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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, 23 March 15
SEABORNE WORLD COAL TRADE: GROWTH +5% - GERMAN COAL IMPORTER ASSOCIATION
Hard Coal Market 2014: Despite The Energy Turnaround, Hard Coal Imports To Germany Rise By More Than 6%, Although Hard Coal-Fired Power Generation ...
Sunday, 22 March 15
DRY BULK RATES CONTINUED TO RISE THIS WEEK
COALspot.com: The freight market was steady this week as all the segments increased after many weeks of weak trend.
The Baltic Dry Index (BDI) ...
Friday, 20 March 15
HARD COAL MARKET 2014: DESPITE THE ENERGY TURNAROUND, HARD COAL IMPORTS TO GERMANY RISE BY MORE THAN 6% (PART 1)
Hard Coal Market 2014: Despite The Energy Turnaround, Hard Coal Imports To Germany Rise By More Than 6%, Although Hard Coal-Fired Power Generation ...
Friday, 20 March 15
U.S. WEEKLY COAL PRODUCTION SHOWS 5.9% INCREASE WEEK OVER WEEK - EIA
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.5 million short tons (mmst) of coal ...
Thursday, 19 March 15
HANDY: INDO COAL CARGOS DESTINED FOR INDIA BEING FIXED IN REGION OF $ 7-8K - FEARNLEYS
Handy
The Handy and Supra market has had a week with mixed signals. Although we see more activity in both hemispheres the rates are only up about ...
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- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- MS Steel International - UAE
- The University of Queensland
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
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