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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, 16 April 15
SHIPPING DEMAND TO SUFFER AS CHINESE SLOWDOWN CONFIRMED SAYS BIMCO'S CHIEF SHIPPING ANALYST - BIMCO
The Chinese economy grew by 7.0% y-o-y in the first quarter of 2015, according to National Bureau of Statistics in China. This is the weakest overa ...
Thursday, 16 April 15
INDIA: COAL IMPORTS RISE BY 33 PC TO 240 MT IN FY'15 - PTI
India’s coal imports in the just concluded FY 2015 increased by 33 per cent to about 240 million tonnes.
“Coal import have gone up ...
Thursday, 16 April 15
CAPESIZE: THE SUPPLY AND DEMAND SIDE ARE NOW SUFFERING HEAVILY - FEARNLEYS
Handy
It seems to be some standoff between owners and charterers in both hemispheres this week. Owners are raising their rates while charterers a ...
Thursday, 16 April 15
Q3 FOB RICHARDS BAY COAL SWAP CLOSED AT $ 55.67 PMT
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q2' 2015 declined month over month.
The Q2 swap has declined US$ 1.90 (3.17%) m ...
Wednesday, 15 April 15
PORT OF NEWCASTLE SHIPPED 13.63 MMT OF COAL IN MARCH; UP 4.41% M-O-M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.227 billi ...
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- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Planning Commission, India
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- PTC India Limited - India
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
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