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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, 25 August 14
4TH ANNUAL FLOATING TERMINALS
4th Annual Floating Terminals
18-20 Nov 2014
Intercontinental Jakarta Midplaza,
Indonesia
Web Site
The Floating Terminal c ...
Monday, 25 August 14
THE BALTIC DRY IS JUMPING, BUT DON'T DRAW ANY BROAD CONCLUSIONS - NASDAQ
Those who consistently preach doom and gloom and see an economic apocalypse around every corner would make me laugh if it weren’t for the fac ...
Monday, 25 August 14
COAL CEOS: DEMISE OF COAL 'EXAGGERATED' - MARK WILCOX
By Mark Wilcox
Heads of some of the largest coal companies in Wyoming are saying the demise of coal has been exaggerated, though the industry def ...
Monday, 25 August 14
INDO COAL SWAPS W-O-W: NEGATIVE; M-O-M: POSITIVE
COALspot.com: Indonesian coal swaps for average September 2014 decreased US$ 0.15 (-0.28%) day on day and US$ 0.65 (-1.19%) per mt week on week. Th ...
Monday, 25 August 14
API 8 CFR SOUTH CHINA COAL SWAP GAINED DAY OVER DAY AND MONTH OVER MONTH
COALspot.com: API 8 CFR South China Coal swap for delivery in September 2014 increased US$ 0.30 (+0.44%) day on day and decreased US$ 0.20 (- ...
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- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
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- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
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- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
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- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
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- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
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- Bukit Asam (Persero) Tbk - Indonesia
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- Bulk Trading Sa - Switzerland
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- The University of Queensland
- Intertek Mineral Services - Indonesia
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- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
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- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
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- Global Business Power Corporation, Philippines
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- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
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- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
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- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
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- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
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