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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.
Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Tuesday, 05 May 15
OVERSUPPLY PUTTING INDONESIAN COAL PRICES UNDER PRESSURE
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$ 1 ...
Tuesday, 05 May 15
FOB RICHARDS BAY COAL SWAPS MOVE NORTH THIS PAST WEEK
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 ...
Monday, 04 May 15
FOB NEWCASTLE COAL SWAP Q1'16 PRICES SLIGHTLY LOWER COMPARED TO Q3'15 PRICE
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery gained US$ 1.38 per MT (3.12%) month over month and US$ 0.93 week on week. ...
Monday, 04 May 15
Q1' 2016 CFR SOUTH CHINA THERMAL COAL SWAP CLOSED HIGH THAN 2015 DERIVATIVES
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery declined US$ 0.15 (-0.29%) per MT month over month and increased US$ 0.07 ...
Sunday, 03 May 15
DRY BULK INDICES WEAKEN SLIGHTLY THIS WEEK
COALspot.com: The freight market was flat to weak for the week starting from 27 April. The BDI was fell around 2.17% closed at 580 points.
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- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Australian Coal Association
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
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