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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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Friday, 30 January 15
CAN BULKER CONVERSIONS SPOIL THE TANKER MARKET'S PARTY? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Oversupply of tonnage has always been in the back of the head of ship owners when it comes to taking advantage of favorable market conditions. As s ...
Thursday, 29 January 15
CHINA ENERGY DEMAND MUST BE REVIEWED DUE TO FUNDAMENTAL ECONOMIC CHANGES - WOOD MACKENZIE
New patterns emerging as energy demand growth decoupled significantly from GDP growth for the first time in 2014
Wood Mackenzie says 2014 was ...
Thursday, 29 January 15
CAPE MARKET IS STILL STRUGGLING WITH LOW DEMAND AND LOW COMMODITY PRICES
Handy
Supramax rates are heading south with slipping rates all across the block. USG activity is slow with mid-week levels in the mid 8.000s, Fea ...
Wednesday, 28 January 15
MARKET INSIGHT - STELIOS KOLLINTZAS
With most traders having returned to action from year end festivities, we have already seen signs of activity in the specialized product markets. L ...
Wednesday, 28 January 15
CAPES CONTINUED THEIR UPWARD MOVEMENT LAST WEEK - INTERMODAL
COALspot.com: The Dry Bulk market displayed a mirror performance of that of the week prior, with the Capesize market correcting further upwards and ...
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- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Planning Commission, India
- White Energy Company Limited
- Goldman Sachs - Singapore
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Latin American Coal - Colombia
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Australian Coal Association
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
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