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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, 25 January 15
PANAMAX FREIGHT RATES STILL FALLING
COALspot.com: The BDI was slightly down this week to 720 points. The BDI lost 2.83 pct week on week.
The cape index continued its upward trend ...
Friday, 23 January 15
U.S. WEEKLY COAL PRODUCTION FOR WEEK ENDING JAN. 17 UP 2.5%
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.4 million short tons (mmst) of coal ...
Thursday, 22 January 15
PANAMAX: A SOFTER TONE AND OVERALL A SLUGGISH MARKET - FEARNLEYS
Handy
The handy and supra market has experienced yet another week with slow activity and softening rates in both hemispheres, broker Fearnleys AS ...
Thursday, 22 January 15
BUMI RESOURCES POSTS NET INCOME OF $13.3 MILLION 9M-2014
COALspot.com: Bumi Resources, Indonesia’s largest coal miner, reported today that, the company has recorded a net income of $13.3 million for ...
Wednesday, 21 January 15
PANAMAX MARKET MOVED SIDEWAYS OVERALL LAST WEEK - INTERMODAL
COALspot.com: The positive sentiment in which the week prior ended carried on through-out last week as well, the end of which marked the first posi ...
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- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- VISA Power Limited - India
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- GMR Energy Limited - India
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Australian Coal Association
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- The Treasury - Australian Government
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
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