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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.
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Thursday, 11 June 15
IS COAL INDUSTRY GOING TO HIT A BRICK WALL?
COALspot.com - The Director General of Mineral and Coal of Indonesia revised down Indonesian coal benchmark price once again to US$ 59.59 per MT fo ...
Wednesday, 10 June 15
TANKER MARKET INSIGHT - STELIOS KOLLINTZAS
As we go through the end of the 2nd quarter of the year it is evident that the tanker shipping markets have been rewarding and definitely been show ...
Wednesday, 10 June 15
WORLD COAL MARKET HEADING TO NEW EQUILIBRIUM: MINISTER - JAKARTA POST
Energy and Mineral Resources Minister Sudirman Said has said the world’s coal market is heading towards a new balance, which will make Indone ...
Wednesday, 10 June 15
FOB INDONESIA COAL SWAP ROSE W-O-W AND M-O-M
COALspot.com: Indonesian coal swap for delivery Q3 2015 gains month on month and week over week, this past week.
The Q3 swap was climbed by $ ...
Tuesday, 09 June 15
GLOBALCOAL IMPLEMENTS VOLUMETRIC SIZE LIMITS IN RICHARDS BAY MARKET
COALspot.com: globalCOAL today announced that following recent market consultation, it will limit bids, offers and trades in the fixed price Phys R ...
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- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- The University of Queensland
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- GMR Energy Limited - India
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