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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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Tuesday, 07 April 15
Q3 FOB RICHARDS BAY COAL SWAP CLOSED AT $ 55.96 PMT; DOWN 8.40% M-M
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q2' 2015 declined month over month and week on week.
The Q2 swap has declined U ...
Monday, 06 April 15
INDONESIA'S HBA FIXED AT US$ 64.48 PMT FOR APRIL DELIVERY; DOWN 4.84% M-M
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down Indonesian coal benchmark prices to US$ 64.48 per MT in Apr ...
Monday, 06 April 15
FOB NEWCASTLE COAL SWAP DECLINED 12% MONTH OVER MONTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 6.23 per MT (-12%) month over month and US$ 0.86 (-1.85%) week ...
Monday, 06 April 15
CFR SOUTH CHINA COAL SWAP FALL CONTINUES
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 5.96 (-10.37%) per MT month over month and US$ 0.98 (- ...
Sunday, 05 April 15
FREIGHT RATES UNDER PRESSURE WEEK OVER WEEK
COALspot.com: The Indices fell on all segments and the market seemed to soften this week.
The BDI was almost lost 1.34% week over week and clo ...
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- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- The University of Queensland
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Wilmar Investment Holdings
- Posco Energy - South Korea
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