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Tuesday, 03 March 15
INDIAN THERMAL COAL IMPORTS: STEAMING FORWARD - CLARKSONS
 Coal-fired power stations comprise around 60% of India’s power output, and with domestic supply issues and favourable international coal prices, the country looks set to continue to rely on imports. In 2014, India’s thermal coal imports increased 15% to an estimated 162mt. Given that Chinese imports are likely to fall in the coming years, India could emerge as the largest seaborne importer of steam coal.
Tumbling Coal Prices
Indian thermal coal imports rose considerably in 2014, partly benefiting from the lowest coal prices in four years. Prices of Indonesian and South African coal, which accounted for 95% of Indian steam coal imports in 2014, fell 19% and 26% y-o-y respectively. Furthermore, the stabilisation of the Rupee in 2014 meant that Indian buyers were in a stronger position to exploit falling international coal prices. As such, in January-October 2014, imports from Indonesia rose 13% y-o-y, while shipments from South Africa rose 48% y-o-y.
A Strain On Supply
The increase in Indian steam coal imports was also supported by sluggish growth in domestic coal production in 2014. Output rose by around 5% y-o-y in 2014, far below growth targets and even further below the country’s overall electricity generation growth, which reached 9% in 2014. Legal and bureaucratic constraints and logistical bottlenecks limited domestic steam coal production growth, putting further downward pressure on the domestic coal supply. The Supreme Court’s cancellation of 200 mining licences in September 2014, amidst an ongoing license allocation corruption scandal, as well as the government’s inability to pass the Coal Mines Bill, also restricted coal production growth. As a result, import demand increased in order to help to meet energy needs. Coal India’s announcements that the country will completely cut thermal coal imports over the next 2-3 years contrast with the domestic supply situation and growing levels of consumption.
Low Stockpiles To Top It Off
Furthermore, dry weather conditions during the Indian monsoon season meant that the country’s hydro-electric power generation was hampered in 2014, leading to greater reliance on existing coal stocks. As such, stocks of thermal coal dropped to 7.8mt in October, the lowest level since November 2012, while the average number of power plants at ‘super critical’ stock levels (less than four days of use) rose 81% y-o-y, peaking at 38 stations. In order to replenish stocks during the monsoon season and meet domestic power demand, Indian coal-fired power stations ramped up imports during the months when they traditionally decline, between July and September.
So, critically low inventory levels, coupled with insufficient domestic production are likely to continue to push power station operators to turn to currently cheaply imported coal to fulfil their supply requirements. Indian thermal coal imports are thus projected to grow by a further 8% y-o-y to total 174mt in 2015, partly supported by an $8bn investment in existing port infrastructure. Given that Chinese imports are expected to decline in 2015, the global picture may be shifting towards India as the world leader in seaborne steam coal imports for the first time.
Source: Clarksons | Hellenic Shipping News
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Saturday, 14 February 15
SHALE GAS AND TIGHT OIL ARE COMMERCIALLY PRODUCED IN JUST FOUR COUNTRIES - EIA
KNOWLEDGE TO ELEVATE
The United States, Canada, China, and Argentina are currently the only four countries in the world that are producing com ...
Friday, 13 February 15
U.S. WEEKLY COAL PRODUCTION SHOWS 10% DECLINE
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.1 million short tons (mmst) of coal ...
Friday, 13 February 15
SMALL AND MEDIUM-SIZED SHIP OWNERS SQUEEZED OUT OF THE MARKET ON CRASHING DRY BULK MARKET AND EUROZONE CRISIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Financing issues have started to tighten the noose in the throats of small and medium-size ship owners, who were already facing problems over the p ...
Thursday, 12 February 15
CAPESIZE: THE BEST DESCRIPTION FOR THE MARKET IS, FLAT - FEARNRESEARCH
Handy
The handy and supra market is also being affected by the marginal volume of activity in the commodity sales. We see a small upturn in the T ...
Thursday, 12 February 15
DRY BULK OWNERS SCRAP MORE VESSELS, AS MARKET REACHES HISTORICAL LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has reached historical lows this week, with the Baltic Dry Index (BDI) now trading at levels below operating expense levels for ...
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- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- Australian Coal Association
- MS Steel International - UAE
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- The University of Queensland
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
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