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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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Tuesday, 24 March 15
RICHARDS BAY COAL SWAP FOR DELIVERY Q2 CLOSED $ 1.87 HIGHER COMPARED TO Q3 CLOSING PRICE
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 declined month over month and week on week.
The Q2 swap has dropped U ...
Tuesday, 24 March 15
ARGUS MEDITERRANEAN SOLID FUELS 2015 CONFERENCE | 2-3 JUNE, ISTANBUL
Press Release: Argus Media is proud to announce Argus Mediterranean Solid Fuels, which will be held in Istanbul,on 2-3February.
Argus produces ...
Monday, 23 March 15
IS OIL GETTING READY TO PLUNGE BELOW $40? - FORBES
KNOWLEDGE TO ELEVATE
In my last crude oil market update in late-February, I expressed my skepticism toward the oil price rebound. Since then, ...
Monday, 23 March 15
Q4' 2015 FOB NEWCASTLE COAL SWAPS DECLINED 6.79% M-O-M; 2.55% W-O-W
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 3.42 per MT (-6.33%) month over month and US$ 1.37 (-2.77%) we ...
Monday, 23 March 15
CFR SOUTH CHINA COAL SWAP: Q3 DELIVERY HAS FALLEN 7.93% MONTH-ON-MONTH
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 4.09 (-7.06%) per MT month over month and US$ 2.00 (-3 ...
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- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- Medco Energi Mining Internasional
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