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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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Thursday, 16 April 15
SHIPPING DEMAND TO SUFFER AS CHINESE SLOWDOWN CONFIRMED SAYS BIMCO'S CHIEF SHIPPING ANALYST - BIMCO
The Chinese economy grew by 7.0% y-o-y in the first quarter of 2015, according to National Bureau of Statistics in China. This is the weakest overa ...
Thursday, 16 April 15
INDIA: COAL IMPORTS RISE BY 33 PC TO 240 MT IN FY'15 - PTI
India’s coal imports in the just concluded FY 2015 increased by 33 per cent to about 240 million tonnes.
“Coal import have gone up ...
Thursday, 16 April 15
CAPESIZE: THE SUPPLY AND DEMAND SIDE ARE NOW SUFFERING HEAVILY - FEARNLEYS
Handy
It seems to be some standoff between owners and charterers in both hemispheres this week. Owners are raising their rates while charterers a ...
Thursday, 16 April 15
Q3 FOB RICHARDS BAY COAL SWAP CLOSED AT $ 55.67 PMT
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q2' 2015 declined month over month.
The Q2 swap has declined US$ 1.90 (3.17%) m ...
Wednesday, 15 April 15
PORT OF NEWCASTLE SHIPPED 13.63 MMT OF COAL IN MARCH; UP 4.41% M-O-M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.227 billi ...
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- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- PTC India Limited - India
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- MS Steel International - UAE
- PowerSource Philippines DevCo
- The University of Queensland
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
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