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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, 17 September 14
SHIPPING MARKET INSIGHT - GEORGE LAZARIDIS
Since the onslaught of 2013 the rising tide of asset prices had been primarily driven by the increasing freight market conditions and the improving ...
Tuesday, 16 September 14
INDONESIAN GOVERNMENT DECLARED HBA SUFFERED ANOTHER SETBACK IN SEPTEMBER
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price once again in September. HBA for ...
Tuesday, 16 September 14
INDONESIAN COAL OUTPUT WON'T EXCEED 421M TONS: GOVT - JP
The government is optimistic that it will meet its coal production target for this year, which caps nationwide production at a flat number compared ...
Monday, 15 September 14
CHINA'S COAL PROPOSALS LEAVE SOME HOPE FOR EXPORTERS - DAILY NEWS
When the best thing you can say about new policies is that they aren’t as bad as they could have been, then you know your industry is in deep ...
Monday, 15 September 14
SUB-BIT FOB INDONESIA COAL SWAP, JANUARY 2015 DELIVERY GAINED DAY ON DAY AND WEEK ON WEEK
COALspot.com: Indonesian coal swaps for average October 2014 increased US$ 0.40 (+0.78%) day on day and US$ 0.55 (+1.08%) per mt week on week. The ...
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- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Parliament of New Zealand
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
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