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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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Tuesday, 17 February 15
Q2' FOB RICHARDS BAY COAL SWAP CLOSED AT $63.45; $ 1.85 HIGHER COMPARED TO Q4 CLOSING
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 surge month over month, week on week and day on day.
The Q2 swap has ...
Monday, 16 February 15
COAL MINING SLUMP A BLESSING IN DISGUISE - THE JAKARTA POST
The growth of the coal-mining industry, which has diminished in the last two years, is expected to slump even further this year following weakening ...
Monday, 16 February 15
FOB NEWCASTLE COAL SWAPS SURGE WEEK ON WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery rose US$ 1.31 per MT (+2.59%) week over week and US$ 4.35 (+9.13%) month on ...
Monday, 16 February 15
Q2' 15 - CFR SOUTH CHINA COAL SWAP ROSE 5.22% M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery rose US$ 2.88 (+5.22%) per MT month over month and US$ 1.08 (+1.90% ...
Sunday, 15 February 15
BALTIC DRY INDEX CONTINUALLY DIPPED IN RED
COALspot.com: The Baltic Dry Index continues its decline and fell 5.18 pct to 530 points week on week due to falling commodity prices and declining ...
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- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Australian Coal Association
- Parliament of New Zealand
- PowerSource Philippines DevCo
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
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