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Tuesday, 15 October 13
CHINA COAL IMPORTS TO KEEP GROWING IN THE YEARS TO COME, ALBEIT AT A SLOWER RATE - EVA TZIMA / NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest monthly report, shipbroker Intermodal highlighted the growing role of coal in the energy mix. According to Intermodal's research analyst, Eva Tzima, "since the beginning of 2013, there has been a lot of debate as for what the future might hold for the trade of coal. The majority of coal production is used to fuel coal-fired power plants in the form also known as thermal coal. Coal, which is today the source that feeds almost 40% of global electricity requirements, has been the fastest growing energy source since the beginning of the 21st century, ac-cording to the International Energy Agency. It’s been mainly on the back of developing economies, like those of China and India that the traded volume of the commodity has witnessed a rapid increase. With China being globally the biggest producer and consumer of thermal coal, the demand for the latter has been inextricably linked with that of economic growth in the world’s second largest econo-my. As the rate of Chinese economic growth has been slowing down, so has the rate of coal consumption, while at the same time, due to its non green nature, the popularity of coal as an energy source has been gathering less and less supporters worldwide", she noted.
Tzima added that "despite the fact that China has been sitting on trillions of tonnes of reserves and therefore local appetite for coal has been historically satisfied onshore, as of the end of 2008 the country’s coal imports have started to increase at a very fast pace. The big beneficiary of this trend was no other than the dry bulkers, as the majority of those imports is realized by seaborne trade. Last year alone the an-nual increase of imported amounts of coal into China touched al-most 60% compared to those of 2011. As we head into the final quarter of 2013 it seems that an even higher figure of imports will be printed, proving that the trend is still strong. A little less than one third of Chinese coal imports is currently being satisfied by Indonesian reserves, while other Pacific region countries like Australia and Vietnam also account for substantial portions".
According to Intermodal's analyst, "the question that naturally comes to mind is why turning to offshore supplies for coal when the commodity is plentiful right there in your court? The answer is simple; Price. The cost of producing and transporting coal domestically has been higher than importing it. But as the country’s imports have continued to rise and its economy has gone into a slower gear, Chinese stockpiles have also increased significantly, fact which in its turn has put significant pressure on local prices. Since January alone, coal prices in China have softened more than 15%. As local prices have been softening a lot of reports have surfaced warning about possible pressure on coal imports going forward. On top of that, the Chinese government, in its effort to pursue more environmental friendly policies, could also weigh down on the future quantity of coal cargoes imported. The energy targets initially set forth by the government, as part of its overall pollution control plan, included both a ceiling on the imported volume and use, as well as a floor on the quality of coal consumed in the coun-try, adding further to the negative sentiment around coal usage altogether", Tzima noted.
"So, will the trade of coal start burning low in the Pacific region? I would think that most probably not. On the one hand the infrastructure modernization needed, should the government keep pushing for lower emissions of CO2, will add on to the cost of Chinese pro-duction. This will be reflected on the price of locally produced coal, restricting the gap between domestic and international prices to narrow down to a point where imports would no longer make economic sense. On top of that, while local coal prices have been softening, the same has happened to coal prices globally and even at a higher degree, so the price incentive for Chinese demand to dis-tant itself from imports doesn’t appear to be there. At the same time what originally started as a very solid plan to cap imported quantities has slowly been revised to a less strict policy, which doesn’t seem as hurtful for imports as it was in its initial form. This revision shows that cheaper energy sources are likely to hold centre stage, as it seems quite possible that the Chinese government would chose to partly sacrifice its “Green” targets for its “Growth” targets. In fact while it has pledged to reduce the country’s coal usage to 65% of its total energy mix, a 2% reduction from what it is today, it hasn’t set a specific amount of coal consumption. This means that under the current plan, the Chinese will still allow for growth in coal consumption should the country’s energy needs continue to rise. But will they do? In my view the fact that the Chinese government has compromised with slower economic growth targets for a longer period of time, in order to ensure the sustainability of that growth, in itself is supportive of firm on-going energy consumption within the country. Following the path of slower but more sustainable growth, energy consumption should be maintained at its current growth levels rather than exhaust itself in the medium term follow-ing strong but short-lived periods of overconsumption.
So despite the fact that King Coal might be facing some opposition, it seems that the Chinese will continue to be supportive of both imports and consumption of the commodity. And unless dramatic action is taken by their government, imports should keep increasing in the next years. This will almost certainly be an increase at a slower rate, but an increase nevertheless, as cheaper options of the commodity will be still made available through seaborne trade in the Asia-Pacific region, allowing for coal to keep burning hotter for a longer period than what some might chose to think...", Tzima concluded
Research Analyst - Eva Tzima
Source: Nikos Roussanoglou, Hellenic Shipping News
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Tuesday, 13 February 24
WHAT IS THE OUTLOOK FOR THE NATURAL GAS SPOT PRICE IN 2024 AND 2025? EIA
We expect the U.S. benchmark Henry Hub natural gas spot price to average higher in 2024 and 2025 than in 2023, but to remain lower than $3.00 per m ...
Monday, 12 February 24
US THERMAL COAL EXPORTS HIT 5-YEAR HIGHS AND TOP $5 BLN IN 2023 - REUTERS
United States exporters of thermal coal earned more than $5 billion in 2023 as they shipped out more than 32.5 million metric tons of the high-poll ...
Tuesday, 06 February 24
NEW E-FUELS PROJECT TO MAKE INTERNATIONAL SHIPPING CLIMATE-NEUTRAL - RINA
Transport and trade on the ocean blue must be made much greener. This is the goal of the new €17 million European GAMMA project, where compani ...
Tuesday, 06 February 24
INDIA SEES ANNUAL COAL OUTPUT UP 10.9% IN 2024/25 - REUTERS
India expects domestic coal output to increase by 10.9% to 1.13 billion metric tons in the fiscal year ending March 2025, a senior government offic ...
Tuesday, 06 February 24
INDIA'S COAL PRODUCTION INCREASES BY 10.3% TO 99.73 MILLION TONNE IN JANUARY - PTI
The country’s coal output rose 10.3 per cent to 99.73 Million Tonne (MT) in January, over the same month in the previous fiscal.
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Showing 36 to 40 news of total 6871 |
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- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- PTC India Limited - India
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Baramulti Group, Indonesia
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