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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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Friday, 19 December 14
U.S WEEKLY COAL PRODUCTION REACHED APPROXIMATELY 19.8 MMST; UP 1.0% WOW
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.8 million short tons (mmst) of coal ...
Friday, 19 December 14
HANDY: SOFTER TONE; PANAMAX: QUIET WEEK; CAPESIZE; PAINFUL WEEK
Handy
A softer tone for rates and volumes for the Supras, perhaps less apparent in the Pacific the last week before the season holidays and good ...
Thursday, 18 December 14
INDONESIA TO REVISE UP COAL OUTPUT TARGET TO 460 MILLION TONS IN 2015
COALspot.com: Indonesian government has revised up its next year coal output forecast to 460 million tons from its previous forecast of 421 million ...
Wednesday, 17 December 14
CAPES RATES SLIPPED BELOW $5,600/DAY, FELL 84% YOY
COALspot.com: In the very rare occurrence when the BCI stands below the BDI, words to describe market sentiment are probably poor, said Intermodal ...
Wednesday, 17 December 14
MARKET INSIGHT - INTERMODAL SHANGHAI, SNP TEAM
As the end of the fourth quarter is approaching, we are all witness to the second hand market prices softening day by day. Any new deal surfacing t ...
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- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- The University of Queensland
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
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