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