• 3 minutes This Battery Uses Up CO2 to Create Energy
  • 5 minutes Shale Oil Fiasco
  • 9 minutes Don't sneeze. Coronavirus is a threat to oil markets and global economies
  • 12 minutes Historian Slams Greta. I Don't See Her in Beijing or Delhi.
  • 1 min Which type of Hegemony will China follow
  • 17 hours Boris Johnson taken decision about 5G Huawei ban by delay (fait accompli method)
  • 5 hours China gets caught?
  • 7 hours Demand for Diesel vs. Oil
  • 20 hours Yesterday POLEXIT started (Poles do not want to leave EU, but Poland made the decisive step towards becoming dictatorship, in breach of accession treaty)
  • 3 hours Us Shale: Moving the US shale revolution forward
  • 2 days Here is Why People Lose Money Trading Natural Gas
  • 21 hours Environmentalists demand oil and gas companies *IN THE USA AND CANADA* reduce emissions to address climate change
  • 1 day Tesla Will ‘Disappear’ Or ‘Lose 80%’ Of Its Value
  • 2 days Let’s take a Historical walk around the Rig
  • 2 days US Shale: Technology
  • 2 days Governments that wasted massive windfalls
Dave Forest

Dave Forest

Dave is Managing Geologist of the Pierce Points Daily E-Letter.

More Info

Premium Content

Another Strong Datapoint For Coal

I wrote last week about India's incredible thermal coal imports.

The roll keeps coming in this space.

Indian ship broker Interocean reported late last week that imports came in strong in November. The nation brought in 11 million tonnes of thermal coal during the month.

This is another month with much stronger imports than India had during the last fiscal year. Suggesting that coal demand is continuing to surge in the country.

The November numbers now put total thermal coal imports for the current fiscal 2014 year (April to November) at around 93 million tonnes. Already higher than the total for the entire 2013 fiscal year. Which ran around 89 million tonnes.

And we've still got four months left in the current year. Confirming that India's full-year imports are likely to end up in the range of 130 to 140 million tonnes.

Pointing to an approximate 50% increase in total imports, year-on-year.

As I've said before, the pace of import growth here is unbelievable. It's also something very few observers in the coal market are paying attention to.

The key now will be to see if supply from Indonesia can keep pace. That nation is the only supplier to India that's been able to pull off substantial growth in its output.

One interesting point on that front. Australia's Newcastle coal port registered a very rare event in November: an export shipment of coal to Indonesia.

Given vast Indonesian supply, it's unusual to see the country turning to imports. The shipment was small, at only 33,000 tonnes. But could be a very early indicator that Indonesia's supply is starting to falter a little--forcing local buyers to look outside the country for supply.

We'll see if future data bear this out. It certainly looks like the pressure is firmly on the supply side in the Pacific coal market, to keep up with India's ravenous demand.

Here's to the story in the numbers,

By. Dave Forest




Download The Free Oilprice App Today

Back to homepage




Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play