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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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Wednesday, 28 January 15
CAPES CONTINUED THEIR UPWARD MOVEMENT LAST WEEK - INTERMODAL
COALspot.com: The Dry Bulk market displayed a mirror performance of that of the week prior, with the Capesize market correcting further upwards and ...
Tuesday, 27 January 15
Q1 FOB INDONESIA COAL SWAP CLOSED AT $ 47.87 FOR WEEK ENDING JAN. 23
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 gain week over week and declined month on month.
The Q1 swap has decline US$ 0.9 ...
Tuesday, 27 January 15
Q2 FOB NEWCASTLE COAL SWAP UP 4.5% W-O-W
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery declined US$ 0.28 per MT (-0.54%) month over month and increased US$ 1.23 ( ...
Monday, 26 January 15
OVERSUPPLY, AMPLE STOCKPILES, AND LACKLUSTER UNDERLYING STEEL DEMAND KEPT COKING COAL PRICES LOW IN 2014
COALspot.com: Coking coal prices (FOB & CFR) fell 15% and 18% respectively during the year, amidst persistent oversupply, ample inventory and s ...
Monday, 26 January 15
FOB RICHARDS BAY Q2 COAL SWAP CLOSED LOWER THAN Q1 CLOSING
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 fell ...
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- Central Electricity Authority - India
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- Edison Trading Spa - Italy
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- Vedanta Resources Plc - India
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Petron Corporation, Philippines
- Planning Commission, India
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- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
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- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
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- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
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- MS Steel International - UAE
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- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- VISA Power Limited - India
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- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
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- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
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- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
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- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
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- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
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- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- The University of Queensland
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
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- Mjunction Services Limited - India
- Australian Coal Association
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- Mintek Dendrill Indonesia
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- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
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- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
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- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
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- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
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- GAC Shipping (India) Pvt Ltd
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