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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, 25 March 15
MARKET INSIGHT: TANKER CHARTERING - KATERINA RESTIS
The 1st of January 2015, as broadly reported, denoted the beginning date of new and progressive emission regulations for vessels operating within t ...
Wednesday, 25 March 15
AUSTRALIA SET TO ONCE AGAIN BE THE WORLD'S LARGEST COAL EXPORTER - COAL, MINERALS COUNCIL OF AUSTRALIA
Greg Evans, Executive Director - Coal, Minerals Council of Australia
Media Release: The latest Resources and Energy Quarterly published by the ...
Wednesday, 25 March 15
AUSTRALIA UPSTREAM ENERGY FIRMS FACE RISING OIL PRICE EXPOSURE - FITCH
Fitch Ratings says the Australian oil and gas companies involved in exploration and production face higher exposure to oil price-linked revenues, w ...
Wednesday, 25 March 15
2014 : UK COAL IMPORTS DECLINED 17%; GERMANY COAL IMPORTS UP 6%
Hard Coal Market 2014: Despite The Energy Turnaround, Hard Coal Imports To Germany Rise By More Than 6%, Although Hard Coal-Fired Power Generation ...
Tuesday, 24 March 15
A WEAK WEEK FOR FOB INDONESIA COAL SWAP
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 drop month on month and week over week.
The Q2 swap fell US$ 2.48 (5.12%) month ...
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- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
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