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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 $8bn investment in existing port infrastructure. Given that Chinese imports are expected to decline in 2015, the global picture may be shifting towards India as the world leader in seaborne steam coal imports for the first time.
Source: Clarksons | Hellenic Shipping News
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Tuesday, 10 March 15
OIL PRICE FORECASTING - IGNORE THE EXPERTS: COLIN MARSHALL
KNOWLEDGE TO ELEVATE
Experts put themselves on a pedestal, making claims to have special forecasting abilities for oil price trends. They, too ...
Tuesday, 10 March 15
FOB NEWCASTLE COAL SWAPS HEADING SOUTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 0.24 per MT (-0.47%) month over month and US$ 1.52 (-2.93%) we ...
Tuesday, 10 March 15
CFR SOUTH CHINA POWER-STATION COAL SWAPS DECLINE
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery fell US$ 0.42 (-0.74%) per MT month over month and declined US$ 1.00 &nbs ...
Monday, 09 March 15
INDONESIA GREETS INDIA RATE CUT AS GOOD FOR EXPORTS - GLOBEASIA
Indonesian commodity producers and economists have hailed the Indian central bank’s rate cut as good for boosting exports from Southeast Asia ...
Monday, 09 March 15
CHINA'S SUPREME COURT ISSUES NEW JUDICIAL INTERPRETATION ON SHIP ARREST AND JUDICIAL SALE OF SHIPS - GARD
KNOWLEDGE TO ELEVATE
China is not traditionally a popular jurisdiction for ship arrest. However, Members and clients with ships calling at por ...
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- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- The University of Queensland
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
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