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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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Wednesday, 14 January 15
MARKET INSIGHT - TIMOS PAPADIMITRIOU
In Oil we trust! The Barrel price has declined by almost a third in comparison to the 2014 January and has being on the downhill since early last s ...
Wednesday, 14 January 15
COMMODITIES AREN'T PRIMED FOR A REBOUND DURING 2015: SHIPPING COULD BENEFIT FROM LOWER PRICES - ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In the recent past, higher commodity prices were driven by an increase in demand from developing countries, which spelled good news for ship owners ...
Wednesday, 14 January 15
SUB-BIT FOB INDONESIA COAL SWAP FOR Q1 DELIVERY CLOSED AT US$ 46.97 PMT
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 declined month on month and week over week.
The Q1 swap has fell US$ 1.53 (-3.15 ...
Wednesday, 14 January 15
Q4' 15 FOB NEWCASTLE COAL SWAP CLOSED 4.51% LOWER COMPARED TO Q1' 15 PRICE
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery lost US$ 1.56 per MT (-3.0%) month over month and US$ 1.03 (-2.0%) week ove ...
Tuesday, 13 January 15
MORE PITFALLS FOR OWNERS LOOKING TO TERMINATE FOR UNPAID HIRE - INCE & CO
KNOWLEDGE TO ELEVATE
It is a debatable point whether or not the obligation to pay hire under a time charter is a condition of the contract or ...
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- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- The University of Queensland
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
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