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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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Friday, 30 January 15
CAN BULKER CONVERSIONS SPOIL THE TANKER MARKET'S PARTY? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Oversupply of tonnage has always been in the back of the head of ship owners when it comes to taking advantage of favorable market conditions. As s ...
Thursday, 29 January 15
CHINA ENERGY DEMAND MUST BE REVIEWED DUE TO FUNDAMENTAL ECONOMIC CHANGES - WOOD MACKENZIE
New patterns emerging as energy demand growth decoupled significantly from GDP growth for the first time in 2014
Wood Mackenzie says 2014 was ...
Thursday, 29 January 15
CAPE MARKET IS STILL STRUGGLING WITH LOW DEMAND AND LOW COMMODITY PRICES
Handy
Supramax rates are heading south with slipping rates all across the block. USG activity is slow with mid-week levels in the mid 8.000s, Fea ...
Wednesday, 28 January 15
MARKET INSIGHT - STELIOS KOLLINTZAS
With most traders having returned to action from year end festivities, we have already seen signs of activity in the specialized product markets. L ...
Wednesday, 28 January 15
CAPES CONTINUED THEIR UPWARD MOVEMENT LAST WEEK - INTERMODAL
COALspot.com: The Dry Bulk market displayed a mirror performance of that of the week prior, with the Capesize market correcting further upwards and ...
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- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- White Energy Company Limited
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Planning Commission, India
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- VISA Power Limited - India
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
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