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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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Wednesday, 26 November 14
OVERSUPPLY OF TONNAGE PUSHED PANAMAX SEGMENT DOWN FOR ANOTHER WEEK
COALspot.com: The Dry Bulk market managed to reverse its course from the week prior and with the sole exception of the Panamax segment, we witnesse ...
Wednesday, 26 November 14
SHIPPING MARKET INSIGHT - EVA TZIMA
The tanker market has been enjoying some good returns lately. Ok, that may be a big understatement, but with all the ups and downs of the past year ...
Tuesday, 25 November 14
FISCAL BREAKEVEN OIL PRICES SHOW SOVEREIGN VULNERABILITY - FITCH
COALspot.com: The vulnerability of the sovereign credit profiles of net oil exporters, as shown by their fiscal breakeven oil prices, suggests that ...
Tuesday, 25 November 14
UK: TRIBUNAL RULES ON SPEED AND PERFORMANCE CLAIMS UNDER TWO CONSECUTIVE TIME CHARTERPARTIES - REED SMITH
KNOWLEDGE TO ELEVATE
“Owners not to be responsible if the vessel under the currency of this charter party stays at port or anchorage or ...
Tuesday, 25 November 14
FOB RICHARDS BAY COAL SWAP FOR Q4' 15 DELIVERY CLOSED AT US$ 68.20
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 gained month on month, week on week and day over day.
The Q1 swap has gain ...
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- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Central Electricity Authority - India
- White Energy Company Limited
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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