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