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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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Friday, 26 September 14
NEWCASTLMAXES ARE THE MOST SOUGHT AFTER VESSELS BY SHIP OWNERS TODAY SAYS VESSELS VALUE
KNOWLEDGE TO ELEVATE
Determining a ship’s fair value can be a very tricky business, especially when you’re the one paying. As such ...
Thursday, 25 September 14
LACK OF COAL BUSINESS PUSHING DOWN PANAMAX EARNINGS IN PACIFIC
Handy
In the Atlantic we see rates steady climbing upwards. More coal cargoes out of USG and USEC are helping the TA market which is up some USD ...
Wednesday, 24 September 14
ADARO AGREED TO REDUCE ITS CONCESSION AREA TO 31,379.8 HECTARES
COALspot.com: PT Adaro Energy Tbk (Adaro Energy) today announced that, PT Adaro Indonesia (AI), its wholly owned subsidiary, entered into a M ...
Wednesday, 24 September 14
CAPESIZE: ACTIVITY IN BOTH BASINS WAS UNIMPRESSIVE
COALspot.com: The end of the week prior seems to have marked the tone for the days that followed, with the Dry Bulk market giving up a significant ...
Tuesday, 23 September 14
MEDCO TO INCREASE ITS COAL PRODUCTION NEXT YEAR
COALspot.com: PT Medco Energi Internasional is looking to increase its coal production next year, supported by the launch of operations at its Duta ...
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- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Xindia Steels Limited - India
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- The University of Queensland
- VISA Power Limited - India
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
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