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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, 23 February 15
Q2' CFR SOUTH CHINA COAL SWAP FOR Q2 ROSE 3.39% M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery rose US$ 1.90 (+3.39%) per MT month over month and declined US$ 0.08 ...
Monday, 23 February 15
Q2' API 5 FOB NEWCASTLE COAL SWAP CLOSED $1 HIGHER THAN Q3
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery rose US$ 3.12 per MT (+6.44%) month over month and fall US$ 0.43 (-0.83%) w ...
Sunday, 22 February 15
THE BALTIC DRY INDEX LOST ALMOST 3.2% OR 17 POINTS WEEK ON WEEK
COALspot.com: The Baltic Dry Index, one of the economic indicators that monitors the health of the world's economy by tracking the price of shi ...
Friday, 20 February 15
GOVT SET TO INCREASE COAL OUTPUT TARGET THIS YEAR - JAKARTA POST
The Energy and Mineral Resources Ministry is planning to increase its coal output target this year as the government seeks to offset the ongoing de ...
Friday, 20 February 15
U.S. PRODUCED AROUND 19.2 MILLION SHORT TONS OF COAL WEEK ON WEEK
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.2 million short tons (mmst) of coal ...
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- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Parliament of New Zealand
- ICICI Bank Limited - India
- PTC India Limited - India
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
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