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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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Saturday, 27 September 14
MORE COAL MINERS AGREE TO AMEND CONTRACTS - THE JAKARTA POST
The Energy and Mineral Resources Ministry is in a rush to beat a deadline for the conclusion of numerous memorandums of understanding (MoUs) with t ...
Friday, 26 September 14
INDIA SUPREME COURT RULING TO HIT STEEL, UTILITY EARNINGS, SAYS FITCH
COALspot.com: The 24 September Supreme Court of India (SCI) decision to cancel almost every coal block allocation since 1993 will have a negative f ...
Friday, 26 September 14
U.S WEEKLY COAL PRODUCTION FELL 1.8% WEEK OVER WEEK, SAYS EIA
COALspot.com – United States the world's one of largest coal producers, produced approximately 18.80 million short tons (mmst) of c ...
Friday, 26 September 14
ORACLE SIGNS EPC FRAMEWORK AGREEMENT WITH SEPCO FOR COAL MINE AND POWER PLANT IN PAKISTAN
COALspot.com: Oracle Coalfields PLC, the UK developer of a lignite coal mine and power plant in the south-eastern Sindh Province, Pakistan, has ann ...
Friday, 26 September 14
NEWCASTLMAXES ARE THE MOST SOUGHT AFTER VESSELS BY SHIP OWNERS TODAY SAYS VESSELS VALUE
KNOWLEDGE TO ELEVATE
Determining a ship’s fair value can be a very tricky business, especially when you’re the one paying. As such ...
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- Singapore Mercantile Exchange
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- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
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- White Energy Company Limited
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- Simpson Spence & Young - Indonesia
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- Economic Council, Georgia
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- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
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- Indian Energy Exchange, India
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- The University of Queensland
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- Power Finance Corporation Ltd., India
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- Tamil Nadu electricity Board
- London Commodity Brokers - England
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- Australian Coal Association
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- Electricity Authority, New Zealand
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- Meralco Power Generation, Philippines
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- The Treasury - Australian Government
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- Australian Commodity Traders Exchange
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- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
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- Energy Development Corp, Philippines
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- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Thai Mozambique Logistica
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- New Zealand Coal & Carbon
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- Planning Commission, India
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- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
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- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
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- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
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- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
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- Marubeni Corporation - India
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
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- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
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- Eastern Coal Council - USA
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- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
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- OPG Power Generation Pvt Ltd - India
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