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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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Monday, 15 September 14
CFR SOUTH CHINA COAL SWAP GAINED DAY ON DAY AND WEEK ON WEEK
COALspot.com: API 8 CFR South China Coal swap for delivery in October 2014 decreased US$ 2.30 (-3.36%) month over month, but increased day on day a ...
Sunday, 14 September 14
FREIGHT RATES RALLY AS DEMAND INCREASED
COALspot.com: The Baltic Dry Index (BDI) is a number (in US$) issued daily by the London-based Baltic Exchange up 2.25 percent week on week. BDI cl ...
Friday, 12 September 14
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALED 673.3 MMST, SAYS EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 19.20 million short tons (mmst) of coal in ...
Thursday, 11 September 14
THE PANAMAX MARKET IS TAKING A BREATHER - FEARNLEYS
Handy
We have experienced more activity in both hemispheres this week, said Fearnleys in this week's weekly report.
"We see rates c ...
Wednesday, 10 September 14
ARE GREEK BANKS ON THE VERGE TO START LENDING AGAIN? - JOHN N. COTZIAS
It is well known that Greek Banks had suffered severely after the economic crisis of 2008. From that period onwards, major changes have occur ...
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- Parliament of New Zealand
- The University of Queensland
- PTC India Limited - India
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
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- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
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- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
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- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- White Energy Company Limited
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- VISA Power Limited - India
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Australian Coal Association
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
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- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
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- SMG Consultants - Indonesia
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- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
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- Edison Trading Spa - Italy
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- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
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- London Commodity Brokers - England
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- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
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- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
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- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
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- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Planning Commission, India
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
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- Ministry of Transport, Egypt
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- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
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- SMC Global Power, Philippines
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- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
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- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
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