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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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Wednesday, 19 August 15
FOB INDONESIA COAL SWAPS CONTINUE FLAT TREND LINE THIS WEEK
COALspot.com: Indonesian coal swap for delivery 4Q 2015 declined month on month and flat week over week, this past week.
The 4Q swap was decli ...
Tuesday, 18 August 15
DRY BULK: MARKETS HAVE CONTINUED TO BE SEVERELY CHALLENGED - CLARKSONS
The dry bulk markets have continued to be severely challenged with freight rates falling during the period to below operating expense. The Baltic D ...
Tuesday, 18 August 15
1Q'16 FOB RICHARDS BAY COAL SWAP FALLS BELOW $54 A TON
COALspot.com: API4 FOB Richards Bay Coal swap for delivery 4Q' 2015 declined month over month and week over week.
The 4Q swap was down US$ ...
Tuesday, 18 August 15
2Q' 16 FOB NEWCASTLE COAL SWAP CLOSED AT $43 PER MT W/E 14 AUGUST
COALspot.com: API 5 FOB Newcastle Coal swap for 4Q’ 2015 delivery down $ 1.08 per MT (-2.46%) month over month to US$ 42.82 per mt. The swap ...
Monday, 17 August 15
TROUBLED DRY BULK MARKET FACES TURMOIL AS CHINESE COAL IMPORTS REMAIN WEAK - BIMCO
The demand for coal in China continues to diminish. So much in fact that India is expected to succeed China as the world’s largest imp ...
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- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
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