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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
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Friday, 01 November 13
DRY BULK MARKET IN FIRST POSITIVE SIGN IN DAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Owners of dry bulk carriers are well aware of the rollercoaster ride that has been the market for their vessels over the past few years. This trend ...
Thursday, 31 October 13
HANDY: ACTIVE; PANAMAX: QUIET; CAPESIZE: NO LIGHT
Handy
The handy market had an active week however not directly translated into the rates we´ve seen in the Pacific. We see more coal and baux ...
Wednesday, 30 October 13
INDONESIAN STATE OWNED COAL MINER HAS EXPORTED 7.02 MILLION TONS OF COAL IN 9 MONTHS
COALspot.com : PT. Bukit Asam, Indonesian state owned coal miner has sold 13.24 million tons of coal for the period January - September 2013. Accord ...
Wednesday, 30 October 13
DRY BULK MARKET HAS LOST FURTHER GROUND THIS PAST WEEK - INTERMODAL
Chartering (Wet: Firm+ / Dry: Stable-)
The Dry Bulk market has lost further ground this past week, as de-creased activity in both basins for both C ...
Wednesday, 30 October 13
CAPESIZE: DOWNWARD; SUPRAS AND HANDIES: STABLE - INTERMODAL
The Dry Bulk market has resumed its downward movement, noting another dip for a third week in a row. The larger size segments were responsible for p ...
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Showing 4036 to 4040 news of total 6871 |
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- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Planning Commission, India
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
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