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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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- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- ASAPP Information Group - India
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
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