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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, 12 November 14
PANAMAX: WITNESSED A FAIRLY STABLE MARKET IN THE ATLANTIC
COALspot.com: Despite the fact that the Dry Bulk market noted another weekly increase, clouds of uncertainty returned mid-week onwards, as the mini ...
Wednesday, 12 November 14
SHIPPING MARKET INSIGHT - CHRISTOPHER T. WHITTY
COALspot.com: The fight continues between the low-cost iron ore producers and the big three: Vale, Rio Tinto and BHP Billiton. We are moving into a ...
Tuesday, 11 November 14
FACING CHALLENGES AND MEETING OPPORTUNITIES - INTERNATIONAL EPC CONFERENCE & EXHIBITION
Press Release: SKYCONNECTION and TRANSEVENT, which is fully supported by the Institution of Engineers Indonesia and Ministry of Industry of the Rep ...
Tuesday, 11 November 14
NEWCASTLE COAL SWAP CLOSED AT $ 52.65 FOR Q1' 15 DELIVERY
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery decreased US$ 2.83 (-5.10%) month over month and US$ 1.35 (-2.50%) week ove ...
Tuesday, 11 November 14
PORT OF NEWCASTLE'S OCTOBER COAL SHIPMENTS SLIPPED 7.40% M-O-M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1,115.7 mil ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
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- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
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- Ministry of Transport, Egypt
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- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
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- Indian Oil Corporation Limited
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- IEA Clean Coal Centre - UK
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- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
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- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Sakthi Sugars Limited - India
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Marubeni Corporation - India
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- Heidelberg Cement - Germany
- CNBM International Corporation - China
- ICICI Bank Limited - India
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- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
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- Independent Power Producers Association of India
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- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
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- AsiaOL BioFuels Corp., Philippines
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- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
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- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
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- The University of Queensland
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- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
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- Bulk Trading Sa - Switzerland
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- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
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- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
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- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
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- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
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- Deloitte Consulting - India
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