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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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Monday, 26 January 15
API 8 CFR SOUTH CHINA COAL SWAP CONTINUE TO SLIDE M-O-M; ROSE W-O-W
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery declined US$ 0.79 (-1.33%) per MT month over month and gained US$ 2.10&nb ...
Sunday, 25 January 15
PANAMAX FREIGHT RATES STILL FALLING
COALspot.com: The BDI was slightly down this week to 720 points. The BDI lost 2.83 pct week on week.
The cape index continued its upward trend ...
Friday, 23 January 15
U.S. WEEKLY COAL PRODUCTION FOR WEEK ENDING JAN. 17 UP 2.5%
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.4 million short tons (mmst) of coal ...
Thursday, 22 January 15
PANAMAX: A SOFTER TONE AND OVERALL A SLUGGISH MARKET - FEARNLEYS
Handy
The handy and supra market has experienced yet another week with slow activity and softening rates in both hemispheres, broker Fearnleys AS ...
Thursday, 22 January 15
BUMI RESOURCES POSTS NET INCOME OF $13.3 MILLION 9M-2014
COALspot.com: Bumi Resources, Indonesia’s largest coal miner, reported today that, the company has recorded a net income of $13.3 million for ...
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- Interocean Group of Companies - India
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- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
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- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
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- Central Electricity Authority - India
- Romanian Commodities Exchange
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- Maheswari Brothers Coal Limited - India
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- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
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- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
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- Wilmar Investment Holdings
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- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
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- Globalindo Alam Lestari - Indonesia
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- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Ministry of Mines - Canada
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- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
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- Thai Mozambique Logistica
- Medco Energi Mining Internasional
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- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
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- India Bulls Power Limited - India
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- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
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- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
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- Vedanta Resources Plc - India
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- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
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- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
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- Price Waterhouse Coopers - Russia
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- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
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- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
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- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
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- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
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- Altura Mining Limited, Indonesia
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- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
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- MS Steel International - UAE
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- The Treasury - Australian Government
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- Miang Besar Coal Terminal - Indonesia
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