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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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Sunday, 08 February 15
BDI FELL CONTINUOUSLY HIT A THREE DECADES LOW
COALspot.com: This week Baltic Exchange Dry Freight Index (BDI) fell continuously hit a three decades low.
The BDI continuously fell and was d ...
Friday, 06 February 15
WEEKLY U.S. COAL PRODUCTION UP AN ESTIMATED 1.1% FROM LAST WEEK - EIA
COALspot.com – United States the world's one of the largest coal producers, produced approximately 20.1 million short tons (mmst) of coal ...
Friday, 06 February 15
SHIP DAMAGED BY FIRE CAUSED BY PIRATES FOUND TO BE CONSTRUCTIVE TOTAL LOSS - TAYLOR WESSING
KNOWLEDGE TO ELEVATE
The High Court was asked to determine a number of preliminary issues, including whether a vessel was a constructive total ...
Thursday, 05 February 15
BDI HAS NOW FALLEN A LEVEL CLOSE TO THE INDEX'S HISTORIC LOW - INTERMODAL
They say a picture is worth a thousand words and in this instance just one look at the tables above is enough to understand the great pressure the ...
Thursday, 05 February 15
ULTRAMAX LEVELS FROM INDIA TO CHINA IN THE MID US$ 5000'S - FEARNLEYS AS
Handy
Despite the overall weak sentiment, there is a scent of optimism in the Atlantic market for ppt dates. Continent is still struggling with o ...
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- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Xindia Steels Limited - India
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Australian Coal Association
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
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