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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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Wednesday, 26 November 14
SHIPPING MARKET INSIGHT - EVA TZIMA
The tanker market has been enjoying some good returns lately. Ok, that may be a big understatement, but with all the ups and downs of the past year ...
Tuesday, 25 November 14
FISCAL BREAKEVEN OIL PRICES SHOW SOVEREIGN VULNERABILITY - FITCH
COALspot.com: The vulnerability of the sovereign credit profiles of net oil exporters, as shown by their fiscal breakeven oil prices, suggests that ...
Tuesday, 25 November 14
UK: TRIBUNAL RULES ON SPEED AND PERFORMANCE CLAIMS UNDER TWO CONSECUTIVE TIME CHARTERPARTIES - REED SMITH
KNOWLEDGE TO ELEVATE
“Owners not to be responsible if the vessel under the currency of this charter party stays at port or anchorage or ...
Tuesday, 25 November 14
FOB RICHARDS BAY COAL SWAP FOR Q4' 15 DELIVERY CLOSED AT US$ 68.20
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 gained month on month, week on week and day over day.
The Q1 swap has gain ...
Tuesday, 25 November 14
SUB-BIT FOB INDONESIA COAL SWAP FOR Q2' 15 DELIVERY CLOSED AT $ 49.55
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month, gained week on week.
The Q1 swap has lost US$ 0.12 (-0.24%) ...
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- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Australian Coal Association
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Parliament of New Zealand
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- Indonesian Coal Mining Association
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