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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, 30 June 09
ARCELORMITTAL, RIO, 8 OTHERS VIE FOR COAL INDIA MINES
Coal India Ltd. short-listed ArcelorMittal, Rio Tinto Group and eight other companies to develop its abandoned mines to help ease a shortage of coal ...
Monday, 29 June 09
INDONESIA PLANS 20 PCT FOREIGN MINING SALE LAW
Indonesia plans to require foreign investors in mining firms to gradually divest shares starting from the fifth year of commercial production, but m ...
Monday, 29 June 09
CHINA ENJOYS STABLE COAL ECONOMY IN THE FIRST FIVE MONTHS OF 2009
In the first five months of the year, China's raw coal production had continued to rise, and coal market stayed in a balance in terms of supply-dem ...
Monday, 29 June 09
GOVERNMENT FINE TUNES MINING LAW
The government is planning to require all foreign-owned mining companies to divest 20 percent of their businesses to local entities after five years ...
Sunday, 28 June 09
INDIA CEMENTS TO INVEST RS 1,500 CR OVER 2 YEARS
Chennai-based India Cements is planning to invest around Rs 1,500 crore over the next two years for setting up a greenfield project in Rajasthan, po ...
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- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Australian Coal Association
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
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