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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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Wednesday, 20 May 15
TANKER MARKET INSIGHT - JOHN N. COTZIAS
Since Early October 2014 the tanker market has been experiencing a very positive momentum and has continued its strong performance so far in 2015. ...
Wednesday, 20 May 15
FOB RICHARDS BAY COAL SWAPS GAINED M-O-M, W-O-W
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 increased month over month and week over week.
The Q3 swap has increas ...
Wednesday, 20 May 15
BUKIT ASAM'S AVERAGE EXPORT PRICE WAS UNDER PRESSURE DURING Q1
COALspot.com: Indonesia’s state owned coal producer saw their profits fall in the first quarter of the year compared to the same period last ...
Wednesday, 20 May 15
IRON ORE PRICES TO REMAIN WEAK ON LOW DEMAND, HIGH OUTPUT - FITCH
Iron ore prices will stay low for several years due to increasing supply, weak demand growth in China and the slower-than-expected closure of high- ...
Tuesday, 19 May 15
KOMIPO IS SEEKING TOTAL 2.34 MMT OF HCV AND LCV COAL FOR 2015 - 2017
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender to buy total 2.34 million Metric Tons (MT) of HCV ...
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- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- White Energy Company Limited
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
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