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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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Friday, 30 January 15
U.S. YEAR-TO-DATE COAL PRODUCTION REACHED 65.7 MMST
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.9 million short tons (mmst) of coal ...
Friday, 30 January 15
CAN BULKER CONVERSIONS SPOIL THE TANKER MARKET'S PARTY? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Oversupply of tonnage has always been in the back of the head of ship owners when it comes to taking advantage of favorable market conditions. As s ...
Thursday, 29 January 15
CHINA ENERGY DEMAND MUST BE REVIEWED DUE TO FUNDAMENTAL ECONOMIC CHANGES - WOOD MACKENZIE
New patterns emerging as energy demand growth decoupled significantly from GDP growth for the first time in 2014
Wood Mackenzie says 2014 was ...
Thursday, 29 January 15
CAPE MARKET IS STILL STRUGGLING WITH LOW DEMAND AND LOW COMMODITY PRICES
Handy
Supramax rates are heading south with slipping rates all across the block. USG activity is slow with mid-week levels in the mid 8.000s, Fea ...
Wednesday, 28 January 15
MARKET INSIGHT - STELIOS KOLLINTZAS
With most traders having returned to action from year end festivities, we have already seen signs of activity in the specialized product markets. L ...
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- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Planning Commission, India
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
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