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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, 19 February 15
PANAMAX: NOPAC AND AUSSIE ROUNDS ARE DONE IN LOW/MID $ 4000; TRIPS VIA INDONESIA TO INDIA CLOSER TO THE $5000 MARK - FEARNLEYS
Handy
The handy and supra market has not seen any firming rates in front of the Chinese New Year and still suffering on low activity in both hemi ...
Wednesday, 18 February 15
DRY BULK SHIPPING TO RECOVER IN LATE 2015 - DREWRY MARITIME RESEARCH
Strong trade growth, moderating fleet development and deployment of new fuel efficient vessels are expected to lead to a recovery in dry bulk shipp ...
Tuesday, 17 February 15
WHO PAYS THE SUEZ CANAL FEES? - INCE & CO
KNOWLEDGE TO ELEVATE
This was an appeal from an arbitration award on a point of construction in relation to the wording of an addendum to a ch ...
Tuesday, 17 February 15
BUOYANT WAVES IN RECENT YEARS: GLOBAL SHIP INVESTMENT SINCE THE CRASH - HELLENIC SHIPPING NEWS
Anxiety about fleet expansion is a recurring feature of world shipping markets. Within the global maritime community, worries about the vast amount ...
Tuesday, 17 February 15
FOB SUB-BIT INDONESIA COAL SWAP UP 8% MONTH OVER MONTH
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 rose week over week and month on month.
The Q2 swap up US$ 3.58 (+8.00%) month o ...
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- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
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