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 February 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Bulk Carrier Trends

First Supramax Vessel for Japan-Italy Venture

'DACC Tirreno' was delivered at the Oshima shipyard in Japan yesterday, the first of four Supramax bulk carriers for the dACC Maritime Limited fleet, the joint

Ukraine Arrests Turkish Ship for Visiting Crimean Port

Turkey owned merchant ship flying the flag of Tuvalu was arrested by Ukrainian authorities over a visit it made to a port in Crimea, reports Reuters. The ship's captain detained.

NORDEN CEO: Bulk Market Challenges to Continue

Klaus Nyborg, interim CEO at Denmark-based dry bulk and product tanker shipping company Dampskibsselskabet NORDEN A/S, expects difficult dry cargo market conditions

Government Update

Obangame Express 2015 Concludes in the Gulf of Guinea

Maritime forces from Gulf of Guinea nations, Europe, South America, and the United States and several regional and international organizations concluded the multinational maritime exercise,

Greece Will Sell Piraeus Port Stake in Weeks

The Greek government will sell its majority stake in the port of Piraeus within weeks, the country's deputy prime minister told China's official Xinhua news agency,

China Maritime Silk Road to Touch India for Namesake

Chinese officials on Saturday fleshed out some details for the country's ambitious 21st Century Maritime Silk Road (MSR) project in its “one belt, one road,” action plan.

Great Lakes

Soo Locks Open for Great Lakes Shipping Season

At 12:01 a.m. on Wednesday, the U.S. Army Corps of Engineers officially opened the Soo Locks for the start of the 2015 Great Lakes shipping season.   The locks at Sault Ste.

Soo Locks Open for Cargo Ships

Despite the chilly temperatures and heavy snowfall the U.S. Army Corps of Engineers opened the Soo Locks for the start of the Great Lakes shipping season.    The Edwin H.

Pacesetter Award Winners Announced for 2014 Navigation Season

The U.S. Saint Lawrence Seaway Development Corporation (SLSDC) has announced that eight U.S. ports in the Great Lakes St. Lawrence Seaway System are receiving the prestigious Robert J.

 
 
Maritime Contracts Navigation Offshore Oil Pipelines Port Authority Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1318 sec (8 req/sec)