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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, 07 April 16
BIMCO AND GIIGNL PUBLISH A GROUNDBREAKING VOYAGE CHARTER PARTY FOR LNG TRADE
BIMCO and the International Group of Liquefied Natural Gas Importers (GIIGNL) have today jointly issued the first definitive voyage charter party & ...
Wednesday, 06 April 16
HOW LONG SHIPPING CRISIS WILL BE; WHEN SHOULD OWNERS EXPECT THE BULK CARRIERS TO BECOME PROFITABLE? - INTERMODAL
It is the consensus that dry bulk shipping has been in a crisis for quite some time now. Bulk carrier values are at historical low levels, therefor ...
Tuesday, 05 April 16
DRY BULK REVISITS 1980S LOWS AND FACES UNCERTAIN LONGER TERM OUTLOOK - MSI | HELLENIC SHIPPING NEWS
With the market near bottom, attention is turning to the length of the downturn, the effect on asset values and the impact of broader demand side c ...
Monday, 04 April 16
THE LOADING, AND SUBSEQUENT DISCHARGE, OF UNSAFE NICKEL ORE - ALL TIME TO 'COUNT' - THE STANDARD CLUB
KNOWLEDGE TO ELEVATE
In a recent, published, London arbitration award the English tribunal has held that all time lost as a result of loading, ...
Monday, 04 April 16
INDONESIA CS57 COAL INDEX SLIDES SLIGHTLY WEEK OVER WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin fell 0.07 percent week over week to averaging $38.88 per ton on this past Friday, ac ...
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- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- ASAPP Information Group - India
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
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