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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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Friday, 14 November 14
U.S. WEEKLY COAL OUTPUT SLIPS SLIGHTLY WEEK ENDING NOVEMBER 08
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.9 million short tons (mmst) of coal ...
Friday, 14 November 14
MORE NATURAL GAS FROM RUSSIA TO HELP STABILISE CHINA PRICES - FITCH RATINGS
COALspot.com: Fitch Ratings has said possible additional natural gas supplies from Russia's OAO Gazprom to China via the Altai pipeline would h ...
Thursday, 13 November 14
SLOWER AND LOWER HAS BEEN THE TREND OF THE PANAMAX IN BOTH HEMISPHERES - FEARNLEYS
Handy
We are experiencing an oversupply of tonnage in the Atlantic which is out numbering the amount of cargoes, Fearnleys broker says in its lat ...
Thursday, 13 November 14
DRY BULK MARKET'S REBOUND HINGES ON IRON ORE OVERSUPPLY ISSUES MOVING FORWARD - HELLENIC SHIPPING NEWS
“One man’s benefit, is another man’s demise” is a phrase which can be used to describe today’s situation in the dry b ...
Thursday, 13 November 14
COAL MINISTER WANTS INDIA TO STOP COAL IMPORTS IN TWO OR THREE YEARS
COALspot.com: India to ramp up coal production to a billion tonnes by 2019 from its current level of 490 million tones. According to Power and Coal ...
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- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
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- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
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- Kumho Petrochemical, South Korea
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- Chamber of Mines of South Africa
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- Energy Link Ltd, New Zealand
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- Medco Energi Mining Internasional
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- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
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- Gujarat Electricity Regulatory Commission - India
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- ICICI Bank Limited - India
- Ministry of Transport, Egypt
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- Planning Commission, India
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- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
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- Trasteel International SA, Italy
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- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Parliament of New Zealand
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- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
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- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
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- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
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- Interocean Group of Companies - India
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- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
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- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
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- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
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- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
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- Altura Mining Limited, Indonesia
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- Directorate General of MIneral and Coal - Indonesia
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- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
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- Aditya Birla Group - India
- Australian Coal Association
- The University of Queensland
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- Indika Energy - Indonesia
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- White Energy Company Limited
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- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
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- Ind-Barath Power Infra Limited - India
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- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
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- Petron Corporation, Philippines
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- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
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- Ministry of Finance - Indonesia
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- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
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