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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, 22 April 15
TANKER MARKET INSIGHT - STRATOS TINIAKOS
The current environment we experience as a result of low crude oil prices is characterized by the increased demand for petroleum products in OECD c ...
Tuesday, 21 April 15
SUB-BIT FOB INDONESIA COAL SWAP: GAINED W-O-W; DECLINED M-O-M
COALspot.com: Indonesian coal swap for delivery Q2 2015 gained week over week and declined month on month.
The Q2 swap was declined US$ 1.75 ( ...
Tuesday, 21 April 15
FOB RICHARDS BAY COAL SWAP MOVE UP SLIGHTLY
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q2' 2015 increased slightly month over month.
The Q2 swap has increased US$ 0.2 ...
Monday, 20 April 15
BUKIT ASAM TAKES OVER STAKE IN JV FROM RAJAWALI - JP
State-owned coal miner PT Bukit Asam (PTBA) announced Friday that it had taken over almost the entire stake in a joint venture (JV) that it created ...
Monday, 20 April 15
FOB NEWCASTLE COAL SWAP GAINED WEEK ON WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 3.54 per MT (-7.21%) month over month and gained US$ 0.30 week ...
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- CNBM International Corporation - China
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Planning Commission, India
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- The University of Queensland
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
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