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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.
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Friday, 08 May 15
COAL PRODUCTION IN U.S. UP 3.2% THIS PAST WEEK - EIA
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 17.4 million short ...
Wednesday, 06 May 15
COMBINATION OF HOLIDAYS AND A SHAKY MARKET PUT ADDITIONAL PRESSURE ON RATES
COALspot.com: The combination of holidays and a shaky market is always a recipe for additional pressure on rates and last week was no exception. Wi ...
Wednesday, 06 May 15
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
The first four months of 2015 are now behind us and they make up for a decent amount of time to look back and assess how the year is evolving so fa ...
Tuesday, 05 May 15
MIFA BERSAUDARA UNIT OF ABM INVESTAMA STARTS OPERATING $200M COAL MINE IN ACEH
Reswara Minergi Hartama, a coal mining unit of coal miner ABM Investama known as known as Reswara, inaugurated a $200 million integrated coal minin ...
Tuesday, 05 May 15
FREIGHT DERIVATIVE VOLUMES REACHED TOTALED 14,154 CONTRACTS IN APRIL - SGX
COALspot.com: “Our unique suite of freight and bulk commodity products provides market participants with a wide range of trading strategies a ...
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- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Planning Commission, India
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- White Energy Company Limited
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- PTC India Limited - India
- The University of Queensland
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Parliament of New Zealand
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
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