We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Tuesday, 15 October 13
CHINA COAL IMPORTS TO KEEP GROWING IN THE YEARS TO COME, ALBEIT AT A SLOWER RATE - EVA TZIMA / NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest monthly report, shipbroker Intermodal highlighted the growing role of coal in the energy mix. According to Intermodal's research analyst, Eva Tzima, "since the beginning of 2013, there has been a lot of debate as for what the future might hold for the trade of coal. The majority of coal production is used to fuel coal-fired power plants in the form also known as thermal coal. Coal, which is today the source that feeds almost 40% of global electricity requirements, has been the fastest growing energy source since the beginning of the 21st century, ac-cording to the International Energy Agency. It’s been mainly on the back of developing economies, like those of China and India that the traded volume of the commodity has witnessed a rapid increase. With China being globally the biggest producer and consumer of thermal coal, the demand for the latter has been inextricably linked with that of economic growth in the world’s second largest econo-my. As the rate of Chinese economic growth has been slowing down, so has the rate of coal consumption, while at the same time, due to its non green nature, the popularity of coal as an energy source has been gathering less and less supporters worldwide", she noted.
Tzima added that "despite the fact that China has been sitting on trillions of tonnes of reserves and therefore local appetite for coal has been historically satisfied onshore, as of the end of 2008 the country’s coal imports have started to increase at a very fast pace. The big beneficiary of this trend was no other than the dry bulkers, as the majority of those imports is realized by seaborne trade. Last year alone the an-nual increase of imported amounts of coal into China touched al-most 60% compared to those of 2011. As we head into the final quarter of 2013 it seems that an even higher figure of imports will be printed, proving that the trend is still strong. A little less than one third of Chinese coal imports is currently being satisfied by Indonesian reserves, while other Pacific region countries like Australia and Vietnam also account for substantial portions".
According to Intermodal's analyst, "the question that naturally comes to mind is why turning to offshore supplies for coal when the commodity is plentiful right there in your court? The answer is simple; Price. The cost of producing and transporting coal domestically has been higher than importing it. But as the country’s imports have continued to rise and its economy has gone into a slower gear, Chinese stockpiles have also increased significantly, fact which in its turn has put significant pressure on local prices. Since January alone, coal prices in China have softened more than 15%. As local prices have been softening a lot of reports have surfaced warning about possible pressure on coal imports going forward. On top of that, the Chinese government, in its effort to pursue more environmental friendly policies, could also weigh down on the future quantity of coal cargoes imported. The energy targets initially set forth by the government, as part of its overall pollution control plan, included both a ceiling on the imported volume and use, as well as a floor on the quality of coal consumed in the coun-try, adding further to the negative sentiment around coal usage altogether", Tzima noted.
"So, will the trade of coal start burning low in the Pacific region? I would think that most probably not. On the one hand the infrastructure modernization needed, should the government keep pushing for lower emissions of CO2, will add on to the cost of Chinese pro-duction. This will be reflected on the price of locally produced coal, restricting the gap between domestic and international prices to narrow down to a point where imports would no longer make economic sense. On top of that, while local coal prices have been softening, the same has happened to coal prices globally and even at a higher degree, so the price incentive for Chinese demand to dis-tant itself from imports doesn’t appear to be there. At the same time what originally started as a very solid plan to cap imported quantities has slowly been revised to a less strict policy, which doesn’t seem as hurtful for imports as it was in its initial form. This revision shows that cheaper energy sources are likely to hold centre stage, as it seems quite possible that the Chinese government would chose to partly sacrifice its “Green” targets for its “Growth” targets. In fact while it has pledged to reduce the country’s coal usage to 65% of its total energy mix, a 2% reduction from what it is today, it hasn’t set a specific amount of coal consumption. This means that under the current plan, the Chinese will still allow for growth in coal consumption should the country’s energy needs continue to rise. But will they do? In my view the fact that the Chinese government has compromised with slower economic growth targets for a longer period of time, in order to ensure the sustainability of that growth, in itself is supportive of firm on-going energy consumption within the country. Following the path of slower but more sustainable growth, energy consumption should be maintained at its current growth levels rather than exhaust itself in the medium term follow-ing strong but short-lived periods of overconsumption.
So despite the fact that King Coal might be facing some opposition, it seems that the Chinese will continue to be supportive of both imports and consumption of the commodity. And unless dramatic action is taken by their government, imports should keep increasing in the next years. This will almost certainly be an increase at a slower rate, but an increase nevertheless, as cheaper options of the commodity will be still made available through seaborne trade in the Asia-Pacific region, allowing for coal to keep burning hotter for a longer period than what some might chose to think...", Tzima concluded
Research Analyst - Eva Tzima
Source: Nikos Roussanoglou, Hellenic Shipping News
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Monday, 10 February 14
Q1 2015, API 8 CFR SOUTH CHINA COAL SWAP CLOSED AROUND $ 2 HIGHER THAN Q2 14 PRICE
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 delivery lost 2.61 percent month on month and closed at US$ 77.28 per mt as on Frid ...
Monday, 10 February 14
SUPRAMAX STILL AT AROUND US$ 5K + BB 50K DELIVERY KALIMANTAN FOR A TRIP TO INDIA - CAPT. REDDY
COALspot.com: The BDI was down by 1.71 pct and closed at 1091 points week ended 7 February 2014. The BDI seemed to reach the bottom as the cape inde ...
Saturday, 08 February 14
U.S PRODUCED 84.5 MMMST OF COAL IN JANUARY; 2.05% UP MONTH ON MONTH, EIA SAYS
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.8 million short tons (mmst) of coal in ...
Friday, 07 February 14
DRY BULK MARKET ON ' REVERSE' MODE DUE TO CHINESE HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept its uninspiring mood throughout yet another week, with the Baltic Dry Index (BDI) hovering slightly above the 1,000-poi ...
Thursday, 06 February 14
INDONESIA'S BAN ON THE EXPORT OF RAW MINERAL ORES COMES INTO FORCE - INCE & CO
COALspot.com: On 12 January 2014, the ban on the export of unprocessed mineral ores came into effect in Indonesia. This ban enforces the Mining Law ...
|
|
|
Showing 3861 to 3865 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Posco Energy - South Korea
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
|
| |
| |
|
