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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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Friday, 10 April 15
US COAL PRODUCTION FELL 4.7% W-O-W : EIA
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 17.4 million short ...
Friday, 10 April 15
DRY BULK MARKET'S DOWNFALL ALSO OFFER INVESTMENT BARGAINS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Dry bulk market rates have fallen to historical lows over the past few weeks, with no clear path of recovery, at least in the near term. As such, m ...
Thursday, 09 April 15
CAPESIZE: RATES ARE STILL DISAPPOINTING - FEARNLEYS
Handy
The handy market had a stronger sentiment before the Easter holidays, but have as the bigger panamaxes seen a softening tendency this week. ...
Wednesday, 08 April 15
DRY BULK MARKET SEEMS UNABLE TO CATCH A BREAK - INTERMODAL
COALspot.com: The Dry Bulk market seems unable to catch a break these days.
According to Intermodal, following the market stabilization that p ...
Tuesday, 07 April 15
SUB-BIT FOB INDONESIA COAL SWAP KEEPS DROPPING; DROPPED 2% W-W
COALspot.com: Indonesian coal swap for delivery Q2 2015 declined month on month and week over week.
The Q2 swap was declined US$ 2.44 (5.14%) ...
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- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
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