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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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- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Australian Coal Association
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- Aditya Birla Group - India
- Minerals Council of Australia
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- ASAPP Information Group - India
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
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