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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, 15 October 14
SHIPOWNER NOT LIABLE FOR CARGO DAMAGE RESULTING FROM POOR STOWAGE - CLYDE & CO
KNOWLEDGE TO ELEVATE
Russian metal trading company Yuzhny Zavod Metall Profil (YZMP), the holder of a CONGEN 1994 bill of lading, took delivery o ...
Wednesday, 15 October 14
NEWCASTLE SHIPPED 13.96 MILLION TONS OF COAL IN SEPTEMBER; UP 5.72%
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1,227.7 wor ...
Tuesday, 14 October 14
KING COAL UNDER ATTACK? - EVA TZIMA
With the last quarter of the year being well underway and with no strong signs that the Dry Bulk market could be ready for a big positive reversal, ...
Tuesday, 14 October 14
THE NEW CHINESE TRANSPORTATION TAX LAW: WHAT DOES IT MEAN FOR GREEK SHIPPING? - DELOITTE
China has recently promulgated a new law which imposes tax on profits from freights of inbound routes. The objective of the new tax law titled &ldq ...
Monday, 13 October 14
CHINESE COAL IMPORT TARIFFS YET ANOTHER BLOW TO AUSTRALIAN COAL EXPORTS - TIM BUCKLEY
COALspot.com: China’s unexpected move to reintroduce thermal coal import tariffs of 6% will have a materially negative impact on the viabilit ...
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- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Australian Coal Association
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Xindia Steels Limited - India
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