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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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Tuesday, 13 January 15
MORE PITFALLS FOR OWNERS LOOKING TO TERMINATE FOR UNPAID HIRE - INCE & CO
KNOWLEDGE TO ELEVATE
It is a debatable point whether or not the obligation to pay hire under a time charter is a condition of the contract or ...
Tuesday, 13 January 15
Q2 CFR SOUTH CHINA COAL SWAP DECLINED 8.66% M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery declined by US$ 3.48 (-5.73%) month over month and US$ 2.35 (-3.94%) week ...
Tuesday, 13 January 15
Q1' 2015 RICHARDS BAY COAL SWAP SLIGHTLY HIGHER THAN Q2 & Q4 2015 SWAPS
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q1' 2015 lost month on month and week over week.
The Q1 swap has lost US$ 7.21 ...
Monday, 12 January 15
COAL: LOW PRICES ARE EXPECTED TO DRIVE A SUPPLY-DRIVEN RECOVERY IN THE MEDIUM TERM - SGX
COALspot.com: Thermal coal prices dropped to six-year lows in 2014 driven by persistent oversupply, SGX says in its “ Commodities 2014 - A ye ...
Monday, 12 January 15
FREIGHT MARKET: 2015 FLEET SUPPLY GROWTH IS EXPECTED TO REMAIN SLIGHTLY AHEAD OF CARGO GROWTH - SGX
COALspot.com: The dry bulk freight market was forced to digest a number of negatives in 2014 leading the Baltic Dry Index to fall 66% through the y ...
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- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- White Energy Company Limited
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
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