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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, 17 February 15
FOB SUB-BIT INDONESIA COAL SWAP UP 8% MONTH OVER MONTH
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 rose week over week and month on month.
The Q2 swap up US$ 3.58 (+8.00%) month o ...
Tuesday, 17 February 15
Q2' FOB RICHARDS BAY COAL SWAP CLOSED AT $63.45; $ 1.85 HIGHER COMPARED TO Q4 CLOSING
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 surge month over month, week on week and day on day.
The Q2 swap has ...
Monday, 16 February 15
COAL MINING SLUMP A BLESSING IN DISGUISE - THE JAKARTA POST
The growth of the coal-mining industry, which has diminished in the last two years, is expected to slump even further this year following weakening ...
Monday, 16 February 15
FOB NEWCASTLE COAL SWAPS SURGE WEEK ON WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery rose US$ 1.31 per MT (+2.59%) week over week and US$ 4.35 (+9.13%) month on ...
Monday, 16 February 15
Q2' 15 - CFR SOUTH CHINA COAL SWAP ROSE 5.22% M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery rose US$ 2.88 (+5.22%) per MT month over month and US$ 1.08 (+1.90% ...
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- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- The University of Queensland
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
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