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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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Sunday, 25 January 15
PANAMAX FREIGHT RATES STILL FALLING
COALspot.com: The BDI was slightly down this week to 720 points. The BDI lost 2.83 pct week on week.
The cape index continued its upward trend ...
Friday, 23 January 15
U.S. WEEKLY COAL PRODUCTION FOR WEEK ENDING JAN. 17 UP 2.5%
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.4 million short tons (mmst) of coal ...
Thursday, 22 January 15
PANAMAX: A SOFTER TONE AND OVERALL A SLUGGISH MARKET - FEARNLEYS
Handy
The handy and supra market has experienced yet another week with slow activity and softening rates in both hemispheres, broker Fearnleys AS ...
Thursday, 22 January 15
BUMI RESOURCES POSTS NET INCOME OF $13.3 MILLION 9M-2014
COALspot.com: Bumi Resources, Indonesia’s largest coal miner, reported today that, the company has recorded a net income of $13.3 million for ...
Wednesday, 21 January 15
PANAMAX MARKET MOVED SIDEWAYS OVERALL LAST WEEK - INTERMODAL
COALspot.com: The positive sentiment in which the week prior ended carried on through-out last week as well, the end of which marked the first posi ...
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- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- White Energy Company Limited
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- VISA Power Limited - India
- Deloitte Consulting - India
- PTC India Limited - India
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Planning Commission, India
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
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