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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, 20 January 15
INDONESIAN COAL OUTPUT SEEN RISING, DESPITE FALL IN ITS PRICE
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 declined month on month and week over week, but Indonesian Coal Output Seen Rising. T ...
Tuesday, 20 January 15
NEWCASTLE COAL SWAP FOR Q1' 2015 DELIVERY DECLINED 2.83% M-O-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery declined US$ 1.45 per MT (-2.83%) month over month and US$ 0.50 (-0.99%) we ...
Monday, 19 January 15
HBA FALL TO FRESH LOWS; COAL OVERSUPPLY WILL CONTINUE TO PUSH PRICE DOWN
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down Indonesian coal bench mark price this month to US$ 63.84. T ...
Monday, 19 January 15
CFR SOUTH CHINA COAL SWAPS REMAIN WEAK
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery declined US$ 3.37 (-5.63%) per MT month over month and US$ 0.74 (-1.29%) ...
Monday, 19 January 15
FOB RICHARDS BAY COAL SWAP FOR Q4 DELIVERY CLOSED 4% LOWER THAN Q1 DELIVERY PRICE
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q1' 2015 declined month over month and week over week.
The Q1 swap has f ...
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- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- White Energy Company Limited
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
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