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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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Saturday, 14 February 15
SHALE GAS AND TIGHT OIL ARE COMMERCIALLY PRODUCED IN JUST FOUR COUNTRIES - EIA
KNOWLEDGE TO ELEVATE
The United States, Canada, China, and Argentina are currently the only four countries in the world that are producing com ...
Friday, 13 February 15
U.S. WEEKLY COAL PRODUCTION SHOWS 10% DECLINE
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.1 million short tons (mmst) of coal ...
Friday, 13 February 15
SMALL AND MEDIUM-SIZED SHIP OWNERS SQUEEZED OUT OF THE MARKET ON CRASHING DRY BULK MARKET AND EUROZONE CRISIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Financing issues have started to tighten the noose in the throats of small and medium-size ship owners, who were already facing problems over the p ...
Thursday, 12 February 15
CAPESIZE: THE BEST DESCRIPTION FOR THE MARKET IS, FLAT - FEARNRESEARCH
Handy
The handy and supra market is also being affected by the marginal volume of activity in the commodity sales. We see a small upturn in the T ...
Thursday, 12 February 15
DRY BULK OWNERS SCRAP MORE VESSELS, AS MARKET REACHES HISTORICAL LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has reached historical lows this week, with the Baltic Dry Index (BDI) now trading at levels below operating expense levels for ...
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- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Australian Coal Association
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- PTC India Limited - India
- MS Steel International - UAE
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- Siam City Cement - Thailand
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
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