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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, 08 May 15
COAL PRODUCTION IN U.S. UP 3.2% THIS PAST WEEK - EIA
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 17.4 million short ...
Wednesday, 06 May 15
COMBINATION OF HOLIDAYS AND A SHAKY MARKET PUT ADDITIONAL PRESSURE ON RATES
COALspot.com: The combination of holidays and a shaky market is always a recipe for additional pressure on rates and last week was no exception. Wi ...
Wednesday, 06 May 15
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
The first four months of 2015 are now behind us and they make up for a decent amount of time to look back and assess how the year is evolving so fa ...
Tuesday, 05 May 15
MIFA BERSAUDARA UNIT OF ABM INVESTAMA STARTS OPERATING $200M COAL MINE IN ACEH
Reswara Minergi Hartama, a coal mining unit of coal miner ABM Investama known as known as Reswara, inaugurated a $200 million integrated coal minin ...
Tuesday, 05 May 15
FREIGHT DERIVATIVE VOLUMES REACHED TOTALED 14,154 CONTRACTS IN APRIL - SGX
COALspot.com: “Our unique suite of freight and bulk commodity products provides market participants with a wide range of trading strategies a ...
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- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Planning Commission, India
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- The University of Queensland
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- White Energy Company Limited
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
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