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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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Monday, 16 March 15
API 5 FOB NEWCASTLE COAL SWAPS: DECLINED
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 2.48 per MT (-4.77%) month over month and US$ 0.93 (-1.84%) we ...
Monday, 16 March 15
CFR SOUTH CHINA THERMAL COAL SWAP DECLINED 3.74% M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 2.17 (-3.74%) per MT month over month and US$ 0.67 (-1 ...
Sunday, 15 March 15
BDI DECLINED LESSER THAN 1% WEEK OVER WEEK; INDO-INDIA FIRM
COALspot.com: The most of indices, including bulk dry index were falling this week. The BDI has been down by just 0.53 points and closing at 562 po ...
Saturday, 14 March 15
CAPESIZE DRY BULKERS TO AVERAGE BETWEEN $3,000 AND $9,000/DAY IN THE COMING WEEKS SAYS BIMCO
BIMCO issued its latest short-term estimates for the dry bulk market. For March/May: BIMCO assesses that the Capesize time charter (T/C) average ra ...
Friday, 13 March 15
U.S. COAL PRODUCTION UP 2.3% WEEK OVER WEEK
COALspot.com – United States the world's one of the largest coal producers, produced approximately 17.5 million short tons (mmst) of coal ...
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- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Australian Coal Association
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
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