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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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Wednesday, 01 April 15
SUPRAMAX & HANDY: RATES HELD STEADY TOWARDS THE WEEKEND
“Despite the fact that the Dry Bulk market closed off on the green last week, sentiment didn't improve by any means, not only because of ...
Wednesday, 01 April 15
WEEKLY SHIPPING MARKET UPDATE - INTERMODAL
There is no doubt that we are still witnessing a very challenging and at the same time very uncertain market, both with respect to dry chartering a ...
Wednesday, 01 April 15
Q4' 15 INDONESIA COAL SWAP CLOSED AT $45.15 W/E 27 MARCH 2015
COALspot.com: Indonesian coal swap for delivery Q2' 2015 drops month on month and week over week.
The Q2 swap declined US$ 1.54 (3.24%) mo ...
Tuesday, 31 March 15
RICHARDS BAY COAL SWAPS GAIN WEEK OVER WEEK
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 declined month over month but increased week on week.
The Q2 swap has ...
Monday, 30 March 15
WORST IS OVER FOR THE DRY BULK MARKET, BUT THE PAIN WILL REMAIN FOR YEARS TO COME, SAYS BIMCO CHIEF ANALYST - HELLENIC SHIPPING
The current demise of the dry bulk market isn’t one to go away anytime soon. That doesn’t mean that it can’t improve, with all sh ...
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- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- White Energy Company Limited
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
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