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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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Sunday, 24 August 14
SEA FREIGHT MARKETS STARTING TO LOOK POSITIVE; CAPES DRIVE FREIGHTS HIGHER
COALspot.com: The freight market has strengthen further this week with BDI up 7.19 pct week on week. The BDI was closed at 1,088 points while the B ...
Friday, 22 August 14
INDIAN IRON ORE ROYALTY RISE NOT LIKELY TO HURT STEELMAKERS' MARGINS - FITCH
Fitch Ratings does not expect an increase in India's iron ore royalty rates to have a major impact on the profitability of steel producers in t ...
Friday, 22 August 14
ARBITRATION CLAUSE IN LOU HELD TO REPLACE CHARTERPARTY ARBITRATION CLAUSE
KNOWLEDGE TO ELEVATE
The Claimants had claims for cargo damage against the vessel Owners arising under four bills of lading. The vessel was th ...
Friday, 22 August 14
ICAP ENERGY LAUNCHES GLOBAL COKING COAL DERIVATIVES TRADING
First contract completed and cleared on CME
COALspot.com: ICAP Energy, the energy business of ICAP plc, announces today that it has successful ...
Friday, 22 August 14
U.S WEEKLY COAL PRODUCTION UP 2.4% WEEK OVER WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 19.60 million short tons (mmst) of coal in ...
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- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
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