According to the vessel line-up data compiled by CoalMint Research, Pakistan’s coal imports have recorded its highest monthly total in Jul’18 since Aug’16, the period from which CoalMint has started compiling import data from Pakistan’s coal shipments.
Coal imports which stood 1,946,638 MT in Jul’18, surpassed the previous highest of 1,621,404 MT attained in the month of March this year.
Pakistan has been recording remarkable growth in coal imports to sustain the growing energy needs, also the number of infrastructure projects going around in the country initiate robust coal demand among the cement industries.
Coal imports continue to rise for the third straight month in Jul’18, increasing 29% M-o-M from 1,511,164 MT in Jun’18. On the yearly basis, imports were 147% higher from 789,470 MT in Jul’17.
In order to reduce the direct cost of manufacturing businesses utilising coal, the Pakistan Government has lowered the tax rates that were levied on imported coal, which might have also provoked higher coal purchasing from the consumers.
Under the Budget presented for the FY 2018-19, the government had reduced the Custom Duty (CD) on imported coal from 5% to 3%, besides rationalising tax collected from commercial coal traders.
During the first 7 months of CY18 (Jan’18-Jul’18), Pakistan’s coal imports have reached 9,141,743 MT, up 48% from the 6,173,669 MT coal imported over the same period in CY17. It is likely that the country would soon beat its previous year’s import total of 10,738,658 MT achieved in CY17.
Major Coal Exporters:
South Africa accounted for over half of the Pakistan’s coal supplies in Jul’18. South African coal exports increased 50% M-o-M to 1,027,848 MT, to mark fresh highest monthly total in Jul’18.
Indonesia and Mozambique also recorded new highs in monthly coal exports to Pakistan by supplying respective coal quantity of 523,320 MT and 157,640 MT, in Jul’18.
Major Coal Receivers in Jul’18:
Port Qasim electric power remained the largest coal importer in Jul’18. The power producer had imported 416,450 MT coal, which accounted for over 21% of the total imports.
Huaneng Shandong Ruyi, operator of Sahiwal power plant, had taken 14% of the monthly total despite recording a fall of 14% in imports.
Lucky Coal Company shipped in 211,880 MT, taking the third highest coal shares in Jul’18. While D G Khan Cement company had received imported coal after a gap of 3 months to secure the fourth largest coal quantity in Jul’18.
Leave a Reply