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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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Monday, 20 April 15
Q4' 2015 API 8 CFR SOUTH CHINA COAL SWAP CLOSED US$ 50.28 PMT
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 4.03 (-7.28%) per MT month over month and US$ 0.05 (-0 ...
Sunday, 19 April 15
THE OCEAN FREIGHT MARKET SHOWED STEADY THIS WEEK
COALspot.com: The freight market was fairly steady this week. The BDI was up 2.93% to 597 points week over week. The cape index was also increased ...
Friday, 17 April 15
IHS ENERGY EUROPEAN COAL OUTLOOK CONFERENCE
Attend the IHS Energy European Coal Outlook Conference 19-20 May in Nice, France and learn about timely concerns in today’s coal industry.
...
Friday, 17 April 15
COAL PRODUCTION IN THE U.S. UP THIS PAST WEEK - EIA
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 18.0 million short ...
Thursday, 16 April 15
NEW COMMODITY SUPERHIGHWAY WILL EMERGE IN CHINA, ALTERING ENERGY TRADE FLOWS - WOOD MACKENZIE
Wood Mackenzie says that China’s Go West strategy – encouraging coastal to inland flow of capital and people - will result in the forma ...
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- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- The University of Queensland
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Australian Coal Association
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