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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, 22 October 14
CAPESIZE MARKET REMAINED UNDER PRESSURE
COALspot.com: The Dry Bulk market closed on the red for yet another week although following Friday sentiment has started to improve on the back of ...
Tuesday, 21 October 14
INDIA'S DIESEL DEREGULATION POSITIVE FOR OIL COMPANIES - FITCH
The Indian government's 18 October decision to deregulate diesel prices will have a positive effect on the national oil marketing companies tha ...
Tuesday, 21 October 14
LOW DEMAND PUTTING COAL SWAPS UNDER PRESSURE
COALspot.com: Indonesian coal swaps for delivery Q4' 2014 lost on day, week and month.
The swap has lost US$ 1.57 (-3.04%) month on month ...
Monday, 20 October 14
CHINA'S ENVIRONMENTAL POLICIES DO NOT SPELL THE END FOR COAL - WOOD MACKENZIE
China's environmental policies do not spell the end for coal Analysis across energy commodities show coal still accounting for 64% of power mix ...
Monday, 20 October 14
CFR SOUTH CHINA COAL SWAPS FAILED TO PERFORM POSITIVE
COALspot.com: API 8 CFR South China Coal swap for Q4’ 2014 delivery decreased US$ 3.04 (-4.57%) month over month and US$ 1.75 (-2.68%) week o ...
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- Planning Commission, India
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- The University of Queensland
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- VISA Power Limited - India
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- White Energy Company Limited
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
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