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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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Friday, 14 August 15
CONDITIONS AND COMPLEXITIES IN A TRIPARTITE AGREEMENT: BE SPECIFIC! - INCE & CO
KNOWLEDGE TO ELEVATE
A tripartite agreement reached between the Owners, the Shippers and the Receivers provided that demurrage be paid to the ...
Thursday, 13 August 15
THE RATES FOR CAPES KEPT RALLYING LAST WEEK - INTERMODAL
COALspot.com: Strong Capesize performance kept supporting the Dry Bulk market last week, which noted another positive weekly closing, while rates f ...
Thursday, 13 August 15
FOB RICHARDS BAY COAL SWAPS CONTINUE FALLING
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$ ...
Wednesday, 12 August 15
DRY BULK MARKET: WITHOUT A DOUBT REACHED HEALTHIER LEVEL
A few weeks before the end of the summer season, the BDI is hovering around 1,200 points, providing some much needed optimism to all Dry Bulk marke ...
Wednesday, 12 August 15
REGULATION CURBS POWER OF LOCAL AUTHORITIES IN MINING SECTOR IN INDONESIA - FLORENCE G. SANTOSO
The Indonesian Government appears to be getting serious about stripping Regents of the authority to issue mining licenses. The Government took the ...
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- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
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