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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, 18 January 15
INDONESIA TO INDIA SUPRAMAX FREIGHT RATES ARE EXPECTED TO REMAIN WEAK NEXT WEEK
COALspot.com: The BDI was up 4.51 pct week on week on Friday 16, January 2015. The BDI closed at 741 points on this Friday after gaining arou ...
Friday, 16 January 15
U.S. WEEKLY COAL PRODUCTION UP 7.3% W-O-W
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.9 million short tons (mmst) of coal ...
Thursday, 15 January 15
PANAMAX : MARKET CONTINUE ON LOW PACE - FEARNLEYS
Handy
On a general basis we can say that rates are softening in both hemispheres. Although for some specific trades we can see premiums being ach ...
Thursday, 15 January 15
LOW CASH COSTS, GOOD LIQUIDITY HELP ASIAN OIL COMPANIES IN PRICE ROUT - FITCH
Fitch Ratings says that rated oil and gas production companies in Asia can comfortably operate under low oil prices for some time given their gener ...
Wednesday, 14 January 15
DRY BULK MARKET NOTED ANOTHER WEEKLY DECLINE - INTERMODAL
COALspot.com: The Dry bulk market noted another weekly decline on Friday, with the performance of the Capesize market still weighing down on the re ...
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- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- MS Steel International - UAE
- The University of Queensland
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- Planning Commission, India
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- White Energy Company Limited
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
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