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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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- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Australian Coal Association
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
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