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