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Friday, 29 August 14
CHINESE LIGNITE IMPORTS: QUANTITY OVER QUALITY? - CLARKSONS
 In the first half of 2014, Chinese seaborne coal imports declined 0.4% y-o-y to 148mt, largely reflecting a 3.3% fall in imports of steam coal. Meanwhile, imports of lignite (a low-quality coal), which have risen strongly over the last few years, have remained a bright spot. In the first six months of the year, Chinese lignite imports increased by more than 20% y-o-y to 36mt, said Clarksons in its latest report.
Indonesia Dominant
Clarksons further said, Lignite has played an increasingly important role in China’s coal imports since 2009. Used largely in power generation (but also in paper mills and in the manufacture of building materials), lignite has a relatively low heat content, but due to its low quality has been attractively priced. As shown on the Graph of the Month, Chinese lignite imports have surged from 3mt in 2008 to 59mt last year.
According to Clarksons , Indonesia is the major supplier of lignite to China, accounting for 97% of China’s imports last year, with the Philippines accounting for much of the remainder. While Chinese imports of steam coal from Indonesia have also increased rapidly, the share of lignite in total coal imports from Indonesia has risen from 14% in 2009, to more than 50% in the year to date.
Driving Upwards
While favourable price dynamics have been the main factor supporting increasing steam coal and lignite imports, rapid growth in total coal consumption between 2008 and 2011 also provided some support. However, since 2012, growth in Chinese coal consumption has slowed notably, with total coal use up 0.7% y-o-y in 1H 2014. Meanwhile, the price differential between imported and domestic steam coal has narrowed, especially following several rounds of price cutting by domestic miners in July this year, said Clarksons.
As a result, imports of higher-quality steam coal (with a calorific value of over 5,000 kcal/kg) have become less competitive against domestic supplies. However, since lower-quality lignite has continued to be priced at a discount to higher-quality coal, power plants have kept costs down by continuing to use a blend of lignite and higher-quality coal in power generation, noted Clarksons.
Policy Risks
Consequently, Clarksons noted, the demand for imported lignite has remained relatively firm in the year to date, despite increasing efforts by the government to restrict imports of low-quality coal.
Last year, China re-imposed a 3% tax on lignite imports, but given the free trade agreement in place between China and ASEAN nations, volumes imported from Indonesia have been unaffected. Meanwhile, in July 2014, China introduced further regulations in some regions banning imports of low-quality coal transported a certain distance inland. However, a significant proportion of lignite is used in coastal power stations, many of which have geared their boilers towards using this type of coal.
Clarksons concluded that, so while recent efforts to restrict low-quality coal imports have not yet had a notable effect, regulatory trends may well limit lignite import growth in the longer-term. Yet in the short-term, favourable pricing and the current dependence of power plants on low-quality coal suggest that China’s lignite imports from Indonesia will continue to remain firm.
Source: Clarksons
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Saturday, 06 December 14
MUNDRA PORT MAKES HISTORY BY HANDLING THE LARGEST BULK CARRIER TO CALL ON WEST COAST OF INDIA
COALspot.com: Adani Ports & SEZ Ltd, India’s largest port developer and part of Adani Group, yesterday said its Mundra Port successf ...
Friday, 05 December 14
CHINESE SPECIAL STEEL MAKERS' RISK PROFILES MORE RESILIENT - FITCH
Fitch Ratings says the risk profiles of Chinese makers of special steel, especially high-end products, are more like those of manufacturers and mor ...
Friday, 05 December 14
U.S. YEAR-TO-DATE COAL PRODUCTION REACHED AROUND 905 MMST - EIA
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19 million short tons (mmst) of coal i ...
Thursday, 04 December 14
CAPE MARKET IS DEVELOPING FROM BAD TO WORSE
Handy
The Atlantic market has been pretty stable and balanced this week, Fearnleys AS says in its latest weekly report.
The broker furt ...
Thursday, 04 December 14
DRY BULK MARKET; ANOTHER DISAPPOINTING WEEK
COALspot.com: For those who have been hoping to see alignment of freight direction across the Dry Bulk market, this must have been another disappoi ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Planning Commission, India
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
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