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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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Friday, 22 April 16
U.S WEEKLY DOMESTIC COAL OUTPUT UP 8.2 PER CENT - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.1 million short tons (mm ...
Thursday, 21 April 16
PANAMAX: A VERY HEALTHY NORTH ATLANTIC FOR BOTH ROUNDS AND FRONTHAUL
Capesize
Correcting after last week's quadrupling.
This year's highest daily average of USD 8000 came on the back of substantial pro ...
Wednesday, 20 April 16
2017 IS EXPECTED TO BE A MUCH BETTER YEAR FOR THE SHIPPING INDUSTRY - INTERMODAL
Some months ago we noted that all projections anticipated 2016 to be a better year from a macroeconomic point of view when compared to 2015. As we ...
Tuesday, 19 April 16
STARS STILL SHINING? KEY IMPORTERS THROUGH THE TELESCOPE - CLARKSONS
As the pace of growth in Chinese seaborne imports has slowed, and prospects for a return to stronger rates of expansion appear to have diminished, ...
Monday, 18 April 16
INDONESIAN 5000 GAR COAL INDEX DECLINE 1.43 PERCENT WEEK OVER WEEK - CS (I) COAL INDEX
COALspot.com: Average 5000 GAR coal index of Indonesian origin fell 1.43 percent week over week to averaging $38.65 per ton on this past Friday, ac ...
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- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Australian Coal Association
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Minerals Council of Australia
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
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