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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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Thursday, 03 October 13
INDONESIA AUGUST COAL EXPORTS FALL 12.90 % FROM JULY TO 30.71 MIL MT
COALspot.com: Indonesia, the 15th largest economy in world, 4th largest coal producer in world and world's largest multi grade coal exporter ...
Thursday, 03 October 13
TOP FOUR U.S. COAL COMPANIES SUPPLIED MORE THAN HALF OF U.S. COAL PRODUCTION IN 2011 - EIA
In the past two years, more than half of U.S. coal production was attributable to the top four coal producers, the result of changes in regional pro ...
Thursday, 03 October 13
HANDY: PERIOD MARKET STAND IN GOOD POSITION - FEARNRESEARCH
Handy
Nickel ore and Bauxite was active last week but slowed down now due to Chinese holidays. Ships opened in North China fixed at US$ 11-13k leve ...
Wednesday, 02 October 13
DRY BULK MARKET IS STILL MAINTAINING ITS UPWARD DIRECTION
Chartering (Wet: Stable- / Dry: Firm+)
Despite the fact that rates for Capes didn't continue their crazy ride this past week, the Dry Bulk market ...
Wednesday, 02 October 13
HOW LONG WILL THIS LATEST CAPESIZE RALLY LAST? - TASOS PAPADOPOULOS
By Tasos Papadopoulos, SnP Broker, Intermodal
The surge in iron ore trade has translated into a massive boost in daily earnings for capes; with t ...
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Showing 4086 to 4090 news of total 6871 |
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- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Australian Coal Association
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- The University of Queensland
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Planning Commission, India
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Minerals Council of Australia
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
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