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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, 24 April 15
CHINA IRON ORE MINE CLOSURES TO SLOW ON GOVERNMENT SUPPORT - FITCH
Fitch Ratings expects fewer Chinese iron ore mine closures in 2015 as the government takes steps to support the industry, which has been struggling ...
Friday, 24 April 15
IS INDIA THE 'NEW CHINA' WHEN IT COMES TO THE DRY BULK MARKET? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been feeling the “heat” of China’s slowdown and together with the industry’s own failings, with ove ...
Friday, 24 April 15
GLOBAL STEEL PRODUCTION OUTSIDE OF CHINA CONTINUES TO FARE VERY POORLY - JEFFREY LANDSBERG
COALspot.com: Data released this week showed that global crude steel production totaled approximately 138.05 million tons in March.
Wha ...
Friday, 24 April 15
WEEKLY U.S. COAL PRODUCTION ESTIMATE FALLS 5.7% FROM LAST WEEK
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 17.0 million short ...
Wednesday, 22 April 15
PANAMAX : ATLANTIC HOLDING ON TO THE GAINS OF THE PREVIOUS WEEK; PACIFIC BUSINESS SLID QUIETLY
COALspot.com: The Dry Bulk market managed to close off the week on a positive note last Friday, while as opposed to what we have been used to, it w ...
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- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- The University of Queensland
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- MS Steel International - UAE
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
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