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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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Friday, 01 November 13
DRY BULK MARKET IN FIRST POSITIVE SIGN IN DAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Owners of dry bulk carriers are well aware of the rollercoaster ride that has been the market for their vessels over the past few years. This trend ...
Thursday, 31 October 13
HANDY: ACTIVE; PANAMAX: QUIET; CAPESIZE: NO LIGHT
Handy
The handy market had an active week however not directly translated into the rates we´ve seen in the Pacific. We see more coal and baux ...
Wednesday, 30 October 13
INDONESIAN STATE OWNED COAL MINER HAS EXPORTED 7.02 MILLION TONS OF COAL IN 9 MONTHS
COALspot.com : PT. Bukit Asam, Indonesian state owned coal miner has sold 13.24 million tons of coal for the period January - September 2013. Accord ...
Wednesday, 30 October 13
DRY BULK MARKET HAS LOST FURTHER GROUND THIS PAST WEEK - INTERMODAL
Chartering (Wet: Firm+ / Dry: Stable-)
The Dry Bulk market has lost further ground this past week, as de-creased activity in both basins for both C ...
Wednesday, 30 October 13
CAPESIZE: DOWNWARD; SUPRAS AND HANDIES: STABLE - INTERMODAL
The Dry Bulk market has resumed its downward movement, noting another dip for a third week in a row. The larger size segments were responsible for p ...
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Showing 4036 to 4040 news of total 6871 |
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- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
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