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Tuesday, 03 March 15
INDIAN THERMAL COAL IMPORTS: STEAMING FORWARD - CLARKSONS
 Coal-fired power stations comprise around 60% of India’s power output, and with domestic supply issues and favourable international coal prices, the country looks set to continue to rely on imports. In 2014, India’s thermal coal imports increased 15% to an estimated 162mt. Given that Chinese imports are likely to fall in the coming years, India could emerge as the largest seaborne importer of steam coal.
Tumbling Coal Prices
Indian thermal coal imports rose considerably in 2014, partly benefiting from the lowest coal prices in four years. Prices of Indonesian and South African coal, which accounted for 95% of Indian steam coal imports in 2014, fell 19% and 26% y-o-y respectively. Furthermore, the stabilisation of the Rupee in 2014 meant that Indian buyers were in a stronger position to exploit falling international coal prices. As such, in January-October 2014, imports from Indonesia rose 13% y-o-y, while shipments from South Africa rose 48% y-o-y.
A Strain On Supply
The increase in Indian steam coal imports was also supported by sluggish growth in domestic coal production in 2014. Output rose by around 5% y-o-y in 2014, far below growth targets and even further below the country’s overall electricity generation growth, which reached 9% in 2014. Legal and bureaucratic constraints and logistical bottlenecks limited domestic steam coal production growth, putting further downward pressure on the domestic coal supply. The Supreme Court’s cancellation of 200 mining licences in September 2014, amidst an ongoing license allocation corruption scandal, as well as the government’s inability to pass the Coal Mines Bill, also restricted coal production growth. As a result, import demand increased in order to help to meet energy needs. Coal India’s announcements that the country will completely cut thermal coal imports over the next 2-3 years contrast with the domestic supply situation and growing levels of consumption.
Low Stockpiles To Top It Off
Furthermore, dry weather conditions during the Indian monsoon season meant that the country’s hydro-electric power generation was hampered in 2014, leading to greater reliance on existing coal stocks. As such, stocks of thermal coal dropped to 7.8mt in October, the lowest level since November 2012, while the average number of power plants at ‘super critical’ stock levels (less than four days of use) rose 81% y-o-y, peaking at 38 stations. In order to replenish stocks during the monsoon season and meet domestic power demand, Indian coal-fired power stations ramped up imports during the months when they traditionally decline, between July and September.
So, critically low inventory levels, coupled with insufficient domestic production are likely to continue to push power station operators to turn to currently cheaply imported coal to fulfil their supply requirements. Indian thermal coal imports are thus projected to grow by a further 8% y-o-y to total 174mt in 2015, partly supported by an $8bn investment in existing port infrastructure. Given that Chinese imports are expected to decline in 2015, the global picture may be shifting towards India as the world leader in seaborne steam coal imports for the first time.
Source: Clarksons | Hellenic Shipping News
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Friday, 10 April 15
US COAL PRODUCTION FELL 4.7% W-O-W : EIA
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 17.4 million short ...
Friday, 10 April 15
DRY BULK MARKET'S DOWNFALL ALSO OFFER INVESTMENT BARGAINS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Dry bulk market rates have fallen to historical lows over the past few weeks, with no clear path of recovery, at least in the near term. As such, m ...
Thursday, 09 April 15
CAPESIZE: RATES ARE STILL DISAPPOINTING - FEARNLEYS
Handy
The handy market had a stronger sentiment before the Easter holidays, but have as the bigger panamaxes seen a softening tendency this week. ...
Wednesday, 08 April 15
DRY BULK MARKET SEEMS UNABLE TO CATCH A BREAK - INTERMODAL
COALspot.com: The Dry Bulk market seems unable to catch a break these days.
According to Intermodal, following the market stabilization that p ...
Wednesday, 08 April 15
CHINA BURNS HALF OF THE WORLD'S COAL - CHRISTOPHER T. WHITTY
Intermodal Weekly Market Update
China is the world's largest consumer of coal, using more coal each year than the United States, the Europ ...
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- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
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- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
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- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- White Energy Company Limited
- The University of Queensland
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Planning Commission, India
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
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