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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.
Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Friday, 27 March 15
INDONESIA: NEW REGULATION REQUIRES LETTER OF CREDIT FOR EXPORT OF PRODUCTS FROM NATURAL RESOURCES
The Minister of Trade issued Ministerial Regulation No. 04/M-DAG/PER/1/2015 (“Regulation No. 4/2015”) on 5 January 2015. Regulati ...
Friday, 27 March 15
WEEKLY U.S COAL OUTPUT FALLS 1.7% W-W; 7.9% Y-Y
COALspot.com – United States the world's one of the largest coal producers, produced approximately totaled an estimated 18.2 million ...
Thursday, 26 March 15
CHINA IRON ORE IMPORT FOR THE FIRST 2 MONTHS DECLINED BY 1.2 % Y-O-Y; PANAMAX AUSSIE/CHINA ROUNDS BEING FIXED IN THE $4 -5K RANGE - FEARNLEYS
Handy
There has been more activity in both hemispheres this week. Especially the USG market has picked up with more cargoes for prompter dates en ...
Thursday, 26 March 15
RATES FOR THE SMALLER SIZE SEGMENT CONTINUED TO IMPROVE LAST WEEK - INTERMODAL
To see green across the board is a rare occurrence in the Dry Bulk market nowadays and while the upside in which last week closed off is not of the ...
Thursday, 26 March 15
KYUSHU ELECTRIC POWER OF JAPAN HAS JOINED GLOBALCOAL ONLINE COAL TRADING PLATFORM
globalCOAL® announced today that Kyushu Electric Power, one of Japan’s largest utility companies, has joined its online coal trading plat ...
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- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Parliament of New Zealand
- London Commodity Brokers - England
- Economic Council, Georgia
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- VISA Power Limited - India
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- White Energy Company Limited
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Australian Coal Association
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Bhatia International Limited - India
- Deloitte Consulting - India
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
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