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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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Tuesday, 16 September 14
INDONESIAN GOVERNMENT DECLARED HBA SUFFERED ANOTHER SETBACK IN SEPTEMBER
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price once again in September. HBA for ...
Tuesday, 16 September 14
INDONESIAN COAL OUTPUT WON'T EXCEED 421M TONS: GOVT - JP
The government is optimistic that it will meet its coal production target for this year, which caps nationwide production at a flat number compared ...
Monday, 15 September 14
CHINA'S COAL PROPOSALS LEAVE SOME HOPE FOR EXPORTERS - DAILY NEWS
When the best thing you can say about new policies is that they aren’t as bad as they could have been, then you know your industry is in deep ...
Monday, 15 September 14
SUB-BIT FOB INDONESIA COAL SWAP, JANUARY 2015 DELIVERY GAINED DAY ON DAY AND WEEK ON WEEK
COALspot.com: Indonesian coal swaps for average October 2014 increased US$ 0.40 (+0.78%) day on day and US$ 0.55 (+1.08%) per mt week on week. The ...
Monday, 15 September 14
CFR SOUTH CHINA COAL SWAP GAINED DAY ON DAY AND WEEK ON WEEK
COALspot.com: API 8 CFR South China Coal swap for delivery in October 2014 decreased US$ 2.30 (-3.36%) month over month, but increased day on day a ...
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- Gujarat Sidhee Cement - India
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- Price Waterhouse Coopers - Russia
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- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Simpson Spence & Young - Indonesia
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- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
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- Goldman Sachs - Singapore
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- Africa Commodities Group - South Africa
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- VISA Power Limited - India
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
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- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
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- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Planning Commission, India
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
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- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
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- Antam Resourcindo - Indonesia
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- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
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- Renaissance Capital - South Africa
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- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
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- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
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- Economic Council, Georgia
- The State Trading Corporation of India Ltd
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- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- Larsen & Toubro Limited - India
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- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
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- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
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- Bhatia International Limited - India
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- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
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- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
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- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
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- McConnell Dowell - Australia
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- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
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