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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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Thursday, 26 March 15
KYUSHU ELECTRIC POWER OF JAPAN HAS JOINED GLOBALCOAL ONLINE COAL TRADING PLATFORM
globalCOAL® announced today that Kyushu Electric Power, one of Japan’s largest utility companies, has joined its online coal trading plat ...
Wednesday, 25 March 15
MARKET INSIGHT: TANKER CHARTERING - KATERINA RESTIS
The 1st of January 2015, as broadly reported, denoted the beginning date of new and progressive emission regulations for vessels operating within t ...
Wednesday, 25 March 15
AUSTRALIA SET TO ONCE AGAIN BE THE WORLD'S LARGEST COAL EXPORTER - COAL, MINERALS COUNCIL OF AUSTRALIA
Greg Evans, Executive Director - Coal, Minerals Council of Australia
Media Release: The latest Resources and Energy Quarterly published by the ...
Wednesday, 25 March 15
AUSTRALIA UPSTREAM ENERGY FIRMS FACE RISING OIL PRICE EXPOSURE - FITCH
Fitch Ratings says the Australian oil and gas companies involved in exploration and production face higher exposure to oil price-linked revenues, w ...
Wednesday, 25 March 15
2014 : UK COAL IMPORTS DECLINED 17%; GERMANY COAL IMPORTS UP 6%
Hard Coal Market 2014: Despite The Energy Turnaround, Hard Coal Imports To Germany Rise By More Than 6%, Although Hard Coal-Fired Power Generation ...
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- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- Eastern Energy - Thailand
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- White Energy Company Limited
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- The University of Queensland
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
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