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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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Thursday, 14 April 16
AUSTRALIAN MINING SERVICES SECTOR SQUEEZED BY MINERS' COST CUTS - FITCH RATINGS
Fitch Ratings says mining services companies' revenues and margins will remain under pressure as miners continue to focus on reducing costs ami ...
Thursday, 14 April 16
DRY BULKERS' PRICES COULD BE HEADING UPWARDS AS BUYERS' APPETITE INCREASES - HELLENIC SHIPPING NEWS
Investment sentiment is beginning to trend upwards in the market for second hand dry bulk carriers. According to the latest weekly report from ship ...
Wednesday, 13 April 16
U.S COAL PRODUCTION IS EXPECTED TO DECREASE BY 16 PER CENT IN 2016; THE LARGEST ANNUAL PERCENTAGE DECLINE SINCE 1958 - EIA
EIA estimates that U.S. coal production in March 2016 was 52 million short tons (MMst), a 2 MMst (4%) decrease from the previous month and 29 MMst ...
Tuesday, 12 April 16
INDONESIA COAL BENCHMARK PRICE INCREASES FOR SECOND STRAIGHT MONTH
COALspot.com: The Indonesia Coal Benchmark Price Increases For Second Straight Month in April 2016.
The Director General of Mine ...
Tuesday, 12 April 16
NO FURTHER SIGNIFICANT COAL PRICE DECLINES IN THE FUTURE - FITCH
COALspot.com: Fitch does not expect further significant coal price declines because producers sector-wide are suffering losses while China and Indo ...
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- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
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