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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, 21 January 15
PANAMAX MARKET MOVED SIDEWAYS OVERALL LAST WEEK - INTERMODAL
COALspot.com: The positive sentiment in which the week prior ended carried on through-out last week as well, the end of which marked the first posi ...
Wednesday, 21 January 15
SHIFT IN INTERNATIONAL COAL TRADE TO THE PACIFIC BASIN WILL CONTINUE - IMF
COALspot.com: The shift in international coal trade to the Pacific Basin will continue, IMF said in its latest Medium-Term Coal Market Report.
...
Wednesday, 21 January 15
MARKET INSIGHT - VASSILIS LOGOTHETIS, INTERMODAL
The World Bank has lowered its forecast for global growth in 2015 to 3% down from its previous level of 3.4% amid rising concerns over the economic ...
Wednesday, 21 January 15
THERMAL COAL PRICE OUTLOOK DEPENDENT ON INDIAN IMPORT DEMAND - MATTHEW BOYLE, CRU
COALspot.com: Supply and demand side developments in India will be an important determinant of future market dynamics and prices for thermal coal a ...
Wednesday, 21 January 15
PORT OF NEWCASTLE COAL EXPORTS JUMP 16.19% ON MONTH TO 15.80 MIL MT IN DECEMBER' 14
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.136 billi ...
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- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
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