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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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Tuesday, 27 January 15
Q1 FOB INDONESIA COAL SWAP CLOSED AT $ 47.87 FOR WEEK ENDING JAN. 23
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 gain week over week and declined month on month.
The Q1 swap has decline US$ 0.9 ...
Tuesday, 27 January 15
Q2 FOB NEWCASTLE COAL SWAP UP 4.5% W-O-W
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery declined US$ 0.28 per MT (-0.54%) month over month and increased US$ 1.23 ( ...
Monday, 26 January 15
OVERSUPPLY, AMPLE STOCKPILES, AND LACKLUSTER UNDERLYING STEEL DEMAND KEPT COKING COAL PRICES LOW IN 2014
COALspot.com: Coking coal prices (FOB & CFR) fell 15% and 18% respectively during the year, amidst persistent oversupply, ample inventory and s ...
Monday, 26 January 15
FOB RICHARDS BAY Q2 COAL SWAP CLOSED LOWER THAN Q1 CLOSING
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q1' 2015 declined month over month and day on day.
The Q1 swap has fell ...
Monday, 26 January 15
API 8 CFR SOUTH CHINA COAL SWAP CONTINUE TO SLIDE M-O-M; ROSE W-O-W
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery declined US$ 0.79 (-1.33%) per MT month over month and gained US$ 2.10&nb ...
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- Bangladesh Power Developement Board
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- ICICI Bank Limited - India
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