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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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Monday, 20 April 15
Q4' 2015 API 8 CFR SOUTH CHINA COAL SWAP CLOSED US$ 50.28 PMT
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 4.03 (-7.28%) per MT month over month and US$ 0.05 (-0 ...
Sunday, 19 April 15
THE OCEAN FREIGHT MARKET SHOWED STEADY THIS WEEK
COALspot.com: The freight market was fairly steady this week. The BDI was up 2.93% to 597 points week over week. The cape index was also increased ...
Friday, 17 April 15
IHS ENERGY EUROPEAN COAL OUTLOOK CONFERENCE
Attend the IHS Energy European Coal Outlook Conference 19-20 May in Nice, France and learn about timely concerns in today’s coal industry.
...
Friday, 17 April 15
COAL PRODUCTION IN THE U.S. UP THIS PAST WEEK - EIA
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 18.0 million short ...
Thursday, 16 April 15
NEW COMMODITY SUPERHIGHWAY WILL EMERGE IN CHINA, ALTERING ENERGY TRADE FLOWS - WOOD MACKENZIE
Wood Mackenzie says that China’s Go West strategy – encouraging coastal to inland flow of capital and people - will result in the forma ...
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- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Planning Commission, India
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- PTC India Limited - India
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Economic Council, Georgia
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
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