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Wednesday, 08 July 09
GERMAN COAL PRODUCTION DECREASED BY 31% TO ROUND 3.4 MILLION TON IN 1Q 2009 - COAL IMPORTERS ASSOCIATION, HAMBURG
 COALspot.com (Germany):
World Coal Market
According to analysis of VEREIN DER KOHLENIMPORTEURE E.V. , On a quantity basis the steam coal market is further stable, whereas the Asian market is supported by imports from China and India.
In view of the background of weaker industrial activity, the demand for steam coal in the Atlantic area is modest. The fob prices are slightly sinking connected with intensive swings upward and downward. The coking coal market has seen a sharp fall. The contract prices for the period 2009/2010 have declined by 60 % compared to the contract prices 2008 / 2009 and are partially crumbling.
Despite of lesser bulk commodity volume and further rising fleet capacity, the freight rates have considerably increased very recently. Considering the basis data, this upswing is not explainable. The tendency should rather be a lower freight level.
Hard Coal
Imports regarding the imports of hard coal, coking coal and briquettes for the months January to March 2009, the Federal Statistic Office of Germany determined a decrease of the whole imports by 14.6 % to 10,934,068 ton compared to the previous year.
"Energy Prices in 1Q 2009 the BAFA price in average was 91.24 Euro / TCE" German Coal Importers Association
Germany Domestic Coal – 1Q 2009
Due to the closures of the mines Saar, Walsum & Lippe , the German production decreased by 31 % to round 3.4 million t in 1Q 2009 in comparison with the previous year. Extrapolated there might be reached a whole production of 13-14 million ton in 2009.
In 1Q 2009 the coke production decreased by round 20 %. Due to the steel crisis, the coking plant Prosper operates curbed at 70 % and beyond that coke is dumped. The performance per man and shift in the mines declined by 25 %.
This is partly in consequence of the closures of the high efficient mines Ensdorf and Walsum. The sales of German coal fell from 5.8 million ton by 2.5 million t to 3.3 million ton. The biggest part of the decline in sales is due to the slowdown in German industrial production. The stocks rose by 0.6 million ton to 4.3 million ton. Until May 2009 the stocks increased to round 5 million ton.
The difficult sales situation continues. The steel boom and the expected shortages caused the coking coal prices in 2008 to rise to historic record heights. At this time, deductions of 60% are being negotiated, but it remains to be seen whether this price level, which is still high, will be able to stay here in view of the weak demand.Coke prices fell as well. For all practical purposes, the world market for coke collapsed in the first quarter of 2009. Instead of the normal 3 million ton, the world market leader China exported a mere 150,000 ton in the first quarter 2009.
" Nevertheless, the official export prices amount to round US$ 400.00. But in Europe comparable coke is traded at US$ 190.00 " German Coal Importers Association
Freight Rates
Freight rates reached historic record highs in 2008. The freight rate Richards Bay – Rotterdam for Cape size ships rose to US$ 50/ton, only to crash to US$ 5 / ton (–90%) by December 2008.
In the meantime, freight rates have recovered slightly and are again on the rise. However, the overall expectation is that the sinking volume of bulk cargo on the world market and rising fleet capacity will prevent any excessive fluctuations for the moment.
Germany
Germany’s coal market shrank by about 5 million t in 2008. But since domestic output fell by almost 4 million t, imports remained stable. There were virtually no effects on quantities from the steel crisis in 2008.
We expect a substantial decline in imports of 22% for 2009, a consequence of the steel crisis and a lower demand for electric power. While in the past the onus of adapting to collapses in demand fell on German coal production, there will this year, for the first time, be a major blow on import coal, but the great flexibility of the world market means that there will not be any problems adjusting to this situation.
Import prices for steam coal are also falling quickly. Prices fell to €83 t/TCE in March 2009 from the highest value of the border-crossing price (BAFA price) of €136 t/TCE in August 2008. We expect the price to continue to decline to €65-70 t/TCE by the end of 2009.
"As the US dollar is once again showing a weakening tendency, imports in Euros could become cheaper" German Coal Importers Association
Outlook 2009
World coal production in 2009 will continue to increase as a consequence of the great demand for electric power in the Asian region. But this growth will be weaker than in the past. China, India and Indonesia are planning significant increases in output.
World trade in steam coal will presumably remain stable, but the coking coal world market will probably decline by 40–50 million ton or 20% – 25%. The pendulum has swung back to a buyer’s market and will undoubtedly keep pressure on the world market prices for coking coal and steam coal in 2009.
The years 2007 and 2008 were marked by high investment spending in the coal mining industry worldwide. After an estimation of IEA for 2009 a reduction by round 40 % is expected.
Short-term – i.e. in the following 2 – 3 years, the reduced investment activity might not impact the markets. It has also to be concerned, that coal projects in 2 – 5 years and in this way in comparison to crude oil and gas projects – can go into production in the short run.
Analyzed by: KOHLENIMPORTEURE E.V. (Coal Importers Association), Hamburg
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Tuesday, 07 July 09
ECONOMIC SURVEY 2008-09 OPEN UP COAL TO FUEL POWER PLANTS
TOI reported that the coal ministry's efforts at opening doors for full private entry through open bidding in coal mining got a boost, with the Eco ...
Tuesday, 07 July 09
POWER - STATION COAL MAY RISE ON CHINA DEMAND, SUPPLIES, UBS SAYS
Power-station coal prices in Asia may increase in 2010 because of higher demand from China, the second-largest energy-consuming nation, and supply c ...
Saturday, 04 July 09
FREIGHT FUTURE FOR 3 YEARS UNTIL 2012 WAS FAIRLY SOFT AROUND PANAMAX / US$ 16,000, SUPRAMAX / US$ 13,000 PER DAY
COALspot.com (Singapore): According to Vistaar shipping, an experinced ship operator in Singapore, the freight market was soft with bit nervousness ...
Saturday, 04 July 09
CHINA BUYS 17% OF MINER TECK RESOURCES FOR $1.5 BILLION
* To sell 17.2 percent stake to China Investment Corp
* To raise proceeds of C$1.74 bln
* Shares rise 3.2 percent (Adds details. In U.S. dol ...
Saturday, 04 July 09
MINING CONTRACT SOUGHT FOR COAL AREA IN MASBATE
Because of its coal deposits, a town in Masbate is one of the sites in the country being sought out for exploration and development by mining compan ...
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- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Central Java Power - Indonesia
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
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