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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, 05 January 15
CFR SOUTH CHINA COAL SWAPS GAINED WEEK OVER WEEK, SGX DATA SHOWS
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased by US$ 2.50 (-4.02%) month over month and gained US$ 0.20 ( ...
Monday, 05 January 15
FIVE ENERGY SURPRISES FOR 2015: THE POSSIBLE AND THE IMPROBABLE - KURT COBB
The coming year is likely to be as full of surprises in the field of energy as 2014 was. We just don't know which surprises! I am not predictin ...
Monday, 05 January 15
THE SHIPPING MARKET IN 2014 AND LOOKING FORWARD - BIMCO
2014 started with plenty of optimism for a considerably better global economy and an improved shipping market. Things turned out somewhat different ...
Monday, 05 January 15
API 5 FOB NEWCASTLE COAL SWAP FOR Q1'15 DELIVERY CLOSED US$ 0.45 HIGHER COMPARED TO Q2'15 CLOSING
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery lost US$ 0.60 per MT (-1.15%) month over month and gained US$ 0.02 (+0.04%) ...
Sunday, 04 January 15
BALTIC DRY INDEX CONTINUES ITS DECLINE IN 2015
Wish you all a very Happy New Year 2015. The last report was dated 19th Dec 2014 and due to Christmas and new year holidays no reports were publish ...
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- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
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- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- White Energy Company Limited
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- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
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- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
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- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- The University of Queensland
- PTC India Limited - India
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
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- Mintek Dendrill Indonesia
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- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
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- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
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- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
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- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
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- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Price Waterhouse Coopers - Russia
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- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Australian Coal Association
- CNBM International Corporation - China
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- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
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- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
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- Parry Sugars Refinery, India
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- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
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- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
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- Planning Commission, India
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
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- VISA Power Limited - India
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
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- Bhoruka Overseas - Indonesia
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- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
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