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Friday, 24 July 15
THE IMPACT OF COLLAPSING CHINESE COAL IMPORTS - CLARKSONS
 Global seaborne coal trade is currently projected to drop 1% y-o-y in 2015, which would be the first annual decline in almost three decades. The driving force behind the slump has been a collapse in Chinese seaborne coal imports, which fell 40% y-o-y in the first five months of the year. This month’s Commodity Countdown explores the cause and implications of the drop in Chinese coal import demand.
Global seaborne coal trade is currently projected to drop 1% y-o-y in 2015, which would be the first annual decline in almost three decades. The driving force behind the slump has been a collapse in Chinese seaborne coal imports, which fell 40% y-o-y in the first five months of the year. This month’s Commodity Countdown explores the cause and implications of the drop in Chinese coal import demand.
The Hoover Losing Suction
China’s role in recent global coal trade has been to hoover up coal output and provide a seemingly bottomless source of demand to exporters around the world. Chinese imports accounted for a quarter of growth in seaborne coal trade in 2012 and 65% in 2013. However, as the graph shows, the country’s coal import demand has been in steady decline since the beginning of 2014 and with the acceleration of the downturn in the first half of 2015, China is likely to lose its leading position, while global seaborne coal trade is expected to record its first decline in decades.
The Prognosis
The majority of coal consumed in China is sourced domestically, meaning that even a small change in the country’s coal use can impact heavily on seaborne imports. With that in mind, Chinese coal fired power generation dropped 3% y-o-y in the first five months of 2015 on the back of the government’s measures to tackle air pollution. There have been a number of power plant closures in recent months, while Chinese importers became increasingly particular about their coal purchases, due to the introduction of a series of coal quality regulations. Correspondingly, Chinese thermal coal imports dropped 39% y-o-y in January to May to the lowest level for the period since 2011. Similarly, coking coal imports dropped 41% y-o-y in January to May, coinciding with the 1.3% y-o-y drop in steel production in 1H 2015. The drop has been largely attributed to easing infrastructure development and sluggish construction activity.
The Impact On Exporters
As China’s coal imports from seaborne suppliers have dropped across the board in the year to date, coal miners have been put under severe financial pressure. Indonesian miners have taken a particularly severe blow, with a large number forced to cut output. Total Indonesian coal production dropped 19% y-o-y in January to May, while shipments to China halved y-o-y. Elsewhere, while Australian miners are likely to benefit modestly from a free trade agreement signed in June, forecasts still indicate a difficult remainder of the year, following the 15% y-o-y drop in exports to China in January to May. Finally, while India is on course to become the leading seaborne coal importer in 2015, it is likely to fall considerably short of filling the demand gap left by China. As such, the impact of collapsing Chinese coal import demand on global coal trade is likely to be significant.
Source: Clarksons | Hellenic Shipping News
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Tuesday, 03 November 15
API 5 FOB NEWCASTLE COAL SWAPS DECLINE CONTINUES
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2015 delivery slid $1.84 per ton (4.34%) month over month to US$ 40.54 per ton. The swap ...
Tuesday, 03 November 15
EU OIL MAJORS FACE FURTHER EARNINGS DECLINE IN Q415 - FITCH RATINGS
The sharp drop in major European oil companies' third-quarter profits is likely to be extended in the fourth quarter as refining margins, which ...
Monday, 02 November 15
DESPITE CHALLENGING MARKET CONDITIONS, ADARO LOWERS COSTS, DEBT AND DELIVERS STRONG FREE CASH FLOW
COALspot.com: Despite challenging market conditions, Adaro lowers costs, lowers debt and delivers strong free cash flow.
The Indonesia’s ...
Monday, 02 November 15
CFR SOUTH CHINA COAL SWAPS CLOSED ON A WEAK NOTE
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined US$ 1.81(3.71 %) per ton month over month.
A commodity swap ...
Sunday, 01 November 15
THE FREIGHT MARKET SENTIMENT REMAINS WEAK
This week’s freight market sentiment remains weak compared to last week.
The Baltic Dry Index (BDI), an economic indicator issued daily ...
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- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- The University of Queensland
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Deloitte Consulting - India
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
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