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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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Friday, 27 March 15
INDONESIA: NEW REGULATION REQUIRES LETTER OF CREDIT FOR EXPORT OF PRODUCTS FROM NATURAL RESOURCES
The Minister of Trade issued Ministerial Regulation No. 04/M-DAG/PER/1/2015 (“Regulation No. 4/2015”) on 5 January 2015. Regulati ...
Friday, 27 March 15
WEEKLY U.S COAL OUTPUT FALLS 1.7% W-W; 7.9% Y-Y
COALspot.com – United States the world's one of the largest coal producers, produced approximately totaled an estimated 18.2 million ...
Thursday, 26 March 15
CHINA IRON ORE IMPORT FOR THE FIRST 2 MONTHS DECLINED BY 1.2 % Y-O-Y; PANAMAX AUSSIE/CHINA ROUNDS BEING FIXED IN THE $4 -5K RANGE - FEARNLEYS
Handy
There has been more activity in both hemispheres this week. Especially the USG market has picked up with more cargoes for prompter dates en ...
Thursday, 26 March 15
RATES FOR THE SMALLER SIZE SEGMENT CONTINUED TO IMPROVE LAST WEEK - INTERMODAL
To see green across the board is a rare occurrence in the Dry Bulk market nowadays and while the upside in which last week closed off is not of the ...
Thursday, 26 March 15
KYUSHU ELECTRIC POWER OF JAPAN HAS JOINED GLOBALCOAL ONLINE COAL TRADING PLATFORM
globalCOAL® announced today that Kyushu Electric Power, one of Japan’s largest utility companies, has joined its online coal trading plat ...
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- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- The University of Queensland
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
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