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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, 16 March 15
API 5 FOB NEWCASTLE COAL SWAPS: DECLINED
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 2.48 per MT (-4.77%) month over month and US$ 0.93 (-1.84%) we ...
Monday, 16 March 15
CFR SOUTH CHINA THERMAL COAL SWAP DECLINED 3.74% M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 2.17 (-3.74%) per MT month over month and US$ 0.67 (-1 ...
Sunday, 15 March 15
BDI DECLINED LESSER THAN 1% WEEK OVER WEEK; INDO-INDIA FIRM
COALspot.com: The most of indices, including bulk dry index were falling this week. The BDI has been down by just 0.53 points and closing at 562 po ...
Saturday, 14 March 15
CAPESIZE DRY BULKERS TO AVERAGE BETWEEN $3,000 AND $9,000/DAY IN THE COMING WEEKS SAYS BIMCO
BIMCO issued its latest short-term estimates for the dry bulk market. For March/May: BIMCO assesses that the Capesize time charter (T/C) average ra ...
Friday, 13 March 15
U.S. COAL PRODUCTION UP 2.3% WEEK OVER WEEK
COALspot.com – United States the world's one of the largest coal producers, produced approximately 17.5 million short tons (mmst) of coal ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- GMR Energy Limited - India
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Planning Commission, India
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- The University of Queensland
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
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