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Monday, 17 August 09
COAL IMPORTS SURGE IN H1
China is one of the world's leading coal producers. But even so, imports of coal have surged in the first half of the year, hitting a record in June. CCTV reporter tells us how this is putting pressure on the domestic industry.
At Guangzhou's port, workers are busy unloading imported coal, while many other ships wait in queue.
Guangzhou Port Worker said "The imported coal comes from Indonesia, Vietnam, and Australia. Imports have increased significantly since April, and have broken records since May."
Other major Chinese ports are also seeing surging coal imports. The coal producing province of Shanxi is seeing its effects.
Qu Sen, GM of Coal Department of Tianjin Jun'an Coal & Coke Chemical Co. said "Shanxi province was always exporting coal through Tianjin's port. But this year, the port is supplying coal to Shanxi. "
Industry insiders say surging imports will add pressure to the domestic coal industry.
Jiang Zhimin, Deputy Chairman of China National Coal Association said "Rising imports will squeeze the domestic market. With increasing output in the domestic coal industry, supply will exceed demand. Domestic coal enterprises will face some operational difficulties. They may suffer losses, lay offs or salary cuts. This will affect employment in the whole industry."
Statistics from the Ministry of Industry and Information Technology show coal net imports reached 36.6 million tons in the first half of the year. Net imports in June set a monthly record of 16 million tons.
Source: CCTV
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Monday, 17 August 09
CHINESE COAL PURCHASE COULD START A TREND
ABC Rural reported that, The takeover of a major Australian coal mining company by Chinese-owned Yanzhou has raised fears coal markets could be domi ...
Saturday, 15 August 09
TWO / THREE YEAR CHARTER RATES FOR SUPRAMAX IS AROUND US$ 15,000-16,000 PER DAY - VISTAAR SHIPPING
COALspot.com (Singapore): The dry bulk market continued to be soft in the beginning of the week, however towards to end of the week the BDI recovere ...
Friday, 14 August 09
ASIA GREEN TO SELL MORE COAL
I Stock Analyst reported that, Asia Green Energy Plc (AGE) aims to increase its coal sales by 20 percent to 1 million tonnes this year, given the gl ...
Friday, 14 August 09
INDONESIA COAL-PRICES FALL TO $74, INDIA EYES SEPT CARGOES
Reuters reported that, Prices of power-station coal from Australia fell to around $74 a tonne as demand eased, while Indian buyers started to look f ...
Friday, 14 August 09
GUACOLDA STARTS THIRD COAL-FIRED UNIT
Macorship reported that, Chile’s Empresa Electrica Guacolda said that the third unit at its Guacolda coal-fired power plant began supplying po ...
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- Indian Energy Exchange, India
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- Eastern Coal Council - USA
- GMR Energy Limited - India
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