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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, 25 January 15
PANAMAX FREIGHT RATES STILL FALLING
COALspot.com: The BDI was slightly down this week to 720 points. The BDI lost 2.83 pct week on week.
The cape index continued its upward trend ...
Friday, 23 January 15
U.S. WEEKLY COAL PRODUCTION FOR WEEK ENDING JAN. 17 UP 2.5%
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.4 million short tons (mmst) of coal ...
Thursday, 22 January 15
PANAMAX: A SOFTER TONE AND OVERALL A SLUGGISH MARKET - FEARNLEYS
Handy
The handy and supra market has experienced yet another week with slow activity and softening rates in both hemispheres, broker Fearnleys AS ...
Thursday, 22 January 15
BUMI RESOURCES POSTS NET INCOME OF $13.3 MILLION 9M-2014
COALspot.com: Bumi Resources, Indonesia’s largest coal miner, reported today that, the company has recorded a net income of $13.3 million for ...
Wednesday, 21 January 15
PANAMAX MARKET MOVED SIDEWAYS OVERALL LAST WEEK - INTERMODAL
COALspot.com: The positive sentiment in which the week prior ended carried on through-out last week as well, the end of which marked the first posi ...
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- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Australian Coal Association
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
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