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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 $8bn investment in existing port infrastructure. Given that Chinese imports are expected to decline in 2015, the global picture may be shifting towards India as the world leader in seaborne steam coal imports for the first time.
Source: Clarksons | Hellenic Shipping News
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Sunday, 08 February 15
BDI FELL CONTINUOUSLY HIT A THREE DECADES LOW
COALspot.com: This week Baltic Exchange Dry Freight Index (BDI) fell continuously hit a three decades low.
The BDI continuously fell and was d ...
Friday, 06 February 15
WEEKLY U.S. COAL PRODUCTION UP AN ESTIMATED 1.1% FROM LAST WEEK - EIA
COALspot.com – United States the world's one of the largest coal producers, produced approximately 20.1 million short tons (mmst) of coal ...
Friday, 06 February 15
SHIP DAMAGED BY FIRE CAUSED BY PIRATES FOUND TO BE CONSTRUCTIVE TOTAL LOSS - TAYLOR WESSING
KNOWLEDGE TO ELEVATE
The High Court was asked to determine a number of preliminary issues, including whether a vessel was a constructive total ...
Thursday, 05 February 15
BDI HAS NOW FALLEN A LEVEL CLOSE TO THE INDEX'S HISTORIC LOW - INTERMODAL
They say a picture is worth a thousand words and in this instance just one look at the tables above is enough to understand the great pressure the ...
Thursday, 05 February 15
ULTRAMAX LEVELS FROM INDIA TO CHINA IN THE MID US$ 5000'S - FEARNLEYS AS
Handy
Despite the overall weak sentiment, there is a scent of optimism in the Atlantic market for ppt dates. Continent is still struggling with o ...
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- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
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