January 29, 2016 Read More →

China Coal Giant Becomes a Net Exporter

Jonathan Rowland for WorldCoal.com:

China’s largest coal miner, Shenhua, saw coal production fall 8.4% in 2015, according to its latest operational data released to the Hong Kong Stock Exchange. Coal sales fell by 17.9%, while coal imports collapsed by 97.1% to just 200 000 t – and nothing in December 2015.

As a result, with 1.2 million t of coal exports (down 25% on 2014), the company became net exporter of coal for the first time – a fact the IEEFA picked up in its analysis of Shenhua’s results.

“With Shenhua owning its own dedicated in-house rail and coal port infrastructure (in fact, the largest coal port in the world) and with the company reporting a significant net cash profit margin on its in-house coal production, there is scope now for an acceleration of coal exports from China in the face of continued declines in domestic demand,” wrote the IEEFA’s Tim Buckley.

Shenhua’s Huanghua Port handled 111.6 million t in 2015 – down 15.2% on 2014, while its coal dock at Tianjin handled 40.3 million t of coal (up 10.1%).

Full article: China’s Shenhua becomes net exporter of coal

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