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Wednesday, 04 May 16
COAL IMPORTS: A VOLATILE MATTER OR STILL POWERING DOWN? - CLARKSONS
 Chinese coal imports decreased significantly in 2014-15, and so far in 2016 the pace of decline appears to have slowed, with imports even recording positive y-o-y growth in March. The recent improvement has partly been supported by a reduction in domestic coal supply, and increased domestic coal prices, but can this slightly more positive momentum in
Chinese imports be sustained?
Domestic Coal Dominated
Chinese seaborne coal imports started to surge back in 2009, and China rapidly became the world’s largest coal importer, with imports topping 300mt in 2013. While this volume accounted for 24% of global seaborne coal trade, it only represented 7% of China’s total coal use, with the rest accounted for by domestic supply. Growth in imports was partly driven by higher domestic coal prices, which also led to firm expansion in Chinese coal production capacity during this period.
Slow Burner?
In the last ten years China has added an average of 320mtpa of new coal production capacity. While estimated 1.1bt of less efficient capacity was removed in 2006-15 (based on available reports), total coal production capacity still registered a net increase of around 3.0bt over the last ten years. Meanwhile, in 2012 the pace of growth in Chinese coal consumption started to slow, and coal use fell 4% in both 2014 and 2015, exerting pressure on domestic coal prices and reducing the price advantage of imported coal over domestic material. This, combined with environmental measures, limited demand for imported coal, and Chinese seaborne coal imports fell sharply by 11% in 2014, and 30% in 2015 to total 188mt last year.
Supply Slice
However, the recent focus on ‘supply-side’ reform in China’s industrial sector has led to a further drop in coal production this year, with output down 3% y-o-y in the first two months of 2016. This has contributed to an increase in domestic coal prices in recent months, and seaborne coal imports in March grew y-o-y for the first time in almost two years, rising 3%, with total imports in Q1 down 6%.
Capacity Challenges
Looking ahead, China aims to cut a further 0.5-1.0bt of coal production capacity between 2016 and 2020, and has halted new coal mine approvals for the next three years. While this may help reduce total production capacity, a significant volume of the 5.7bt of capacity is current idled or producing at a slower rate. A general improvement in domestic coal prices could lead to increased production from these mines, potentially offsetting the impact of further capacity closures.
So, oversupply in the coal sector is unlikely to be resolved rapidly. The domestic coal market has improved slightly in recent months, but given that imports account for a small share of China’s coal use, the balance between domestic output and consumption is likely to lead to short-term volatility in imports. Nevertheless, with coal consumption not expected to pick up significantly in coming years, partly reflecting a greater environmental focus, for now the most likely scenario is that pressure on imports will remain into the longer-term.
Source: Clarksons
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Tuesday, 17 May 16
INDONESIAN COAL PRICE REFERENCE DECLINE AGAIN
COALspot.com: The Indonesia Coal Benchmark Price declined in May 2016.
The Director General of Mineral and Coal of Indonesia, the regulator of ...
Tuesday, 17 May 16
CHINA THERMAL-POWER OVERSUPPLY TO WORSEN - FITCH
COALspot.com: The overcapacity in thermal-power generation in China is likely to worsen in 2016 to 2017, Fitch Ratings says in a new report.
F ...
Tuesday, 17 May 16
ON YOUR MARKS: TRACKING CHINESE TRADE - CLARKSONS
One of the major drivers behind the challenges currently facing many of the shipping markets has been slower demand growth. World seaborne trade gr ...
Monday, 16 May 16
INDONESIAN WEEKLY COAL INDICES AT POSITIVE LEVELS - CS (I) COAL INDEX
COALspot.com: Average 5000 GAR coal index of Indonesian origin up 0.31 percent week over week to averaging $38.94 per ton this past week, shows CS ...
Monday, 16 May 16
OPEC SEES RIVAL OIL PRODUCTION DECLINING
Crude Oil Price Movements
The OPEC Reference Basket averaged $37.86/b in April, a gain of $3.21 or 9.3%. This was 40% higher than the lows reache ...
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- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
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