China: Coal Imports to Stay Steady in '14

Posted by Greg Trauthwein
Wednesday, April 09, 2014
China's imports of coal in 2014 are expected to remain at the same level as last year, with demand growth slowing and the domestic market already well-supplied, a senior energy official said on Thursday.
 
China imported 267 million tonnes of coal for the whole of 2013, up 14 percent on the year, with many buyers seeking out cheaper overseas supplies.
 
Ren Lixin, director of the coal department at the National Energy Administration (NEA), told an industry conference that oversupply also remains a problem for a sector struggling with slowing demand and a campaign by the government to switch to less polluting energies.
 
Oversupply was reflected in China's coal inventories, which have remained at around 300 million tonnes since last year, up from the traditional rate of 200 million tonnes, Ren said.
 
Tumbling prices, caused by weaker demand due to slowing growth in China and a flood of cheaper imports, have forced many smaller coal miners out of business, while a slew of majors, including Shenhua Energy , China Coal Energy and Yanzhou Coal, reported losses for their 2013 results.
 
The sector has also faced heavy pressure from a nationwide campaign to cut smog and promote cleaner energy sources like gas and renewables, but Ren suggested China's war on pollution could provide the impetus for the struggling sector to reform itself.
 
"It is important for the coal industry to transform itself by becoming clean and green in order to survive this new era," he said.
 
Ren said that China would step up efforts to consolidate the sprawling, fragmented sector this year and phase out inefficient and small-scale production. China closed 1,200 small-scale mines in 2013, but there were still around 6,300 that needed to be shut, he said.
 
The NEA announced last week that it would close 1,725 small coal mines this year, amounting to a total capacity of 117.48 million tonnes, with local governments under orders to shut all mines with annual production capacity of less than 90,000 tonnes.
 
However, China's last five-year plan for the energy sector still allows for the construction of an additional 860 million tonnes of new coal production capacity over the 2011-2015 period.
 
(Reporting by Fayen Wong; Editing by Richard Pullin)
Maritime Reporter July 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Bulk Carrier Trends

Mozambique Port Accident Deals Blow to Vale Coal Project

A coal stacker has collapsed at the Mozambique port of Nacala, dealing a blow to Brazilian miner Vale's effort to start coal shipments from the African nation in the third quarter,

Georgia Ports Score Record Cargo Numbers

The Georgia Ports Authority moved a record 3.66 million twenty-foot equivalent container units in Fiscal Year 2015, an increase of more than half a million TEUs.

Vale Coal Stacker Collapses at Mozambique Port

A coal stacker has collapsed at the Mozambique port of Nacala, dealing a blow to Brazilian miner Vale, which is aiming to start coal shipments in the third quarter of this year,

Government Update

BSEE Updates Hurricane Reporting Requirements

BSEE is providing updated guidance for the current and future hurricane seasons through a Notice to Lessees (NTL) released July 27, 2015. NTL 2015-G02 clarifies

Singapore MPA Wants LNG Bunkering Options

Singapore's Maritime Port Authority is seeking proposals on liquefied natural gas bunker supplies as it shifts away from fossil fuels towards gas while trying to

China's Navy Drills in South China Sea

China said it conducted air and sea drills in the South China Sea on Tuesday as it stakes an increasingly assertive claim to virtually the whole sea despite rival claims by neighbours.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Navigation Offshore Oil Pipelines Port Authority Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1222 sec (8 req/sec)