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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, 09 July 15
LACK OF FRESH BUSINESS IN THE PACIFIC LEFT CAPESIZE RATES MOVING SIDEWAYS - INTERMODAL
COALspot.com: Intermodal ship broker says in its weekly report that, a different picture from what we saw the previous week was painted during the ...
Wednesday, 08 July 15
RIO TINTO'S MODERNISED KITIMAT SMELTER BEGINS PRODUCTION; KITIMAT BECOMING ONE OF THE LOWEST COST SMELTERS IN THE WORLD
COALspot.com: Rio Tinto is preparing its first shipments of metal from its world-class Kitimat aluminium smelter in Canada following an extensive m ...
Wednesday, 08 July 15
Q3'15 INDONESIA COAL SWAP DECLINED 3.14% MONTH OVER MONTH
COALspot.com: Indonesian coal swap for delivery Q3 2015 declined month on month and week over week, this past week.
The Q3 swap was declined $ ...
Tuesday, 07 July 15
FOB RICHARDS BAY COAL SWAPS DECLINED WEEK OVER WEEK
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 declined month over month and week over week.
The Q3 swap was down US$ ...
Tuesday, 07 July 15
FOB NEWCASTLE COAL SWAP ADVANCED MONTH OVER MONTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery up $ 0.28 per MT (-0.61%) month over month to US$ 45.85 per mt. The swap wa ...
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- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Central Electricity Authority - India
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Indian Energy Exchange, India
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