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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, 19 December 14
U.S WEEKLY COAL PRODUCTION REACHED APPROXIMATELY 19.8 MMST; UP 1.0% WOW
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.8 million short tons (mmst) of coal ...
Friday, 19 December 14
HANDY: SOFTER TONE; PANAMAX: QUIET WEEK; CAPESIZE; PAINFUL WEEK
Handy
A softer tone for rates and volumes for the Supras, perhaps less apparent in the Pacific the last week before the season holidays and good ...
Thursday, 18 December 14
INDONESIA TO REVISE UP COAL OUTPUT TARGET TO 460 MILLION TONS IN 2015
COALspot.com: Indonesian government has revised up its next year coal output forecast to 460 million tons from its previous forecast of 421 million ...
Wednesday, 17 December 14
CAPES RATES SLIPPED BELOW $5,600/DAY, FELL 84% YOY
COALspot.com: In the very rare occurrence when the BCI stands below the BDI, words to describe market sentiment are probably poor, said Intermodal ...
Wednesday, 17 December 14
MARKET INSIGHT - INTERMODAL SHANGHAI, SNP TEAM
As the end of the fourth quarter is approaching, we are all witness to the second hand market prices softening day by day. Any new deal surfacing t ...
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- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Planning Commission, India
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
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