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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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Sunday, 08 March 15
FREIGHT RATES FROM INDONESIA TO INDIA IS TRENDING UP
COALspot.com: The freight market continued to see gains this week and all the indices were rose except for Cape index. The BDI was increased 4.62 p ...
Friday, 06 March 15
BALTIC DRY INDEX: IS THIS POWERFUL INDICATOR SIGNALING A GLOBAL RECESSION? - STREET AUTHORITY
Although memories of the Great Recession linger, a case can be made that better days lie ahead.
That’s because central banks around the ...
Friday, 06 March 15
U.S. WEEKLY COAL PRODUCTION ROSE 3.5% WEEK ON WEEK
COALspot.com – United States the world's one of the largest coal producers, produced approximately 17.1 million short tons (mmst) of coal ...
Thursday, 05 March 15
PANAMAX : THE ATLANTIC ROUND IS NOW PAYING AROUND US$ 5K PER DAY
COALspot.com: Handy - The activity in the handy/supra segment is back. “ We see more fresh cargo in the market for 2nd half March dates ...
Thursday, 05 March 15
INDIA WILL BE THE LARGEST DRIVER OF GLOBAL SEABORNE COKING COAL DEMAND GROWTH IN 2015 - WOOD MACKENZIE
Global demand growth will remain weak because of China’s negative demand growth.
COALspot.com: At Coaltrans India, Wood Mackenzie says I ...
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- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
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