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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.
Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Monday, 30 March 15
Q3' 15 CFR SOUTH CHINA COAL SWAP: DECLINED 8.7% M-M; 12.77% Y-TO-D
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 5.00 (-8.70%) per MT month over month and US$ 1.33 (-2 ...
Monday, 30 March 15
Q2' FOB NEWCASTLE COAL SWAP CLOSED 4.47% HIGHER THAN Q4' CLOSING PRICE
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 5.42 per MT (-10.43%) month over month and US$ 1.60 (-3.32%) w ...
Sunday, 29 March 15
INDO - INDIA: SUPRAMAX & PANAMAX FREIGHT MARKET STEADY
COALspot.com: The freight market was almost stable as all segments slightly up except Panamax sector.
The BDI was up by just 0.85% week over w ...
Saturday, 28 March 15
IS NORTHERN EUROPE THE NEW MINING ELDORADO?
The Europe Mining 2015 Summit, organised by Global Summits organizer IRN on 17-18 June in Amsterdam, The Netherlands, will gather senior level repr ...
Saturday, 28 March 15
THE DRY BULK FLEET AT BREAKING POINT - CLARKSONS
The severe oversupply in the bulkcarrier fleet has contributed to the current trough in the dry bulk market, putting considerable financial pressur ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Economic Council, Georgia
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
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