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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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Thursday, 05 February 15
ULTRAMAX LEVELS FROM INDIA TO CHINA IN THE MID US$ 5000'S - FEARNLEYS AS
Handy
Despite the overall weak sentiment, there is a scent of optimism in the Atlantic market for ppt dates. Continent is still struggling with o ...
Wednesday, 04 February 15
MARKET INSIGHT - LINOS KOGEVINAS
It has been just about over 2 months since, in a move that surprised many and caused widespread apprehension, OPEC decided to maintain its producti ...
Tuesday, 03 February 15
Q1'15 FOB INDONESIA COAL SWAP CLOSED $ 3.29 HIGHER COMPARED TO Q4'15 DELIVERY PRICE
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 rose week over week and month on month.
The Q1 swap up US$ 0.68 (+1.41%) month o ...
Tuesday, 03 February 15
FOB NEWCASTLE COAL SWAP FOR Q4 DELIVERY CLOSED 5.86% LOWER THAN Q1 PRICE
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery rose US$ 0.26 per MT (+0.51%) week over week and declined US$ 0.02 (-0.04%) ...
Monday, 02 February 15
API 4 FOB RICHARDS BAY COAL SWAP ROSE WEEK OVER WEEK
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q1' 2015 declined month over month and day on day.
The Q1 swap has decli ...
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- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- The University of Queensland
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
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