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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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Monday, 11 May 15
API 5 FOB NEWCASTLE COAL SWAP; INCREASED M-O-M; DECLINED W-O-W
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery gained US$ 0.62 per MT (1.41%) month over month and lost US$ 0.88 week on w ...
Monday, 11 May 15
CFR SOUTH CHINA COAL SWAP: DECLINED MOM AND WOW
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery declined US$ 0.46 (-0.90%) per MT month over month and US$ 0.28 (0. ...
Monday, 11 May 15
KOREA MIDLAND POWER INVITES BIDS FOR 140K MT OF 4600 NAR COAL
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued a new tender to buy total 140,000 Metric Tons (MT) of Sub-bitumi ...
Sunday, 10 May 15
FREIGHT RATES TO REMAIN SOFT NEXT WEEK
COALspot.com: The freight market was flat to soft week over week except for the Cape Index which was up 7.32%. Cape index was closed at 616 p ...
Friday, 08 May 15
BUSIEST CAPESIZE DEMOLITION MARKET EVER - BIMCO
The activity on the demolition market is off to a good start in 2015 when looking at dry bulk tonnage.
The dry bulk market has long suffered f ...
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- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- The University of Queensland
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Petron Corporation, Philippines
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- White Energy Company Limited
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Economic Council, Georgia
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
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