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Monday, 29 December 14
CHINESE COAL IMPORTS: REGULATORY RISKS? - CLARKSONS
 In recent years, Chinese seaborne coal imports have surged, registering average growth of 67% p.a. between 2009 and 2013 to total 265mt. However, this trend has not continued in the year to date, with seaborne coal imports into China down 7% year-on-year in the first ten months of 2014. Meanwhile, this year, China has introduced several regulations which may limit coal imports even further.
Falling Imports
In January-October 2014, Chinese seaborne steam coal imports (including lignite) fell 2% y-o-y to 161.4mt, partly as favourable weather conditions contributed to a surge in domestic hydro-power output, which reduced reliance on coal-fired power. Meanwhile, the availability of landborne coking coal from Mongolia has risen this year, following supply disruptions in 2013, which has led to a fall in seaborne imports. Furthermore, slower growth in Chinese steel production has contributed to a 23% y-o-y fall in coking coal imports in the year to date. Indonesia and Australia supply most of China’s coal imports, accounting for 45% and 37% of imports during this period. In the year to date, the fall in imports from Indonesia has accounted for 79% of the decline in Chinese coal imports, while imports from Australia have risen steadily.
Regulatory Review
Additionally, the recent introduction of new regulations may be starting to have an impact on imports. In September, China’s NDRC requested that major power producers contribute to a 40mt cut in steam coal imports in the remainder of 2014, which has partly reduced coal import demand. In mid-October, China introduced a 3% tax on coking coal imports and a 5-6% tax on steam coal imports, following on from the 3% lignite import tax put in place in September 2013. Although the taxes are aimed at supporting China’s domestic coal industry, the ASEAN free trade agreement (FTA), as well as the recently negotiated China-Australia FTA, may limit the impact on imports going forward, given that Indonesia and Australia together account for almost 80% of Chinese coal imports.
Future Prospects
There are also further restrictions which may affect imports from 2015. The NDRC will place limits on the quality of coal allowed to be produced, imported and sold, with stricter restrictions on coal transported more than 600km from port of entry to place of consumption. More stringent limits will be placed on the sale and use of coal in major coal consuming regions.
Given these limits, it seems likely that imports from Australia may be most affected. While some miners have indicated that they will be able to “wash” coal in order to meet restrictions, it is clear that China is taking steps to improve air quality and support domestic coal producers.
As a result, Chinese coal imports are expected to fall in 2015, although the extent of the decline is not yet clear. Since China has driven most of the recent growth in coal trade, total expansion may be slower in the short-term, compared to the double digit growth recorded in recent years. As such, the balance of the global picture appears to be shifting to India, where there remains significant potential for strong import growth.
Source: Clarksons / Hellenic Shipping News
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Friday, 26 December 14
SHIPS FACE LOWER SULPHUR FUEL REQUIREMENTS IN EMISSION CONTROL AREAS FROM 1 JANUARY 2015 - IMO
Ships trading in designated emission control areas will have to use on board fuel oil with a sulphur content of no more than 0.10% from 1 January 2 ...
Wednesday, 24 December 14
CAPE DEMAND WAS STILL EXTREMELY SOFT THIS PAST WEEK ACROSS BOTH BASINS - INTERMODAL
COALspot.com: The performance of the Dry Bulk market, which found itself in desperate search of support for yet another week, has left very little ...
Wednesday, 24 December 14
MARKET INSIGHT - JOHN N. COTZIAS, INTERMODAL SNP BROKER
The year is coming to an end, and we should be able to assess if this was a good year, a bad year, or even a lousy one? The answer clearly de ...
Tuesday, 23 December 14
Q1'15 FOB INDONESIA COAL SWAP GAINED 48 CENTS IN ONE WEEK
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month and gained week over week and day on day.
The Q1 swap has lo ...
Tuesday, 23 December 14
Q4'15 FOB RICHARDS BAY COAL SWAPS FALL $ 3.85 IN A MONTH
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 lost month on month.
The Q1 swap has lost US$ 2.13 (-3.17%) month on month ...
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- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- The University of Queensland
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- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
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- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
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- Directorate Of Revenue Intelligence - India
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- Chamber of Mines of South Africa
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- Siam City Cement PLC, Thailand
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- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
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- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
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- Global Green Power PLC Corporation, Philippines
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- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
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- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
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- Wilmar Investment Holdings
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- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
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- Planning Commission, India
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Eastern Energy - Thailand
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