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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, 19 September 14
PRICES FOR DRY BULK CARRIERS HAVEN'T CORRECTED ENOUGH, DESPITE LOWER THAN EXPECTED FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A lot has been said and written about the looming dry bulk market recovery over the past few months. However, even if this hasn’t been materi ...
Thursday, 18 September 14
INDONESIA'S JULY COAL EXPORT VOLUME DROPPED 5.13% M-O-M
COALspot.com: Indonesia, one of the world's largest coal producer and the global leading multi grade coal exporter shipped around $1.65* ...
Thursday, 18 September 14
PANAMAX : US GULF/CHINA FRONTHAUL ARE NOW PAYING TYPICALLY 14.5K + 450K BB - FEARNRESEARCH
Handy
We still see a firming tendency in the Atlantic and it is still ECSA and USG leading on. USG/Cont now up in about USD 17/18k for a Smax whi ...
Thursday, 18 September 14
ELECTRONIC BILLS OF LADING: A GUIDE TO PAPERLESS TRADING WHICH HAS TAKEN THE SHIPPING INDUSTRY BY STORM
Bimco has recently developed and published a charter party clause that specifically addresses the use of electronic bills of lading. Increasing use ...
Wednesday, 17 September 14
PANAMAX: LIMITED INTEREST IN BOTH BASINS; RISING TONNAGE - INTERMODAL
With the week starting off at a fast pace and with the positive momentum from the previous Friday seemingly sticking around for a bit longer, most ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Australian Coal Association
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Parliament of New Zealand
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- The University of Queensland
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
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