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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, 13 August 14
WEEKLY MARKET INSIGHT - KONSTANTINOS KONTOMICHIS SNP BROKER
Being at the peak of the holiday season, August is, as usual, the quietest month in terms of snp transactions, yet it is also a time very critical ...
Wednesday, 13 August 14
WHAT DOES PROJECT CARGO REALLY MEAN TO INSURERS?
KNOWLEDGE TO ELEVATE
Richard Kamppari-Baker, claims manager of FP Marine Risks, explains the challenges of project cargo risk assessment from ...
Wednesday, 13 August 14
INDONESIAN COAL PRICE REFERENCE FALL AGAIN CLOSE TO 57 MONTHS LOWS
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price in August. HBA for the month of A ...
Monday, 11 August 14
LARGEST CHINESE TRADE SURPLUS EVER RECORDED IN JULY - BIMCO
China recorded a trade surplus of USD 47.3 billion in July 2014. The record high surplus came on the back of very strong export growth while import ...
Monday, 11 August 14
INDONESIAN THERMAL COAL SWAPS SEEING SOME POSITIVE TREND
COALspot.com: Indonesian coal swaps for average September 2014 increased US$ 0.20 (+0.36%) day on day and US$ 1.30 (+2.41%) per mt week on week. Th ...
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- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- PTC India Limited - India
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
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