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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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Saturday, 30 August 14
INDIAN GOVERNMENT SHOULD TAKE NOTICE: THERMAL COAL IMPORT PRICES EXTREMELY LOW - COMMODORE RESEARCH
COALspot.com: Both Indonesian and Australian thermal coal prices are at the lowest levels seen this decade, with Indonesia's monthly benchmark ...
Saturday, 30 August 14
RECOVERY IN SIGHT FOR THE DRY BULK SHIPPING MARKET - DREWRY SHIPPING CONSULTANTS
Despite weak freight rates so far this year, Dry Bulk shipping earnings are forecast to recover as demand for both major and minor bulk commodities ...
Friday, 29 August 14
U.S. WEEKLY COAL PRODUCTION DROPS 1.3 PERCENT, EIA SAYS
COALspot.com – United States the world's second largest coal producer, produced approximately 19.40 million short tons (mmst) of coal in ...
Friday, 29 August 14
ADARO'S PROFITS SINK FURTHER AMID FALL IN COAL PRICES - JP
Adaro Energy, one of the country’s largest coal miners, has reported a 31 percent drop in net profit in the first half of this year as global ...
Thursday, 28 August 14
PANAMAX: OWNERS CAN GET AROUND USD 16000 FOR A FRONTHAUL; PERIOD MARKET - VERY QUIET - FEARNLEYS
Handy
The activity and sentiment is improving in the Atlantic with the general TA rate is up about US$ 800 w-o-w. We see more South American carg ...
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- Star Paper Mills Limited - India
- Planning Commission, India
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- The University of Queensland
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Australian Coal Association
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
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