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Wednesday, 08 April 15
CHINA BURNS HALF OF THE WORLD'S COAL - CHRISTOPHER T. WHITTY
 Intermodal Weekly Market Update
China is the world's largest consumer of coal, using more coal each year than the United States, the European Union, and Japan combined. Coal power has been the dominant source of energy used to fuel the rapid economic development of China in the past two decades, with significant impact on its physical environment and human population. China relies on coal power for approximately 70-80% of its energy, with 45% used for the industrial sector and the remainder used to generate electricity. Nevertheless, China has been slowly entering into a new era where clean-fuel policies and new regulations are being implemented.
China burns half of the world’s coal and has caused more than half of total CO2 growth globally for the past decade, and many believe that the reversal in coal use may represent a significant progress in slowing down climate change. According to the China Electricity Council, utilization rates at China’s thermal power plants fired by coal, natural gas and oil, are set to fall further this year. Beijing is aiming to raise the share of non-fossil fuels in primary energy use to 15% in 2020, up from 11.2%last year.
Lower coal use is already evident in China with power companies using a greater mix of hydro, nuclear and renewable options, especially wind. China’s coal imports fell 11% in 2014 compared to the previous year, the first annual decline in at least a decade. Lignite, thermal and metallurgical coal, hit a 43-month low of 16.78 million mt in January, falling 53.2% year on year – the seventh consecutive year-on-year decline and the biggest decline in the past 15 years.
The Australian and Indonesian coal exporters are obviously focusing on the world’s largest consumer of the fuel and they also have to deal with the quality checks under the new ash and Sulphur restrictions. As a result of this uncertainty, some are even holding back shipments to China.
Australian coal, which is considered the benchmark for Asia, slumped 30% last year and dropped below $60/tonne this month, the lowest level since May 2007. With both imports and prices of the commodity falling further and unless something changes dramatically in the future, it looks like coal will lose its position in the fossil fuel markets. As a result, freight rates for Panamaxes and Kamsarmaxes will most likely continue to be adversely affected.
Some say that the Indian market will still exhibit wide scale demand for the continued importing of coal at a large scale but, on the other hand, they will never push up prices. Indian power plants have their own limitations and they are not free to pass any rise in coal prices through to consumers. Still, in Indian East Coast ports coal stockpiles are rising up to record levels and the power plants are only buying as much as required from these huge reserves in major ports. Coal stocks at 16 main Indian ports were at 16.48 million metric tons as of March 20, whereas at the end of March last year, coal stocks were a mere 7.7 million metric tons.
From our side we can only hope that Asian countries and mainly China will continue to depend on coal at least for the next couple of years. It should take considerable time for China’s transition to more clean sources of energy to run its power plants. But on top of that we would also like to see the price of the commodity at sustainable levels that can support the industry and consequently demand for seaborne trade.
Christopher T. Whitty
Marketing Manager - Harbour Towage & Port Agency
Cotzias Intermodal Shipping Inc.
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms. Eva Tzima
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no re-producing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Monday, 15 June 15
API 5 FOB NEWCASTLE COAL SWAP: Q1'16 DELIVERY CLOSED 1.14% LOWER THAN Q4'15 DELIVERY PRICE
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery up $ 1.10 per MT (2.47%) month over month to US$ 45.67 per mt. The swap ...
Monday, 15 June 15
CFR SOUTH CHINA COAL SWAP: ROSE M-O-M; DECLINED W-O-W
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery rose US$ 1.43 (2.82%) per MT month over month.
A commodity swap is a ...
Sunday, 14 June 15
THE FREIGHT MARKET FINISHED THE WEEK UP COMPARED TO LAST WEEK
COALspot.com: The freight market finished the week up compared to last week. All the segments except for Cape index were up. Cape segment was ...
Friday, 12 June 15
EXPECTATIONS IN REGARDS TO THE SUMMER SEASON VARY ACROSS THE MARKET - INTERMODAL
The Dry Bulk market closed off last slightly up last week, with the BDI re-gaining the 600 points level, while the driving force behind the increas ...
Friday, 12 June 15
U.S. PRODUCED 15.1 MMST OF COAL THIS PAST WEEK - EIA
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 15.1 million short ...
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- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- The University of Queensland
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
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