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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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Friday, 22 April 16
U.S WEEKLY DOMESTIC COAL OUTPUT UP 8.2 PER CENT - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.1 million short tons (mm ...
Thursday, 21 April 16
PANAMAX: A VERY HEALTHY NORTH ATLANTIC FOR BOTH ROUNDS AND FRONTHAUL
Capesize
Correcting after last week's quadrupling.
This year's highest daily average of USD 8000 came on the back of substantial pro ...
Wednesday, 20 April 16
2017 IS EXPECTED TO BE A MUCH BETTER YEAR FOR THE SHIPPING INDUSTRY - INTERMODAL
Some months ago we noted that all projections anticipated 2016 to be a better year from a macroeconomic point of view when compared to 2015. As we ...
Tuesday, 19 April 16
STARS STILL SHINING? KEY IMPORTERS THROUGH THE TELESCOPE - CLARKSONS
As the pace of growth in Chinese seaborne imports has slowed, and prospects for a return to stronger rates of expansion appear to have diminished, ...
Monday, 18 April 16
INDONESIAN 5000 GAR COAL INDEX DECLINE 1.43 PERCENT WEEK OVER WEEK - CS (I) COAL INDEX
COALspot.com: Average 5000 GAR coal index of Indonesian origin fell 1.43 percent week over week to averaging $38.65 per ton on this past Friday, ac ...
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- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Planning Commission, India
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
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