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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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Monday, 11 April 16
ON THE TIGHTROPE, IT CAN BE HARD TO KEEP YOUR BALANCE.... - CLARKSONS
Today’s headlines often point towards the impact of the demand side on the state of health of the shipping markets. But despite the fact that ...
Monday, 11 April 16
WEEKLY CS (I) COAL INDEX FOR 5700 GAR COAL UP 0.03 CENTS, OR ABOUT 0.06 PERCENT, TO $48.21 A TON
COALspot.com: Average 5000 GAR coal index of Indonesian origin fell 0.15 percent week over week to averaging $38.82 per ton on this past Friday, ac ...
Monday, 11 April 16
COAL IS NOT THE ENEMY TO FIGHT - ANDREA CLAVARINO, ASSOCARBONI
COALspot.com: “Coal is not the enemy to fight and electricity production from coal has an environmental impact in its lifecycle similar to na ...
Monday, 11 April 16
FORTY INDIAN COAL IMPORTERS UNDER THE DRI SCANNER FOR OVER-INVOICING : HINDU BUSINESS LINE
The Finance Ministry and the Directorate of Revenue Intelligence (DRI) of India are said to have stepped up investigations into the alleged over-in ...
Monday, 11 April 16
BDI ROSE TO ITS HIGHEST LEVEL IN FOUR MONTHS
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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- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- White Energy Company Limited
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
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