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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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Friday, 29 May 15
COAL PRODUCTION IN THE U.S. ALMOST FLAT THIS PAST WEEK
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 16.1 million short ...
Friday, 29 May 15
SOUTH KOREAN STATE-OWNED UTILITY KOREA MIDLAND POWER INVITES BIDS FOR 780K MT OF COAL FOR H2' 15
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender to buy total 780K Metric Tons (MT) of HCV and LCV ...
Thursday, 28 May 15
TIMEBAR FOR DEMURRAGE CLAIMS - SKULD
KNOWLEDGE TO ELEVATE
English law has traditionally had a strict approach to contractually agreed time bars between commercial parties as well ...
Wednesday, 27 May 15
MARKET INSIGHT - TIMOS PAPADIMITRIOU
Earlier in the year I looked at how the market was reacting to the prolonged fall of the price of oil. Back then it was still unclear if the fallin ...
Tuesday, 26 May 15
HOW HAS THE DROP IN OIL PRICES AFFECTED OTHER COMMODITIES? - CLYDE & CO
KNOWLEDGE TO ELEVATE
The effects of the dramatic drop in the price of both Ice March Brent, the international oil marker, and its US counterpa ...
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- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
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