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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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Wednesday, 11 March 15
RICHARDS BAY COAL SWAPS DROP $ 3.65 - 4.0/T W-O-W
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 declined month over month and week on week.
The Q2 swap has fell US$ ...
Wednesday, 11 March 15
DRY BULK MARKET CLOSED OFF ON THE GREEN FOR A SECOND WEEK IN A ROW - INTERMODAL
COALspot.com: The Dry Bulk market closed off on the green for a second week in a row, while the performance of Capesizes hindered a more substantia ...
Wednesday, 11 March 15
MARKET INSIGHT : NEWBUILDINGS - PANOS TSILINGIRIS
From a cost-based, buy-low perspective, there is currently a buying opportunity in the second-hand dry bulk market. I am an anti-cyclical (buy-low) ...
Wednesday, 11 March 15
DRY BULK MARKET: ALL IS NOT LOST FOR A RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The low cost of commodities across the board could trigger an increase of trade among many countries, which in turn could lead to a recovery of the ...
Wednesday, 11 March 15
U.S. ELECTRIC GENERATING COMPANIES TO ADD MORE THAN 20 GW OF GENERATING CAPACITY IN 2015; 16 GW OF GENERATING CAPACITY IS EXPECTED TO RETIRE IN 2015
COALspot.com: In 2015, electric generating companies in U.S. expect to add more than 20 gigawatts (GW) of utility-scale generating capacity to the ...
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- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Deloitte Consulting - India
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
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