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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, 29 October 14
GOOD REASON WHY Q4 CAPESIZE OUTLOOK WAS SO BULLISH AT START OF THE YEAR - COMMODORE RESEARCH
COALspot.com: There was good reason why so many analysts' capesize outlook for Q4 was so very strong at the start of this year. Brazilian ...
Tuesday, 28 October 14
SGX'S FOB RICHARDS BAY COAL SWAP FOR DELIVERY Q1' 2015 CLOSED AT $ 68.07 ON 24 OCT
COALspot.com: API 4 FOB Richards Bay coal swap for Q4’ 2014 delivery decreased US$ 0.65 (-0.96%) month over month and increased US$ 1.79 (+2. ...
Tuesday, 28 October 14
SUB-BIT FOB INDONESIA COAL SWAP FOR Q1' 15 DELIVERY CLOSED 3.68% LOWER MONTH ON MONTH
COALspot.com: Indonesian coal swaps for delivery Q4' 2014 lost month on month and gained day on day and week on week.
The swap has lost US ...
Monday, 27 October 14
GOVT PROMISES TO EASE LICENSING PROCEDURES IN MINING SECTOR - THE JAKARTA POST
The Energy and Mineral Resources Ministry’s directorate general for mineral and coal plans to simplify the complicated licensing procedures i ...
Monday, 27 October 14
FOB NEWCASTLE COAL SWAP FOR Q1' 15 DELIVERY CLOSED $ 0.10 LESSER THAN Q4' 14 CLOSING OF $ 53.27 PMT
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2014 delivery decreased US$ 1.43 (-2.61%) month over month and increased US$ 0.05 (+0.09% ...
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- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- Australian Coal Association
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Planning Commission, India
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- The University of Queensland
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
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