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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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Tuesday, 17 March 15
GAS TO CHALLENGE COAL IN THE ASIAN POWER GENERATION MIX - WOOD MACKENZIE
KNOWLEDGE TO ELEVATE
Wood Mackenzie says that coal is facing increasing competition from gas in the power sector. Coal has dominated as the fu ...
Tuesday, 17 March 15
RIO TINTO PAID US$ 7.1 BILLION IN TAXES IN 2014
COALspot.com: Rio Tinto has published its latest Taxes paid report, detailing the US$7.1 billion in taxes paid by the company around the world in 2 ...
Tuesday, 17 March 15
NEARLY 17% OF US COAL PRODUCTION UNECONOMIC AT CURRENT MARKET PRICING - WOOD MACKENZIE
COALspot.com: Close to 17% of forecast 2015 US coal production is at risk of idling or closure, totalling 162 million short tons (Mst), as these mi ...
Tuesday, 17 March 15
Q3' SA COAL SWAP CLOSED $57.30 PMT W/E 13 MARCH
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 declined month over month and gained week on week.
The Q2 swap has fe ...
Monday, 16 March 15
MAKING THE WORLD GO ROUND - SEABORNE TRADE! - CLARKSONS
Money, or even love if you prefer, are claimed to make the world go round. For the shipping world, however, it’s trade that sets things spinn ...
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- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- PTC India Limited - India
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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