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, 13 January 14
INDONESIAN ORE BAN TO HAVE LIMITED IMPACT ON CHINESE ALUMINIUM PRODUCERS, FITCH RATINGS SAYS
COALspot.com: Fitch Ratings says today that Indonesia's ban on exports of unprocessed mineral ore will have limited impact on Chinese aluminium pro ...
Sunday, 12 January 14
THE FREIGHT MARKET CONTINUE TO REMAIN WEAK NEXT WEEK - SOLYM CARRIERS
Wish You A very Happy New Year
COALspot.com: The market has dropped quite a lot as expected due to holidays and probably also the effect of ban o ...
Friday, 10 January 14
DECISION ON ORE EXPORT BAN WILL BE MADE TOMORROW: INDUSTRY MINISTER, JG SAYS
Industry Minister M.S. Hidayat dismissed reports on Thursday that the government had made a decision on the matter. “We will only make a decis ...
Friday, 10 January 14
US COAL PRODUCTION UP 5.8% ON WEEK IN WEEK ENDED SATURDAY 4 JANUARY
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.8 million short tons (mmst) of coal in ...
Thursday, 09 January 14
THE INDONESIAN GOVERNMENT EASES ORE EXPORT BAN
COALspot.com: The Indonesian government has finally agreed to ease the ore-export ban just a few days before the Sunday deadline amid protests from ...
|
|
|
Showing 3911 to 3915 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
|
| |
| |
|
