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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, 25 February 15
PORT OF NEWCASTLE SHIPPED 13.16MT OF COAL IN JANUARY; DECLINED 16.70% FROM A MONTH AGO
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.15 billio ...
Wednesday, 25 February 15
BDI SLIPPING ONCE MORE TO FRESH HISTORICAL LOWS
COALspot.com: With the BDI slipping once more to fresh historical lows and the Chinese holidays underway, signs for a positive reversal in the Dry ...
Tuesday, 24 February 15
FOB INDONESIA COAL SWAP SET TO RALLY
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 rose week over week and month on month.
The Q2 swap increased US$ 3.30 (+7.30%) ...
Tuesday, 24 February 15
Q3' FOB RICHARDS BAY COAL SWAP CLOSED $59.80 W/E 20 FEB
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 surge month over month and decline week on week.
The Q2 swap has soar ...
Tuesday, 24 February 15
IHS ENERGY COAL CONFERENCE OF THE AMERICAS
Attend the IHS Energy Coal Conference of the Americas 17-19 March in Cartagena, Colombia and learn about timely concerns in today's coal indust ...
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- Central Java Power - Indonesia
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- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
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- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Deloitte Consulting - India
- Central Electricity Authority - India
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- GN Power Mariveles Coal Plant, Philippines
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- The State Trading Corporation of India Ltd
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- Bhushan Steel Limited - India
- Australian Coal Association
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- VISA Power Limited - India
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- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
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- Straits Asia Resources Limited - Singapore
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- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
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- Larsen & Toubro Limited - India
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- GAC Shipping (India) Pvt Ltd
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- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
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- Independent Power Producers Association of India
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- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
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- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
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- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
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- Interocean Group of Companies - India
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- CNBM International Corporation - China
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- CIMB Investment Bank - Malaysia
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- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
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- White Energy Company Limited
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- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
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- Toyota Tsusho Corporation, Japan
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- Ministry of Finance - Indonesia
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- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Siam City Cement PLC, Thailand
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- Intertek Mineral Services - Indonesia
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- GMR Energy Limited - India
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Indonesian Coal Mining Association
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
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