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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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Thursday, 16 October 14
ARE WE GOING TO SHOOT OURSELVES IN THE FOOT ONCE AGAIN? - PANOS MAKRINOS
As the East part of our globe was coming back from its October holidays last week, everyone expected that the Dry Bulk market would follow suit and ...
Wednesday, 15 October 14
PANAMAX: ACTIVITY IN THE PACIFIC WAS UNIMPRESSIVE
The Dry Bulk market noted another weekly decline last week, while the BDI moved below 1,000 points taking down with it expectations that a post hol ...
Wednesday, 15 October 14
INDONESIAN COAL PRICE REFERENCE FELL TO FRESH MULTI-YEAR LOWS IN OCTOBER
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price once again in October 2014.
...
Wednesday, 15 October 14
DRY BULK SHIPPING: RATE IMPROVEMENTS ARRIVED AS FORECAST, BUT UNCERTAINTY MOUNTS FOR 2015 DEMAND - BIMCO
BIMCO released its latest short term assessment of the dry bulk market, estimating that over the October-November period, the level of Capesize TC ...
Wednesday, 15 October 14
SHIPOWNER NOT LIABLE FOR CARGO DAMAGE RESULTING FROM POOR STOWAGE - CLYDE & CO
KNOWLEDGE TO ELEVATE
Russian metal trading company Yuzhny Zavod Metall Profil (YZMP), the holder of a CONGEN 1994 bill of lading, took delivery o ...
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- Romanian Commodities Exchange
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- The University of Queensland
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- MS Steel International - UAE
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- PTC India Limited - India
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
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