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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, 05 December 14
CHINESE SPECIAL STEEL MAKERS' RISK PROFILES MORE RESILIENT - FITCH
Fitch Ratings says the risk profiles of Chinese makers of special steel, especially high-end products, are more like those of manufacturers and mor ...
Friday, 05 December 14
U.S. YEAR-TO-DATE COAL PRODUCTION REACHED AROUND 905 MMST - EIA
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19 million short tons (mmst) of coal i ...
Thursday, 04 December 14
CAPE MARKET IS DEVELOPING FROM BAD TO WORSE
Handy
The Atlantic market has been pretty stable and balanced this week, Fearnleys AS says in its latest weekly report.
The broker furt ...
Thursday, 04 December 14
DRY BULK MARKET; ANOTHER DISAPPOINTING WEEK
COALspot.com: For those who have been hoping to see alignment of freight direction across the Dry Bulk market, this must have been another disappoi ...
Wednesday, 03 December 14
PROGRESSING SMELTER PROJECTS IN INDONESIA
Press Release: Indonesia’s ban on ‘raw mineral export’ that was designed to encouraging downstream investment in mineral processi ...
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- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
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- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- The University of Queensland
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Marubeni Corporation - India
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
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