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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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Tuesday, 28 April 15
Q2' 15 FOB RICHARDS BAY COAL SWAP CLOSED 4.18% HIGHER FROM MONTH AGO
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q2' 2015 increased month over month and slightly week over week.
The Q2 swap ha ...
Monday, 27 April 15
U.S. COAL PRODUCTION FELL BELOW ONE BILLION SHORT TONS IN 2013 - EIA
COALspot.com: For the first time in two decades, U.S. coal production fell below one billion short tons to 984.8 million short tons in 2013 from 1, ...
Monday, 27 April 15
Q3' 2015 FOB NEWCASTLE COAL SWAP CLOSED 3.69% LOWER THAN Q2' 2015 PRICE OF $46.36
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery gained US$ 0.19 per MT (0.41%) month over month and US$ 0.78 week on week. ...
Monday, 27 April 15
CFR SOUTH CHINA COAL SWAP SLOWLY IMPROVED THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 0.74 (-1.41%) per MT month over month and increased US$ 0.43 ...
Sunday, 26 April 15
DRY BULK MARKET KEPT IMPROVING THIS WEEK; CAPES AND PANAMAXES SHOW A SLIGHT PICKUP IN RATES
COALspot.com: The freight market was stable this week as BDI closed at 600 points after improving 0.50 percent week over week.
The cape ...
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- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Australian Coal Association
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Parliament of New Zealand
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- White Energy Company Limited
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
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