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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, 08 October 14
OIL COULD FALL TO USD80 BEFORE SHALE SUPPLY RESPONSE - FITCH
COALspot.com: Brent oil could fall as low as USD80 a barrel before triggering a self-correcting supply response with shale-oil drillers cutting inv ...
Wednesday, 08 October 14
IS THERE ANY BRIGHT SIDE ON THE DRY BULK SEGMENT? - YANNIS OLZIERSKY
In the movie “Life Of Brian”, a character on a nearby cross was singing the famous “Always look on the bright side of life” ...
Tuesday, 07 October 14
TAIPOWER TO IMPORT 525K MT OF LOW ASH AND EXTRA LOW SULFUR SUB-BITUMINOUS COAL
COALspot.com: Taiwan Power Company intends to procure 525,000 metric tons of low ash and extra low sulfur sub-bituminous coal for Taipower thermal ...
Tuesday, 07 October 14
SUB-BIT FOB INDONESIA COAL SWAP SHOWS A FLAT TO WEAK TREND THIS PAST WEEK
COALspot.com: Indonesian coal swaps November 2014 delivery flat week on week and gained US$ 0.10 (-0.20%) per mt day on day. The swap also lost US$ ...
Tuesday, 07 October 14
THE RIO TINTO CONFIRMS THAT NO DISCUSSIONS ARE TAKING PLACE WITH GLENCORE
COALspot.com: The board of Rio Tinto notes the recent press speculation regarding a possible combination of Rio Tinto and Glencore.The Rio Tinto bo ...
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- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Planning Commission, India
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Australian Coal Association
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Trasteel International SA, Italy
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