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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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Wednesday, 01 April 15
SUPRAMAX & HANDY: RATES HELD STEADY TOWARDS THE WEEKEND
“Despite the fact that the Dry Bulk market closed off on the green last week, sentiment didn't improve by any means, not only because of ...
Wednesday, 01 April 15
WEEKLY SHIPPING MARKET UPDATE - INTERMODAL
There is no doubt that we are still witnessing a very challenging and at the same time very uncertain market, both with respect to dry chartering a ...
Wednesday, 01 April 15
Q4' 15 INDONESIA COAL SWAP CLOSED AT $45.15 W/E 27 MARCH 2015
COALspot.com: Indonesian coal swap for delivery Q2' 2015 drops month on month and week over week.
The Q2 swap declined US$ 1.54 (3.24%) mo ...
Tuesday, 31 March 15
RICHARDS BAY COAL SWAPS GAIN WEEK OVER WEEK
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 declined month over month but increased week on week.
The Q2 swap has ...
Monday, 30 March 15
WORST IS OVER FOR THE DRY BULK MARKET, BUT THE PAIN WILL REMAIN FOR YEARS TO COME, SAYS BIMCO CHIEF ANALYST - HELLENIC SHIPPING
The current demise of the dry bulk market isn’t one to go away anytime soon. That doesn’t mean that it can’t improve, with all sh ...
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- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Marubeni Corporation - India
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- The University of Queensland
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- PTC India Limited - India
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
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