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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 $8bn investment in existing port infrastructure. Given that Chinese imports are expected to decline in 2015, the global picture may be shifting towards India as the world leader in seaborne steam coal imports for the first time.
Source: Clarksons | Hellenic Shipping News
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Thursday, 12 February 15
INDONESIAN COAL PRICE REFERENCE INCHED DOWN 1.44% IN FEBRUARY
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down Indonesian coal bench mark price this month to US$ 62.92 pe ...
Thursday, 12 February 15
NEWBUILDING ORDERING ACTIVITY DRAGS ON, AS OWNERS ARE LOOKING FOR LOWER PRICES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship owners appear to be waiting for lower prices in their dealings with Asian shipyards, as the dry bulk market is at historical lows. According t ...
Wednesday, 11 February 15
DRY BULK MARKET REMAINED UNDER PRESSURE : STABILIZING CAPE MARKET HARDLY HELPED SENTIMENT
COALspot.com: The Dry Bulk market remained under pressure last week, while the stabilizing Cape market hardly helped sentiment.
Greece based s ...
Wednesday, 11 February 15
BDI HITTING THE ALL-TIME LOW; FFA MARKETS NOT SHOWING ANY POSITIVE SIGNS
With the BDI hitting the all-time low and with FFA markets not showing any positive signs for a possible recovery in the near future, pessimism is ...
Tuesday, 10 February 15
IRON ORE MARKET TO REMAIN OVERSUPPLIED IN 2015: PRICE FORECAST $70/T - WOOD MACKENZIE
COALspot.com: With January witnessing the price of iron ore falling to its lowest levels since May 2009, Roger Emslie, Principal Metals & ...
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- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Trasteel International SA, Italy
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