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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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Sunday, 09 November 14
CAPE INDEX UP 3.06%; PANAMAX INDEX FELL 4.05%
COALspot.com: The BDI was almost at same levels compared to last week closing or just increased 0.77 pct from last week. The BDI was closed at 1437 ...
Friday, 07 November 14
U.S. PRODUCED 85.60 MILLION SHORT TONS OF COAL IN OCTOBER, UP 2.88% M-O-M
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.0 million short tons (mmst) of coal ...
Thursday, 06 November 14
THE ATLANTIC HAS REMAINED STRONG WITH A HEALTHY SUPPLY OF NEW CARGOES
Handy
This week has continued its slow trend in both hemispheres and even though rates are a bit up w-o-w it is not a clear sign for any improvem ...
Wednesday, 05 November 14
CAPESIZE SEGMENT ENJOYED FIRMING RATES ACROSS BOTH BASINS
Following a fantastic week in terms of rate performance for Capes, the Dry Bulk market managed to note another positive weekly closing, which stron ...
Wednesday, 05 November 14
SHIPPING MARKET INSIGHT - PANOS TSILINGIRIS
COALspot.com: The steep appreciation in dry bulker values between late 2012 and March 2014 resulted in unrealistically expensive ship values compar ...
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- Deloitte Consulting - India
- Parry Sugars Refinery, India
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Parliament of New Zealand
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- White Energy Company Limited
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Australian Coal Association
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
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