40mt cut in steam coal imports in the remainder of 2014, which has partly reduced coal import demand. In mid-October, China introduced a 3% tax on coking coal imports and a 5-6% tax on steam coal imports, following on from the 3% lignite import tax put in place in September 2013. Although the taxes are aimed at supporting China’s domestic coal industry, the ASEAN free trade agreement (FTA), as well as the recently negotiated China-Australia FTA, may limit the impact on imports going forward, given that Indonesia and Australia together account for almost 80% of Chinese coal imports.
Future Prospects
There are also further restrictions which may affect imports from 2015. The NDRC will place limits on the quality of coal allowed to be produced, imported and sold, with stricter restrictions on coal transported more than 600km from port of entry to place of consumption. More stringent limits will be placed on the sale and use of coal in major coal consuming regions.
Given these limits, it seems likely that imports from Australia may be most affected. While some miners have indicated that they will be able to “wash” coal in order to meet restrictions, it is clear that China is taking steps to improve air quality and support domestic coal producers.
As a result, Chinese coal imports are expected to fall in 2015, although the extent of the decline is not yet clear. Since China has driven most of the recent growth in coal trade, total expansion may be slower in the short-term, compared to the double digit growth recorded in recent years. As such, the balance of the global picture appears to be shifting to India, where there remains significant potential for strong import growth.
Source: Clarksons / Hellenic Shipping News
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Tuesday, 10 March 15
OIL PRICE FORECASTING - IGNORE THE EXPERTS: COLIN MARSHALL
KNOWLEDGE TO ELEVATE
Experts put themselves on a pedestal, making claims to have special forecasting abilities for oil price trends. They, too ...
Tuesday, 10 March 15
FOB NEWCASTLE COAL SWAPS HEADING SOUTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 0.24 per MT (-0.47%) month over month and US$ 1.52 (-2.93%) we ...
Tuesday, 10 March 15
CFR SOUTH CHINA POWER-STATION COAL SWAPS DECLINE
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery fell US$ 0.42 (-0.74%) per MT month over month and declined US$ 1.00 &nbs ...
Monday, 09 March 15
INDONESIA GREETS INDIA RATE CUT AS GOOD FOR EXPORTS - GLOBEASIA
Indonesian commodity producers and economists have hailed the Indian central bank’s rate cut as good for boosting exports from Southeast Asia ...
Monday, 09 March 15
CHINA'S SUPREME COURT ISSUES NEW JUDICIAL INTERPRETATION ON SHIP ARREST AND JUDICIAL SALE OF SHIPS - GARD
KNOWLEDGE TO ELEVATE
China is not traditionally a popular jurisdiction for ship arrest. However, Members and clients with ships calling at por ...
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- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- White Energy Company Limited
- VISA Power Limited - India
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Economic Council, Georgia
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Commonwealth Bank - Australia
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