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