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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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Monday, 16 May 16
THE FREIGHT MARKET WAS WEAK AND ALL SEGMENTS EXCEPT PANAMAX WERE DOWN
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline this week.
The freight market was weak and a ...
Friday, 13 May 16
COAL CARGOES - SOME RECENT DEVELOPMENTS: SWEDISH CLUB
KNOWLEDGE TO ELEVATE
Indonesia continues to be amongst the world’s major exporters of coal, some 426Mt being traded in 2013 mostly to In ...
Friday, 13 May 16
US WEEKLY COAL PRODUCTION IS RUNNING 33% BELOW THE SAME PERIOD IN 2015 - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 10.9 million short tons (mm ...
Friday, 13 May 16
DRY BULK SHIPPING MARKET RECOVERY WILL BE A LONG, HARD-FOUGHT BATTLE - HELLENIC SHIPPING NEWS
Anyone who expects a strong rally in dry bulk market rates to end the industry’s downturn will be bitterly disappointed. By contrast – ...
Wednesday, 11 May 16
U.S. FORECAST COAL PRODUCTION IS EXPECTED TO DECLINED BY 150 MMST IN 2016; THE LARGEST DECLINE SINCE 1949 - EIA
COALspot.com: EIA estimates that U.S. coal production in April was 46 million short tons (MMst), a 6 MMst (12%) decrease from the previous month an ...
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- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Australian Coal Association
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- PTC India Limited - India
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- The University of Queensland
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
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