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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, 24 April 15
CHINA IRON ORE MINE CLOSURES TO SLOW ON GOVERNMENT SUPPORT - FITCH
Fitch Ratings expects fewer Chinese iron ore mine closures in 2015 as the government takes steps to support the industry, which has been struggling ...
Friday, 24 April 15
IS INDIA THE 'NEW CHINA' WHEN IT COMES TO THE DRY BULK MARKET? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been feeling the “heat” of China’s slowdown and together with the industry’s own failings, with ove ...
Friday, 24 April 15
GLOBAL STEEL PRODUCTION OUTSIDE OF CHINA CONTINUES TO FARE VERY POORLY - JEFFREY LANDSBERG
COALspot.com: Data released this week showed that global crude steel production totaled approximately 138.05 million tons in March.
Wha ...
Friday, 24 April 15
WEEKLY U.S. COAL PRODUCTION ESTIMATE FALLS 5.7% FROM LAST WEEK
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 17.0 million short ...
Wednesday, 22 April 15
PANAMAX : ATLANTIC HOLDING ON TO THE GAINS OF THE PREVIOUS WEEK; PACIFIC BUSINESS SLID QUIETLY
COALspot.com: The Dry Bulk market managed to close off the week on a positive note last Friday, while as opposed to what we have been used to, it w ...
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- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
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