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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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Tuesday, 22 October 13
NEWCASTLE PORT SERVED 38 OCEAN GOING VESSELS IN A WEEK
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port up 0.64 per cent week on week to 3.21 million mt for ...
Tuesday, 22 October 13
KOWEPO INVITED BIDS FOR MULTI GRADE COAL
COALspot.com - Korea Western Power Co., Ltd. (KOWEPO), a Korean electricity generator intends to procure 240,000 tons of multi grade coal for its Ta ...
Monday, 21 October 13
SOUTH CHINA COAL SWAP FOR 2014 DELIVERIES SHOW A POSITIVE TREND
COALspot.com : API 8 CFR South China Coal swaps for average Q4 2013 delivery fell 0.02 percept M-M on Friday 18 October 2013. The CFR South China Co ...
Sunday, 20 October 13
Q3'14 SUB-BIT INDO COAL SWAP CLOSED AT $ 61.80 PMT W/E 18 OCT' 13
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q4 2013 delivery fell 0.93 percept month on month on Friday 18 October 201 ...
Saturday, 19 October 13
NICKEL ORE SHIPMENTS KEEP SUPRAMAX CHARTER RATES STEADY - CAPT. REDDY
COALspot.com : The futures freight market continued to go down which was reflected in the physical markets as well.
The BDI continued to be soft ...
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- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- The University of Queensland
- CNBM International Corporation - China
- Deloitte Consulting - India
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Planning Commission, India
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
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