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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, 13 May 15
MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
The EU governments in an effort to face their economic crisis individually are facing lack of political cohesion. This reflects back to each econom ...
Tuesday, 12 May 15
FOB INDONESIA COAL SWAP; DECLINED M-O-M AND W-O-W
COALspot.com: Indonesian coal swap for delivery Q3 2015 lost week over week and month on month, this past week.
The Q3 swap was declined US$ 0 ...
Tuesday, 12 May 15
FOB RICHARDS BAY COAL SWAPS: LOST W-O-W; GAIN M-O-M
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 increased month over month and decreased week over week.
The Q3 swap h ...
Monday, 11 May 15
DRY BULK CARRIER ORDERS CRASH TO A TWENTY YEAR LOW - CLARKSONS
In the last four months dry bulk orders have fallen to 0.4m dwt per month, the lowest level since the 1990s. This is a massive 98% reduction from t ...
Monday, 11 May 15
HBA PRICE DIPS FURTHER; LOWEST RECORDED SINCE JANUARY 2009
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down Indonesian coal benchmark prices to US$ 61.08 per MT in May ...
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- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- ASAPP Information Group - India
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
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