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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, 31 October 14
BUKIT ASAM'S NET PROFIT ROSE 27.42% FOR THE PERIOD JANUARY - SEPTEMBER 2014
COALspot.com: Publicly listed coal miner Bukit Asam reported solid profits in the first nine months of 2014 year.
Coal miner Bukit Asam manage ...
Friday, 31 October 14
U.S PRODUCED AROUND 19.3 MMST OF COAL IN A WEEK
COALspot.com – United States the world's one of largest coal producers, produced approximately 19.3 million short tons (mmst) of coal in ...
Thursday, 30 October 14
COAL & GRAINS SUPPORT PANAMAX AND IRON ORE SUPPORTS CAPES
Handy
The Atlantic market has been flat this week. Rates are up about US$ 200 from last week on the TA´s, but the volumes are about the sam ...
Thursday, 30 October 14
DOES A LOU ARBITRATION AGREEMENT FOR THE UNDERLYING CARGO CLAIM COMPLETELY REPLACE THE BILL OF LADING ARBITRATION CLAUSE? - INCE &CO
KNOWLEDGE TO ELEVATE
In the context of cargo claims brought under four bills of lading, the Commercial Court has recently considered whether a ...
Wednesday, 29 October 14
GOOD REASON WHY Q4 CAPESIZE OUTLOOK WAS SO BULLISH AT START OF THE YEAR - COMMODORE RESEARCH
COALspot.com: There was good reason why so many analysts' capesize outlook for Q4 was so very strong at the start of this year. Brazilian ...
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- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
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- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
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- Banpu Public Company Limited - Thailand
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- The State Trading Corporation of India Ltd
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- Anglo American - United Kingdom
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- Ministry of Transport, Egypt
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- Global Coal Blending Company Limited - Australia
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- Aboitiz Power Corporation - Philippines
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- The Treasury - Australian Government
- Minerals Council of Australia
- The University of Queensland
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
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- Ministry of Finance - Indonesia
- Planning Commission, India
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- Gujarat Mineral Development Corp Ltd - India
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- Australian Coal Association
- Metalloyd Limited - United Kingdom
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- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
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- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
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- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
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- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
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- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
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- Central Electricity Authority - India
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- San Jose City I Power Corp, Philippines
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- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
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- Chamber of Mines of South Africa
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- Orica Australia Pty. Ltd.
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- Maharashtra Electricity Regulatory Commission - India
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- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
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- Bayan Resources Tbk. - Indonesia
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- Indo Tambangraya Megah - Indonesia
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- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
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- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
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- Trasteel International SA, Italy
- Aditya Birla Group - India
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- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
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- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
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- Attock Cement Pakistan Limited
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- Videocon Industries ltd - India
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- Heidelberg Cement - Germany
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- Australian Commodity Traders Exchange
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- SN Aboitiz Power Inc, Philippines
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