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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, 16 October 14
PANAMAX OWNERS RECEIVE A PREMIUM FOR GOING TO INDIA VIA INDONESIA - FEARNLEYS AS
Handy
The Handy/Supra market continues to slide in both hemispheres, said Fearnleys AS in its latest week report. In the Atlantic we see rates co ...
Thursday, 16 October 14
ARE WE GOING TO SHOOT OURSELVES IN THE FOOT ONCE AGAIN? - PANOS MAKRINOS
As the East part of our globe was coming back from its October holidays last week, everyone expected that the Dry Bulk market would follow suit and ...
Wednesday, 15 October 14
PANAMAX: ACTIVITY IN THE PACIFIC WAS UNIMPRESSIVE
The Dry Bulk market noted another weekly decline last week, while the BDI moved below 1,000 points taking down with it expectations that a post hol ...
Wednesday, 15 October 14
INDONESIAN COAL PRICE REFERENCE FELL TO FRESH MULTI-YEAR LOWS IN OCTOBER
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price once again in October 2014.
...
Wednesday, 15 October 14
DRY BULK SHIPPING: RATE IMPROVEMENTS ARRIVED AS FORECAST, BUT UNCERTAINTY MOUNTS FOR 2015 DEMAND - BIMCO
BIMCO released its latest short term assessment of the dry bulk market, estimating that over the October-November period, the level of Capesize TC ...
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- Economic Council, Georgia
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
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