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