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