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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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Monday, 01 June 15
35,000 MW POWER PLANTS TO BOOST COAL CONSUMPTION - JP
The government’s program to develop 35,000 megawatt (MW) power plants will increase domestic coal consumption, which currently stands at arou ...
Monday, 01 June 15
API 5 FOB NEWCASTLE COAL SWAP; Q1'16 CLOSED LOWER COMPARED TO Q3'15
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery gained US$ 0.36 per MT (0.80%) month over month. The swap was closed at US$ ...
Monday, 01 June 15
CFR SOUTH CHINA COAL SWAP: GAINED W-W, M-M; Q1'16 CLOSED HIGHER THAN Q3'15
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery up US$ 1.15 (2.26%) per MT month over month.
A commodity swap is a f ...
Sunday, 31 May 15
CAPE AND PANAMAX SEGMENTS SLIDE CONTINUES
COALspot.com: The BDI was up about 0.5 pct week on week and closed at 589 points while the cape index was fell 0.73 pct and closed at 810 po ...
Friday, 29 May 15
DRY BULK MARKET IS THE VICTIM OF A SHIFT IN DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The fall in dry bulk freight rates is attributed, in large part, to the substantial decrease of China’s thermal coal imports, a major commodi ...
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- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Latin American Coal - Colombia
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- White Energy Company Limited
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
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