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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, 23 June 09
NAPOCOR TO RE-TENDER FOR 195,000 T COAL IN JULY
Electricity producer National Power Corp. (Napocor) will hold a tender on July 15 to buy 195,000 tons of steam coal for its Sual power station, the ...
Monday, 22 June 09
ONE DIES IN KUTAI COAL TUNNEL COLLAPSE
The Jakarta Post reported that, A tunnel at a coal mine belonging to company PT Fajar Bumi Sakti in Kutai Kartanegara, East Kalimantan collapsed on ...
Monday, 22 June 09
THIS WEEK IS EXPECTED TO BE FIRM AND DEMAND OF SHIPS WOULD BE STRONG - VISTAAR SINGAPORE
COALspot.com (Singapore): The BDI up by 487 points over last week which is an increase of almost 13 pct. The increase is again mainly due to Ca ...
Monday, 22 June 09
CHINESE MAY COAL IMPORTS HIT RECORD 9.43 MILLION TONNES
Reuters quoted Custom Data showed that China's coal imports hit an all-time record of 9.43 million tonnes in May.
The figure surpasses the previ ...
Monday, 22 June 09
SOUTH AFRICAN EXPORT COAL DECLINES ON WEAKENING EUROPEAN DEMAND
Prices for coal shipped from South Africa’s Richards Bay, site of the world’s largest export terminal for the fuel, posted the first dro ...
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- Madhucon Powers Ltd - India
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- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
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- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
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- Bukit Makmur.PT - Indonesia
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- Parliament of New Zealand
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- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- Planning Commission, India
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
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- GVK Power & Infra Limited - India
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- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
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- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
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- Chettinad Cement Corporation Ltd - India
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- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Economic Council, Georgia
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- McConnell Dowell - Australia
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- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- India Bulls Power Limited - India
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- Indian Oil Corporation Limited
- MS Steel International - UAE
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Indogreen Group - Indonesia
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