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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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Thursday, 15 October 15
INDONESIA COAL PRICE REFERENCE FALLS FOR SEVEN STRAIGHT MONTH IN OCTOBER
COALspot.com - The Director General of Mineral and Coal of Indonesia once a again revised down Indonesian coal benchmark price this month.
The ...
Thursday, 15 October 15
Q1' 16 FOB RICHARDS BAY COAL SWAP ADVANCED 2 PER CENT WEEK OVER WEEK
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q4' 2015 gain week over week and declined month over month.
The Q4 swap was dow ...
Tuesday, 13 October 15
DRY BULK SHIPPING FLEET NET EXPANSION WAS 1.3% DURING THIRD QUARTER, BUT ORDERBOOK REDUCED TO 17% OF THE TRADING FLEET
If the dry bulk market is to rebound on a sustainable level, it needs to limit the tonnage expansion, at least until demand picks up again, as Chin ...
Tuesday, 13 October 15
FOB NEWCASTLE COAL SWAP DECLINED 2 PER CENT MONTH OVER MONTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2015 delivery decreased $0.46 per ton (1.08%) month over month to US$ 42.17 per ton. The ...
Monday, 12 October 15
CFR SOUTH CHINA COAL SWAPS GAIN W-W; SLIGHTLY DOWN M-M
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery down just US cents 3 (0.06 %) per ton month over month.
A commodity ...
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- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Parliament of New Zealand
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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