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Friday, 24 July 15
THE IMPACT OF COLLAPSING CHINESE COAL IMPORTS - CLARKSONS
 Global seaborne coal trade is currently projected to drop 1% y-o-y in 2015, which would be the first annual decline in almost three decades. The driving force behind the slump has been a collapse in Chinese seaborne coal imports, which fell 40% y-o-y in the first five months of the year. This month’s Commodity Countdown explores the cause and implications of the drop in Chinese coal import demand.
Global seaborne coal trade is currently projected to drop 1% y-o-y in 2015, which would be the first annual decline in almost three decades. The driving force behind the slump has been a collapse in Chinese seaborne coal imports, which fell 40% y-o-y in the first five months of the year. This month’s Commodity Countdown explores the cause and implications of the drop in Chinese coal import demand.
The Hoover Losing Suction
China’s role in recent global coal trade has been to hoover up coal output and provide a seemingly bottomless source of demand to exporters around the world. Chinese imports accounted for a quarter of growth in seaborne coal trade in 2012 and 65% in 2013. However, as the graph shows, the country’s coal import demand has been in steady decline since the beginning of 2014 and with the acceleration of the downturn in the first half of 2015, China is likely to lose its leading position, while global seaborne coal trade is expected to record its first decline in decades.
The Prognosis
The majority of coal consumed in China is sourced domestically, meaning that even a small change in the country’s coal use can impact heavily on seaborne imports. With that in mind, Chinese coal fired power generation dropped 3% y-o-y in the first five months of 2015 on the back of the government’s measures to tackle air pollution. There have been a number of power plant closures in recent months, while Chinese importers became increasingly particular about their coal purchases, due to the introduction of a series of coal quality regulations. Correspondingly, Chinese thermal coal imports dropped 39% y-o-y in January to May to the lowest level for the period since 2011. Similarly, coking coal imports dropped 41% y-o-y in January to May, coinciding with the 1.3% y-o-y drop in steel production in 1H 2015. The drop has been largely attributed to easing infrastructure development and sluggish construction activity.
The Impact On Exporters
As China’s coal imports from seaborne suppliers have dropped across the board in the year to date, coal miners have been put under severe financial pressure. Indonesian miners have taken a particularly severe blow, with a large number forced to cut output. Total Indonesian coal production dropped 19% y-o-y in January to May, while shipments to China halved y-o-y. Elsewhere, while Australian miners are likely to benefit modestly from a free trade agreement signed in June, forecasts still indicate a difficult remainder of the year, following the 15% y-o-y drop in exports to China in January to May. Finally, while India is on course to become the leading seaborne coal importer in 2015, it is likely to fall considerably short of filling the demand gap left by China. As such, the impact of collapsing Chinese coal import demand on global coal trade is likely to be significant.
Source: Clarksons | Hellenic Shipping News
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Friday, 31 July 15
CAPE'S PAPER MARKET REMAINS FIRM - INTERMODAL
COALspot.com: The positive sentiment that the Dry Bulk market has been enjoying as of the previous month, was carried through last week as well, bu ...
Friday, 31 July 15
COAL PRODUCTION IN THE U.S. UP 3.6% FOR THE WEEK ENDING JULY 25
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.8 million shor ...
Friday, 31 July 15
CHINA'S NEW OIL IMPORT RULES HAVE MINIMAL IMPACT ON STATUS QUO - FITCH
Fitch Ratings says that China's looser criteria for crude oil import rights are a positive but modest step towards encouraging private-sector p ...
Thursday, 30 July 15
EFFECTS OF THE CHINESE STOCK MARKET CRISIS - INTERMODAL
All evidence is currently signaling that the Chinese stock market will be the newest hurdle for the global economy. With the world's second lar ...
Wednesday, 29 July 15
Q1'16 FOB INDONESIA COAL SWAP CLOSED HIGHER THAN Q3'15
COALspot.com: Indonesian coal swap for delivery Q3 2015 declined month on month and gains week over week, this past week.
The Q3 swap was decl ...
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- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Parliament of New Zealand
- London Commodity Brokers - England
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Economic Council, Georgia
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
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