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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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Monday, 27 October 14
CFR SOUTH CHINA COAL SWAPS PERFORMED POSITIVE THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q4’ 2014 delivery decreased US$ 1.68 (-2.55%) month over month and increased US$ 0.87 (+1.3 ...
Sunday, 26 October 14
CAPE'S STRONG PERFORMANCE PUSHES BDI INDEX UPWARDS
COALspot.com: The BDI was up by 26.27 pct and closed at 1192 points week and week. The Cape size performance has pushed up BDI and Cape size index ...
Friday, 24 October 14
WEEKLY U.S COAL PRODUCTION DOWN 2.7% FOR THE WEEK ENDING OCTOBER 18
COALspot.com – United States the world's one of largest coal producers, produced approximately 18.7 million short tons (mmst) of coal in ...
Thursday, 23 October 14
THE BEARS, HOWEVER, STILL CRY; FOR HOW LONG WILL IT LAST? - FEARNLEYS
Handy
"We experience a typical oversupply of ships in the Atlantic which causing rates to slide. In the USG it is just enough cargoes to kee ...
Wednesday, 22 October 14
MARKET INSIGHT - THEODORE NTALAKOS, INTERMODAL
ECO designs - revisited
The ECO vessels are already here but the oil and bunker prices are plummeting to their cheapest level since 2010. Is this ...
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- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- The University of Queensland
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- VISA Power Limited - India
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Aditya Birla Group - India
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
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