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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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Thursday, 13 November 14
MODERN DRY BULK SHIPS' PRICES START FIRMING UP - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
While the main story of the past few weeks has been the rebound of the dry bulk market, which has been a result of increased Chinese iron ore impor ...
Wednesday, 12 November 14
PANAMAX: WITNESSED A FAIRLY STABLE MARKET IN THE ATLANTIC
COALspot.com: Despite the fact that the Dry Bulk market noted another weekly increase, clouds of uncertainty returned mid-week onwards, as the mini ...
Wednesday, 12 November 14
SHIPPING MARKET INSIGHT - CHRISTOPHER T. WHITTY
COALspot.com: The fight continues between the low-cost iron ore producers and the big three: Vale, Rio Tinto and BHP Billiton. We are moving into a ...
Tuesday, 11 November 14
FACING CHALLENGES AND MEETING OPPORTUNITIES - INTERNATIONAL EPC CONFERENCE & EXHIBITION
Press Release: SKYCONNECTION and TRANSEVENT, which is fully supported by the Institution of Engineers Indonesia and Ministry of Industry of the Rep ...
Tuesday, 11 November 14
NEWCASTLE COAL SWAP CLOSED AT $ 52.65 FOR Q1' 15 DELIVERY
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery decreased US$ 2.83 (-5.10%) month over month and US$ 1.35 (-2.50%) week ove ...
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- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Planning Commission, India
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Australian Coal Association
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Economic Council, Georgia
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
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