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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, 30 December 14
INDIA INC TO BENEFIT AS IMPORTED COAL PRICES SET TO FALL - RAHUL PRITHIANI
The Hindu: India‘s coal import volumes are set to rise by over 30 per cent over the next two years to 214 million tonnes in 2015-16, as domes ...
Tuesday, 30 December 14
U.S WEEKLY COAL PRODUCTION ALMOST FLAT AT -0.2%
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.8 million short tons (mmst) of coal ...
Monday, 29 December 14
BULK MARKET ENDS YEAR ON SOUR NOTE, SHIPBROKER SEES 'BUMPY ROAD AHEAD' - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
2014 was supposed to be the year that the dry bulk market would stage a comeback and a sustainable one for that matter. However, while for the most ...
Monday, 29 December 14
Q1'15 CFR SOUTH CHINA COAL SWAP CLOSED AT $59.42
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased by US$ 3.51 (-5.58%) month over month and US$ 0.08 (-0.13%) ...
Monday, 29 December 14
SGX'S FOB NEWCASTLE COAL SWAPS IMPROVED W-O-W, LOST M-O-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery lost US$ 1.44 per MT (-2.73%) month over month and gained US$ 0.36 (+0.71%) ...
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- VISA Power Limited - India
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- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
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- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
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- Thai Mozambique Logistica
- The University of Queensland
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- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
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- Global Green Power PLC Corporation, Philippines
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- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
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- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
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- PNOC Exploration Corporation - Philippines
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- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
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- Independent Power Producers Association of India
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- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
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- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
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- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
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- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
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- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
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- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
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- Timah Investasi Mineral - Indoneisa
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- Tamil Nadu electricity Board
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- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Economic Council, Georgia
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
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- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Australian Coal Association
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- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
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- Parliament of New Zealand
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- Ministry of Mines - Canada
- Singapore Mercantile Exchange
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