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Tuesday, 26 February 19
CHINA RESTRICTS SEABORNE COAL IMPORTS - WOOD MACKENZIE
 In response to news on China's Dalian port restricting seaborne coal imports, Wood Mackenzie's experts provide the following commentary.
Wood Mackenzie senior consultant Yu Zhai said:
"We estimate China's seaborne metallurgical coal imports to reduce by 3 million tonnes (Mt) in 2019 as a result of China's coal import restriction. The high quality of seaborne coal, and difficulties securing alternative coal domestically, should insulate coal exporters from much deeper cuts, despite strong signals from China. Australia would account for most of the volume reduction as it represented over 75% of China's seaborne metallurgical imports in 2018. Australia exported around 36 Mt metallurgical to China last year, makign up 20% of Australia's total exports.
"China's seaborne thermal coal imports is estimated to reduce by 15 Mt in 2019, taking into account the risk of wider coal import restriction. Australia could also be most affected by a similar restriction."
On implications on metallurgical coal, Wood Mackenzie's research director Robin Griffin said:
"A prolonged China-wide ban could have enormous implications for markets in both countries. The possibility of adverse impacts on China suggest a long term ban is unlikely."
Some of the most prominent impacts could include:
- Chinese domestic prices would spike. Prices for low sulphur premium coals in particular would rise as importers scramble to replace Australian coals. We expect that short term replacements will be hard to find domestically. There is a heavy reliance among coastal mills on low sulphur hard coking coals from Luilin County in Shanxi. There are other similar coals in Anze County but these are typically used inside Shanxi by merchant coke makers due to high transport costs to the coast. As an indication of what might happen during an import ban, domestic coking coal futures jumped at the end of January on the news of import controls. Chinese steel makers would ultimately see much costlier coke blends.
- Seaborne prices would decouple from Chinese domestic prices. We expect FOB Australian prices, particularly for premium and 2nd tier HCCs, would come under severe pressure as Australian exporters look to sell excess coal into other markets. The decoupling would be of most benefit to steel makers elsewhere in Asia, and Europe, who would see a fall in coal costs. Australia's competitors in the metallurgical coal trade might see greater opportunities into China, but Canada and the US are already subject to some quality and tariff-related restrictions into China, limiting their potential upside. And of course, lower seaborne prices would offset the benefit of any extra demand from China.
- Mongolian coal imports could rise substantially in order to replace Australian coals. Weaker coals make up the majority of Mongolian exports so in the short term direct replacements for Australian coals would be limited. However, new border crossing technology is being implemented to speed up trucking clearances, which would facilitate higher exports.
- A longer-term ban would force Chinese coastal mills to amend coke blends. There are options for mills to make blend changes, but not without implications. There are two common blends that could be utilised which would result in higher sulphur, higher ash, and lower CSR coke products:
- Use of more high sulphur (1.8% total sulphur) premium HCCs such as Luilin #9, blended with Mongolian 2ndtier HCCs such as the #3 product to produce a tier 1 coke.
- Use of mid-sulphur Shanxi premium HCCs (1-1.3% total sulphur) with low sulphur (0.5% total sulphur) 1/3 coking coals to produce a lower quality, but still a tier 1 coke.
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Sunday, 28 April 19
SUPRAMAX: A 54,000DWT VESSEL OPEN GRESIK FIXED VIA AUSTRALIA, REDELIVERY CHINA, IN THE MID $12,000S - BALTIC BRIEFING
Capesize
Following the holidays, activity increased in both the Pacific and Atlantic Basins. The 5TC average rallied, closing at $8,596, up $1, ...
Wednesday, 24 April 19
PANAMAX: IN THE EAST, THE MARKET MOVED SIDE-WAYS, WITH FEWER COAL CARGOES FROM INDONESIA PUTTING PRESSURE ON RATES - INTERMODAL
Sentiment in the Dry Bulk market slowly but steadily kept improving last week as Capesize rates remained in recovery mode and Panamax earnings also ...
Wednesday, 24 April 19
SHIPPING MARKET INSIGHT - IS THIS A BANKERS' MARKET? - INTERMODAL
Over the last 10 years, many of the traditional and top lending banks have made the decision to either downsize their portfolios or even exit shipp ...
Monday, 22 April 19
COAL INDIA TO ASK POWER PLANTS TO CUT COAL IMPORTS - DNA
Co to encourage import substitution with domestic supplies at power plants
Surge in coal imports has now forced Coal India Ltd (CIL) ...
Thursday, 18 April 19
BIMCO SEES HARD TIMES AHEAD FOR CAPESIZES
China’s increased use of scrap metal for its production of crude steel is fundamentally critical to the dry bulk shipping industry. Mostly Ca ...
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Showing 1411 to 1415 news of total 6871 |
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- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Planning Commission, India
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Australian Coal Association
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
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