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Wednesday, 04 May 16
COAL IMPORTS: A VOLATILE MATTER OR STILL POWERING DOWN? - CLARKSONS
 Chinese coal imports decreased significantly in 2014-15, and so far in 2016 the pace of decline appears to have slowed, with imports even recording positive y-o-y growth in March. The recent improvement has partly been supported by a reduction in domestic coal supply, and increased domestic coal prices, but can this slightly more positive momentum in
Chinese imports be sustained?
Domestic Coal Dominated
Chinese seaborne coal imports started to surge back in 2009, and China rapidly became the world’s largest coal importer, with imports topping 300mt in 2013. While this volume accounted for 24% of global seaborne coal trade, it only represented 7% of China’s total coal use, with the rest accounted for by domestic supply. Growth in imports was partly driven by higher domestic coal prices, which also led to firm expansion in Chinese coal production capacity during this period.
Slow Burner?
In the last ten years China has added an average of 320mtpa of new coal production capacity. While estimated 1.1bt of less efficient capacity was removed in 2006-15 (based on available reports), total coal production capacity still registered a net increase of around 3.0bt over the last ten years. Meanwhile, in 2012 the pace of growth in Chinese coal consumption started to slow, and coal use fell 4% in both 2014 and 2015, exerting pressure on domestic coal prices and reducing the price advantage of imported coal over domestic material. This, combined with environmental measures, limited demand for imported coal, and Chinese seaborne coal imports fell sharply by 11% in 2014, and 30% in 2015 to total 188mt last year.
Supply Slice
However, the recent focus on ‘supply-side’ reform in China’s industrial sector has led to a further drop in coal production this year, with output down 3% y-o-y in the first two months of 2016. This has contributed to an increase in domestic coal prices in recent months, and seaborne coal imports in March grew y-o-y for the first time in almost two years, rising 3%, with total imports in Q1 down 6%.
Capacity Challenges
Looking ahead, China aims to cut a further 0.5-1.0bt of coal production capacity between 2016 and 2020, and has halted new coal mine approvals for the next three years. While this may help reduce total production capacity, a significant volume of the 5.7bt of capacity is current idled or producing at a slower rate. A general improvement in domestic coal prices could lead to increased production from these mines, potentially offsetting the impact of further capacity closures.
So, oversupply in the coal sector is unlikely to be resolved rapidly. The domestic coal market has improved slightly in recent months, but given that imports account for a small share of China’s coal use, the balance between domestic output and consumption is likely to lead to short-term volatility in imports. Nevertheless, with coal consumption not expected to pick up significantly in coming years, partly reflecting a greater environmental focus, for now the most likely scenario is that pressure on imports will remain into the longer-term.
Source: Clarksons
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Tuesday, 26 April 16
INDONESIA BANNED COAL EXPORTS TO PHILIPPINES BY BARGES DUE TO SECURITY CONCERN
COALspot.com: The Ministry of Energy and Mineral Resources (ESDM) on behalf of the government of Indonesia has Freeze coal exports by barges to Phi ...
Tuesday, 26 April 16
NEWBUILDING DEMAND DOWN EVERYWHERE? - CLARKSONS
Newbuild activity provides one indication of an owner country’s likely future fleet growth, though secondhand sale and purchase and demolitio ...
Monday, 25 April 16
CHINESE STEEL PRICE SURGE NOT SUSTAINABLE - FITCH
The rapid increase in Chinese steel prices so far this year is not sustainable, as it is largely due to a seasonal pick-up in construction and elev ...
Monday, 25 April 16
WEEKLY CS (I) COAL INDICES END ALMOST FLAT
COALspot.com: Average 5000 GAR coal index of Indonesian origin up 0.05 percent week over week to averaging $38.67 per ton on this past Friday, acco ...
Monday, 25 April 16
BALTIC DRY INDEX ENDS WEEK ON A POSITIVE NOTE
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
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- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Parliament of New Zealand
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
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