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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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Thursday, 05 March 15
BUKIT ASAM BOOKED US$ 1 BILLION REVENUE IN 2014
COALspot.com: Indonesian publicly listed and state owned coal miner PT. Bukit Asam, has announced that, the revenue of the company for the period J ...
Wednesday, 04 March 15
AN AGENDA FOR CHANGE - FITCH INDONESIA CONFERENCE
Fitch Indonesia Conference - 5 March 2015
Fitch Ratings will host its annual Indonesia conference on 5 March 2015.
The theme of this year ...
Wednesday, 04 March 15
KEEP CALM AND INVEST IN DRY - THEODORE NTALAKOS
Keep Calm and Carry On was originally a motivational poster, intended to raise the morale of the British public, produced by the British government ...
Tuesday, 03 March 15
INDONESIAN COAL EXPORT VOLUME TO DECLINE 50% BY 2019
COALspot.com: The Indonesian government is planning to reduce coal export volume by 50% within the next five years while keeping its coal productio ...
Tuesday, 03 March 15
INDIAN THERMAL COAL IMPORTS: STEAMING FORWARD - CLARKSONS
Coal-fired power stations comprise around 60% of India’s power output, and with domestic supply issues and favourable international coal pric ...
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- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- White Energy Company Limited
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Central Electricity Authority - India
- PTC India Limited - India
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
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