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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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Friday, 30 January 15
CAN BULKER CONVERSIONS SPOIL THE TANKER MARKET'S PARTY? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Oversupply of tonnage has always been in the back of the head of ship owners when it comes to taking advantage of favorable market conditions. As s ...
Thursday, 29 January 15
CHINA ENERGY DEMAND MUST BE REVIEWED DUE TO FUNDAMENTAL ECONOMIC CHANGES - WOOD MACKENZIE
New patterns emerging as energy demand growth decoupled significantly from GDP growth for the first time in 2014
Wood Mackenzie says 2014 was ...
Thursday, 29 January 15
CAPE MARKET IS STILL STRUGGLING WITH LOW DEMAND AND LOW COMMODITY PRICES
Handy
Supramax rates are heading south with slipping rates all across the block. USG activity is slow with mid-week levels in the mid 8.000s, Fea ...
Wednesday, 28 January 15
MARKET INSIGHT - STELIOS KOLLINTZAS
With most traders having returned to action from year end festivities, we have already seen signs of activity in the specialized product markets. L ...
Wednesday, 28 January 15
CAPES CONTINUED THEIR UPWARD MOVEMENT LAST WEEK - INTERMODAL
COALspot.com: The Dry Bulk market displayed a mirror performance of that of the week prior, with the Capesize market correcting further upwards and ...
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- Minerals Council of Australia
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- PTC India Limited - India
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Australian Coal Association
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Planning Commission, India
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- The University of Queensland
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
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