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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, 02 October 14
CAPESIZE - DULL AND WITHOUT MUCH DIRECTION AS IRON ORE AND COAL VOLUMES FAIL TO LIVE UP EXPECTATIONS
Handy
After the recent weeks´ rate increase in the Atlantic we see Panamaxes snapping up handymax and Supra cargoes at much lower levels, p ...
Wednesday, 01 October 14
ASIAN THERMAL COAL PRICES TO REMAIN WEAK ON OVERSUPPLY - FITCH
COALspot.com: The thermal coal market in Asia will remain oversupplied in the next 12 months, in spite of on-going rationalisation of production, a ...
Wednesday, 01 October 14
PANAMAXES: DEFENSIVE, STRUGGLING TO KEEP ANY FURTHER DECREASES - INTERMODAL
COALspot.com: The Dry Bulk market seemed unable to shake off the trend of the week prior and the BDI remained on a downward slope for the bigger pa ...
Wednesday, 01 October 14
FITCH: GLOBAL ECONOMY FACES MULTI-SPEED RECOVERY, MULTIPLE RISKS
Fitch Ratings says in its latest Global Economic Outlook (GEO) that global growth will pick up in 2015 and 2016, but risks are weighted to the down ...
Tuesday, 30 September 14
COALVIEW TO PARTICIPATE AT MET COKE WORLD SUMMIT 2014 IN CHICAGO
COALspot.com: Coalview Ltd., LLC(“Coalview”) America's leading fully integrated coal technology and fine coal recovery company prov ...
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- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- The Treasury - Australian Government
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Planning Commission, India
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
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