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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, 12 February 15
INDONESIAN COAL PRICE REFERENCE INCHED DOWN 1.44% IN FEBRUARY
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down Indonesian coal bench mark price this month to US$ 62.92 pe ...
Thursday, 12 February 15
NEWBUILDING ORDERING ACTIVITY DRAGS ON, AS OWNERS ARE LOOKING FOR LOWER PRICES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship owners appear to be waiting for lower prices in their dealings with Asian shipyards, as the dry bulk market is at historical lows. According t ...
Wednesday, 11 February 15
DRY BULK MARKET REMAINED UNDER PRESSURE : STABILIZING CAPE MARKET HARDLY HELPED SENTIMENT
COALspot.com: The Dry Bulk market remained under pressure last week, while the stabilizing Cape market hardly helped sentiment.
Greece based s ...
Wednesday, 11 February 15
BDI HITTING THE ALL-TIME LOW; FFA MARKETS NOT SHOWING ANY POSITIVE SIGNS
With the BDI hitting the all-time low and with FFA markets not showing any positive signs for a possible recovery in the near future, pessimism is ...
Tuesday, 10 February 15
IRON ORE MARKET TO REMAIN OVERSUPPLIED IN 2015: PRICE FORECAST $70/T - WOOD MACKENZIE
COALspot.com: With January witnessing the price of iron ore falling to its lowest levels since May 2009, Roger Emslie, Principal Metals & ...
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- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Thai Mozambique Logistica
- The University of Queensland
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
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