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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, 26 April 16
INDONESIA BANNED COAL EXPORTS TO PHILIPPINES BY BARGES DUE TO SECURITY CONCERN
COALspot.com: The Ministry of Energy and Mineral Resources (ESDM) on behalf of the government of Indonesia has Freeze coal exports by barges to Phi ...
Tuesday, 26 April 16
NEWBUILDING DEMAND DOWN EVERYWHERE? - CLARKSONS
Newbuild activity provides one indication of an owner country’s likely future fleet growth, though secondhand sale and purchase and demolitio ...
Monday, 25 April 16
CHINESE STEEL PRICE SURGE NOT SUSTAINABLE - FITCH
The rapid increase in Chinese steel prices so far this year is not sustainable, as it is largely due to a seasonal pick-up in construction and elev ...
Monday, 25 April 16
WEEKLY CS (I) COAL INDICES END ALMOST FLAT
COALspot.com: Average 5000 GAR coal index of Indonesian origin up 0.05 percent week over week to averaging $38.67 per ton on this past Friday, acco ...
Monday, 25 April 16
BALTIC DRY INDEX ENDS WEEK ON A POSITIVE NOTE
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
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- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- Australian Coal Association
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- The University of Queensland
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Marubeni Corporation - India
- Latin American Coal - Colombia
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- The Treasury - Australian Government
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