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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, 25 March 15
MARKET INSIGHT: TANKER CHARTERING - KATERINA RESTIS
The 1st of January 2015, as broadly reported, denoted the beginning date of new and progressive emission regulations for vessels operating within t ...
Wednesday, 25 March 15
AUSTRALIA SET TO ONCE AGAIN BE THE WORLD'S LARGEST COAL EXPORTER - COAL, MINERALS COUNCIL OF AUSTRALIA
Greg Evans, Executive Director - Coal, Minerals Council of Australia
Media Release: The latest Resources and Energy Quarterly published by the ...
Wednesday, 25 March 15
AUSTRALIA UPSTREAM ENERGY FIRMS FACE RISING OIL PRICE EXPOSURE - FITCH
Fitch Ratings says the Australian oil and gas companies involved in exploration and production face higher exposure to oil price-linked revenues, w ...
Wednesday, 25 March 15
2014 : UK COAL IMPORTS DECLINED 17%; GERMANY COAL IMPORTS UP 6%
Hard Coal Market 2014: Despite The Energy Turnaround, Hard Coal Imports To Germany Rise By More Than 6%, Although Hard Coal-Fired Power Generation ...
Tuesday, 24 March 15
A WEAK WEEK FOR FOB INDONESIA COAL SWAP
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 drop month on month and week over week.
The Q2 swap fell US$ 2.48 (5.12%) month ...
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- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- Australian Coal Association
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- McConnell Dowell - Australia
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
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