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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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Thursday, 30 April 15
IRON ORE EXPORTS: A DANGEROUS RACE? - CLARKSONS
The surge in iron ore exports in recent years has resulted in a significant decrease in iron ore spot prices, which dipped to a ten year low of bel ...
Thursday, 30 April 15
IRON ORE PLAYS EXPECTED TO SHAPE UP MAY DRY BULK SCHEDULE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Market plays in the iron ore commodities’ markets, are expected to carve out the future demand for the shipping industry as well, said Allied ...
Wednesday, 29 April 15
MARKET INSIGHT - INTERMODAL
The figures of China’s slowing down imports of coking coal for the first quarter of the year are coming to confirm what everybody was expecti ...
Wednesday, 29 April 15
SHIPBUILDERS START OFFERING DISCOUNTS FOR DRY BULK NEWBUILDINGS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
It took a while, but now it appears that some shipbuilders are beginning to adjust their price lists to the new grim reality of the dry bulk market ...
Tuesday, 28 April 15
FOB INDONESIA COAL SWAP DECLINED M-O-M; INCREASED W-O-W
COALspot.com: Indonesian coal swap for delivery Q2 2015 gained week over week but declined month on month.
The Q2 swap was declined US$ 0.15 ( ...
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- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- The University of Queensland
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Australian Coal Association
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- Planning Commission, India
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
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