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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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Monday, 02 February 15
API 8 CFR SOUTH CHINA COAL SWAP PICKS UP W-O-W
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery declined US$ 0.81 (-1.36%) per MT month over month and gained US$ 0.18&nb ...
Monday, 02 February 15
SOUTH KOREA'S KOMIPO INVITES BIDS FOR 280K MT OF SUB-BITUMINOUS COAL
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender to buy total 280,000 MT of Sub-bituminous coal coa ...
Sunday, 01 February 15
INDONESIA-TO-INDIA COAL FREIGHT RATES REMAIN WEAK NEXT WEEK
COALspot.com: The BDI continued its fall reached lowest levels since 1986 this week.
The BDI declined 15.55 pct to 608 points on Friday 30, Ja ...
Friday, 30 January 15
CONTANGO AND TANKERS - SKULD
KNOWLEDGE TO ELEVATE
Like an invitation to a dance, the word contango may have some people flustered, but for tanker owners this market phenome ...
Friday, 30 January 15
U.S. YEAR-TO-DATE COAL PRODUCTION REACHED 65.7 MMST
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.9 million short tons (mmst) of coal ...
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- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
- Australian Coal Association
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- PTC India Limited - India
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Planning Commission, India
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Parliament of New Zealand
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- VISA Power Limited - India
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
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