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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, 16 July 14
WEEKLY SHIPPING MARKET INSIGHT - INTERMODAL
Wake me up when September ends - Theodore Ntalakos
Since last September most thought that the worst was behind us. It looks like the market de ...
Tuesday, 15 July 14
INDONESIA'S TOTAL COAL PRODUCTION REACHED ANOTHER HIGH DURING THE FIRST SIX MONTHS; GOVERNMENT EXPECTED TO RAISE ROYALTIES
COALspot.com: Indonesia's total coal production reached 213 million tons during January through June, up by 7.6 percent y-o-y. Coal output in I ...
Monday, 14 July 14
THE END OF THE ERA OF HEAVY FUEL OIL IN MARITIME SHIPPING - ICCT
KNOWLEDGE TO ELEVATE
Since the 1960s, heavy fuel oil (HFO) has been the king of marine fuels. Viscous, dirty, yet inexpensive and widely avail ...
Monday, 14 July 14
SGX SUB-BIT FOB INDONESIA COAL SWAP FOR Q4' 14 DELIVERY CLOSED AT $ 54.80
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on day, week and on month according to AsiaClear OTC coal swap's reports re ...
Monday, 14 July 14
SGX CFR SOUTH CHINA COAL SWAP FOR Q3' 14 LOST 17.29% SINCE EARLY JANUARY 2014
COALspot.com: Coal price falling is continues as the impact oversupply and lower demand. API 8 CFR South China Coal swap for delivery in Q3 drops U ...
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- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Australian Coal Association
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
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