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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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Wednesday, 31 July 13
COAL GASIFICATION
IBC’s Coal Gasification conference explores the opportunities for coal gasification investment and development in Asia.
With depleting dome ...
Wednesday, 31 July 13
SUPRAMAX : THE PACIFIC BASIN WAS MOVING ON A POSITIVE PATH - EVA TZIMA
COALspot.com: Cape - Despite holding their ground fairly well early on in the week, Capes in the Atlantic basin gave in to the mounting pressure fro ...
Tuesday, 30 July 13
HARD COAL ON THE WAY TO BECOMING THE WORLD'S MOST IMPORTANT ENERGY SOURCE - VDKI
Press Release : Hard coal continued to be the world’s fastest-growing fossil primary energy source in 2012. It covered about 28% of the world ...
Tuesday, 30 July 13
WIJAYA TRI UTAMA PURCHASES MICROCOAL TECHNOLOGIES' CLEAN COAL UPGRADING FACILITY
- First MCI commercial scale application of proprietary microwave technology to upgrade coal thermal output and reduce pollutants
- MicroCoal to re ...
Tuesday, 30 July 13
KOMIPO INVITES BIDS FOR 520,000 MT OF 5,700 KCAL/KG COAL ON NAR BASIS FOR H1, 2014
COALspot.com : Korea Midland Power Co., Ltd. has invited bids for 520,000 Metric Tons (MT) of coal with calorific value 5,700 kcal/kg on NAR basis f ...
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- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Planning Commission, India
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
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