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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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Saturday, 28 March 15
THE DRY BULK FLEET AT BREAKING POINT - CLARKSONS
The severe oversupply in the bulkcarrier fleet has contributed to the current trough in the dry bulk market, putting considerable financial pressur ...
Friday, 27 March 15
INDONESIA: NEW REGULATION REQUIRES LETTER OF CREDIT FOR EXPORT OF PRODUCTS FROM NATURAL RESOURCES
The Minister of Trade issued Ministerial Regulation No. 04/M-DAG/PER/1/2015 (“Regulation No. 4/2015”) on 5 January 2015. Regulati ...
Friday, 27 March 15
WEEKLY U.S COAL OUTPUT FALLS 1.7% W-W; 7.9% Y-Y
COALspot.com – United States the world's one of the largest coal producers, produced approximately totaled an estimated 18.2 million ...
Thursday, 26 March 15
CHINA IRON ORE IMPORT FOR THE FIRST 2 MONTHS DECLINED BY 1.2 % Y-O-Y; PANAMAX AUSSIE/CHINA ROUNDS BEING FIXED IN THE $4 -5K RANGE - FEARNLEYS
Handy
There has been more activity in both hemispheres this week. Especially the USG market has picked up with more cargoes for prompter dates en ...
Thursday, 26 March 15
RATES FOR THE SMALLER SIZE SEGMENT CONTINUED TO IMPROVE LAST WEEK - INTERMODAL
To see green across the board is a rare occurrence in the Dry Bulk market nowadays and while the upside in which last week closed off is not of the ...
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- Minerals Council of Australia
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Parliament of New Zealand
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Deloitte Consulting - India
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
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