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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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Thursday, 03 October 13
INDONESIA AUGUST COAL EXPORTS FALL 12.90 % FROM JULY TO 30.71 MIL MT
COALspot.com: Indonesia, the 15th largest economy in world, 4th largest coal producer in world and world's largest multi grade coal exporter ...
Thursday, 03 October 13
TOP FOUR U.S. COAL COMPANIES SUPPLIED MORE THAN HALF OF U.S. COAL PRODUCTION IN 2011 - EIA
In the past two years, more than half of U.S. coal production was attributable to the top four coal producers, the result of changes in regional pro ...
Thursday, 03 October 13
HANDY: PERIOD MARKET STAND IN GOOD POSITION - FEARNRESEARCH
Handy
Nickel ore and Bauxite was active last week but slowed down now due to Chinese holidays. Ships opened in North China fixed at US$ 11-13k leve ...
Wednesday, 02 October 13
DRY BULK MARKET IS STILL MAINTAINING ITS UPWARD DIRECTION
Chartering (Wet: Stable- / Dry: Firm+)
Despite the fact that rates for Capes didn't continue their crazy ride this past week, the Dry Bulk market ...
Wednesday, 02 October 13
HOW LONG WILL THIS LATEST CAPESIZE RALLY LAST? - TASOS PAPADOPOULOS
By Tasos Papadopoulos, SnP Broker, Intermodal
The surge in iron ore trade has translated into a massive boost in daily earnings for capes; with t ...
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Showing 4086 to 4090 news of total 6871 |
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- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Parliament of New Zealand
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- White Energy Company Limited
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
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