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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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Wednesday, 11 March 15
DRY BULK MARKET CLOSED OFF ON THE GREEN FOR A SECOND WEEK IN A ROW - INTERMODAL
COALspot.com: The Dry Bulk market closed off on the green for a second week in a row, while the performance of Capesizes hindered a more substantia ...
Wednesday, 11 March 15
MARKET INSIGHT : NEWBUILDINGS - PANOS TSILINGIRIS
From a cost-based, buy-low perspective, there is currently a buying opportunity in the second-hand dry bulk market. I am an anti-cyclical (buy-low) ...
Wednesday, 11 March 15
DRY BULK MARKET: ALL IS NOT LOST FOR A RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The low cost of commodities across the board could trigger an increase of trade among many countries, which in turn could lead to a recovery of the ...
Wednesday, 11 March 15
U.S. ELECTRIC GENERATING COMPANIES TO ADD MORE THAN 20 GW OF GENERATING CAPACITY IN 2015; 16 GW OF GENERATING CAPACITY IS EXPECTED TO RETIRE IN 2015
COALspot.com: In 2015, electric generating companies in U.S. expect to add more than 20 gigawatts (GW) of utility-scale generating capacity to the ...
Tuesday, 10 March 15
OIL PRICE FORECASTING - IGNORE THE EXPERTS: COLIN MARSHALL
KNOWLEDGE TO ELEVATE
Experts put themselves on a pedestal, making claims to have special forecasting abilities for oil price trends. They, too ...
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- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- MS Steel International - UAE
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
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