We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Tuesday, 15 October 13
CHINA COAL IMPORTS TO KEEP GROWING IN THE YEARS TO COME, ALBEIT AT A SLOWER RATE - EVA TZIMA / NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest monthly report, shipbroker Intermodal highlighted the growing role of coal in the energy mix. According to Intermodal's research analyst, Eva Tzima, "since the beginning of 2013, there has been a lot of debate as for what the future might hold for the trade of coal. The majority of coal production is used to fuel coal-fired power plants in the form also known as thermal coal. Coal, which is today the source that feeds almost 40% of global electricity requirements, has been the fastest growing energy source since the beginning of the 21st century, ac-cording to the International Energy Agency. It’s been mainly on the back of developing economies, like those of China and India that the traded volume of the commodity has witnessed a rapid increase. With China being globally the biggest producer and consumer of thermal coal, the demand for the latter has been inextricably linked with that of economic growth in the world’s second largest econo-my. As the rate of Chinese economic growth has been slowing down, so has the rate of coal consumption, while at the same time, due to its non green nature, the popularity of coal as an energy source has been gathering less and less supporters worldwide", she noted.
Tzima added that "despite the fact that China has been sitting on trillions of tonnes of reserves and therefore local appetite for coal has been historically satisfied onshore, as of the end of 2008 the country’s coal imports have started to increase at a very fast pace. The big beneficiary of this trend was no other than the dry bulkers, as the majority of those imports is realized by seaborne trade. Last year alone the an-nual increase of imported amounts of coal into China touched al-most 60% compared to those of 2011. As we head into the final quarter of 2013 it seems that an even higher figure of imports will be printed, proving that the trend is still strong. A little less than one third of Chinese coal imports is currently being satisfied by Indonesian reserves, while other Pacific region countries like Australia and Vietnam also account for substantial portions".
According to Intermodal's analyst, "the question that naturally comes to mind is why turning to offshore supplies for coal when the commodity is plentiful right there in your court? The answer is simple; Price. The cost of producing and transporting coal domestically has been higher than importing it. But as the country’s imports have continued to rise and its economy has gone into a slower gear, Chinese stockpiles have also increased significantly, fact which in its turn has put significant pressure on local prices. Since January alone, coal prices in China have softened more than 15%. As local prices have been softening a lot of reports have surfaced warning about possible pressure on coal imports going forward. On top of that, the Chinese government, in its effort to pursue more environmental friendly policies, could also weigh down on the future quantity of coal cargoes imported. The energy targets initially set forth by the government, as part of its overall pollution control plan, included both a ceiling on the imported volume and use, as well as a floor on the quality of coal consumed in the coun-try, adding further to the negative sentiment around coal usage altogether", Tzima noted.
"So, will the trade of coal start burning low in the Pacific region? I would think that most probably not. On the one hand the infrastructure modernization needed, should the government keep pushing for lower emissions of CO2, will add on to the cost of Chinese pro-duction. This will be reflected on the price of locally produced coal, restricting the gap between domestic and international prices to narrow down to a point where imports would no longer make economic sense. On top of that, while local coal prices have been softening, the same has happened to coal prices globally and even at a higher degree, so the price incentive for Chinese demand to dis-tant itself from imports doesn’t appear to be there. At the same time what originally started as a very solid plan to cap imported quantities has slowly been revised to a less strict policy, which doesn’t seem as hurtful for imports as it was in its initial form. This revision shows that cheaper energy sources are likely to hold centre stage, as it seems quite possible that the Chinese government would chose to partly sacrifice its “Green” targets for its “Growth” targets. In fact while it has pledged to reduce the country’s coal usage to 65% of its total energy mix, a 2% reduction from what it is today, it hasn’t set a specific amount of coal consumption. This means that under the current plan, the Chinese will still allow for growth in coal consumption should the country’s energy needs continue to rise. But will they do? In my view the fact that the Chinese government has compromised with slower economic growth targets for a longer period of time, in order to ensure the sustainability of that growth, in itself is supportive of firm on-going energy consumption within the country. Following the path of slower but more sustainable growth, energy consumption should be maintained at its current growth levels rather than exhaust itself in the medium term follow-ing strong but short-lived periods of overconsumption.
So despite the fact that King Coal might be facing some opposition, it seems that the Chinese will continue to be supportive of both imports and consumption of the commodity. And unless dramatic action is taken by their government, imports should keep increasing in the next years. This will almost certainly be an increase at a slower rate, but an increase nevertheless, as cheaper options of the commodity will be still made available through seaborne trade in the Asia-Pacific region, allowing for coal to keep burning hotter for a longer period than what some might chose to think...", Tzima concluded
Research Analyst - Eva Tzima
Source: Nikos Roussanoglou, Hellenic Shipping News
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Thursday, 07 November 13
THE ENERGY INDUSTRY'S RISING WATER CHALLENGE - WOOD MACKENZIE
Water poses a variety of business risks for the energy industry, and could play an influential role in shaping the future energy supply mix, accordi ...
Thursday, 07 November 13
HANDY : INDO/CHINA ROUNDS ARE SEEING BIDS AT AROUND $16K
Handy
In the Atlantic we have seen more activity this week with several fixtures being concluded at firm rates. USG/Feast been reported at 30k and ...
Wednesday, 06 November 13
THE BIGGER SIZE SEGMENTS LOST GROUND WHILE SUPRAS AND HANDIES HELD ON TO THEIR GAINS - INTERMODAL
Chartering (Wet: Stable+ / Dry: Stable- )
A mirror image of the week prior for the Dry Bulk market, as once more the bigger size segments los ...
Wednesday, 06 November 13
WILL NEW ORDERS DRIVE THE MARKET DOWN AGAIN ONCE DELIVERIES COMMENCE
"While there are many concerns on whether the new orders will drive the market down again once deliveries commence, the second half of 2013 has ...
Tuesday, 05 November 13
AUSTRALIA'S NEWCASTLE PORT SEES DROP IN COAL EXPORTS W-W
COALspot.com: In the week ended November 4, Power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totaled 2.77 m ...
|
|
|
Showing 4026 to 4030 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- MS Steel International - UAE
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- The University of Queensland
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
|
| |
| |
|
