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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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Saturday, 14 February 15
SHALE GAS AND TIGHT OIL ARE COMMERCIALLY PRODUCED IN JUST FOUR COUNTRIES - EIA
KNOWLEDGE TO ELEVATE
The United States, Canada, China, and Argentina are currently the only four countries in the world that are producing com ...
Friday, 13 February 15
U.S. WEEKLY COAL PRODUCTION SHOWS 10% DECLINE
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.1 million short tons (mmst) of coal ...
Friday, 13 February 15
SMALL AND MEDIUM-SIZED SHIP OWNERS SQUEEZED OUT OF THE MARKET ON CRASHING DRY BULK MARKET AND EUROZONE CRISIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Financing issues have started to tighten the noose in the throats of small and medium-size ship owners, who were already facing problems over the p ...
Thursday, 12 February 15
CAPESIZE: THE BEST DESCRIPTION FOR THE MARKET IS, FLAT - FEARNRESEARCH
Handy
The handy and supra market is also being affected by the marginal volume of activity in the commodity sales. We see a small upturn in the T ...
Thursday, 12 February 15
DRY BULK OWNERS SCRAP MORE VESSELS, AS MARKET REACHES HISTORICAL LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has reached historical lows this week, with the Baltic Dry Index (BDI) now trading at levels below operating expense levels for ...
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- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- PTC India Limited - India
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Australian Coal Association
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
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