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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, 14 April 15
COAL OUTPUT FALLS AS PRICES CONTINUE TO LAG - JP
Coal output dropped by 21 percent in the first three months of the year as low prices for the commodity forced mining companies to reduce activitie ...
Tuesday, 14 April 15
SUB-BIT FOB INDONESIA COAL SWAPS FOR Q4 DELIVERY CRASHES THROUGH $44
COALspot.com: Indonesian coal swap for delivery Q2 2015 declined month on month and week over week.
The Q2 swap was declined US$ 2.25 (4.77%) ...
Monday, 13 April 15
Q2 FOB NEWCASTLE COAL SWAP CLOSED AT $45.28 PMT; DECLINED 7.50% M-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 3.67 per MT (-7.50%) month over month and US$ 0.39 week on wee ...
Monday, 13 April 15
Q4 CFR SOUTH CHINA COAL SWAP CLOSED AT US$ 50.97
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 4.50 (-8.05%) per MT month over month and US$ 0.12 (-0 ...
Sunday, 12 April 15
INDONESIA TO INDIA FREIGHT RATE IS EXPECTED TO BE SOFT
COALspot.com: The freight market was steady, however the BDI was declined slightly week over week.
BDI dropped 1.36 pct and closed at 580 poin ...
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- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- Parliament of New Zealand
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- PTC India Limited - India
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- White Energy Company Limited
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- The University of Queensland
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
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