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