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Monday, 14 October 13
CARBON POLICIES UNLIKELY TO PREVENT A COAL-FUELLED WORLD - WOOD MACKENZIE
 China will propel coal growth but US, Europe and Asia will sustain global demand.
At the World Energy Congress (WEC) today Wood Mackenzie's President of Global Markets, Mr William Durbin, said that global government policies to reduce carbon emissions will not prevent a hydrocarbon world as coal will surpass oil as the dominant fuel later this decade. China and India's aggressive power requirements will be responsible for coal's burgeoning role in energy but US, Europe and Asia will still contribute to coal demand. As such, Wood Mackenzie expects existing carbon policies to have a muted impact. Instead, the pace of coal demand will be influenced more by local governments of emerging markets needing to balance economic growth, energy demand and environmental needs.
Mr Durbin says, "China's economic growth will continue to be driven by urbanisation and industrialisation as the government seeks to improve housing as well as create economic opportunities. At the same time, the pursuit of increased national wealth is needed to support a shift to growth based on consumption. Coal will be used to fuel the growth because, unlike alternatives, it is plentiful and affordable. Consequently, China's demand for coal will almost single-handedly propel the growth of coal as the dominant global fuel."
"Even with environmental concerns and global pressures, China and India just do not have the same latitude that more developed economies have to focus on carbon emissions at the risk of reducing economic development from higher cost alternative fuels and technologies. China could have cleaner air and use more coal to fuel its growth if current emission control technologies were deployed and used more effectively"
Global demand for oil in the year 2000 was 3,500 million tonnes of oil equivalent (Mtoe) compared to coal at 2,300Mtoe. By 2010, coal demand grew to almost 3,600Mtoe, just behind oil demand of 4,000Mtoe. Looking forward to 2020, Wood Mackenzie expects global coal consumption to reach 4,500Mtoe, overtaking oil which reaches 4,400Mtoe. This is a 25% growth in coal consumption from 2010-2020 with two-thirds of this growth being driven by Chinese coal-fired power generation.
China's power requirements will increase from 5,000 Terawatts per hour (TWh) in 2012 to 8,600TWh in 2020. Coal fired power generation accounts for 46% of that growth. Mr Durbin explains China's preference towards coal, "Firstly, there is limited availability of natural gas supplies due to the rapid pace of domestic demand growth and little progress in developing unconventional gas. Secondly, LNG and pipeline imports are two to three times more costly than domestic and imported coal. And thirdly, renewables cannot provide base load power. This leaves coal as the primary energy source."
Outside of China and India, global coal demand will be sustained. Mr Durbin says," If you take China and India out of the equation, what is more surprising is that under current regulations, coal demand in the rest of the world will remain at current levels. Even though natural gas and renewables make up the bulk of incremental power capacity in Europe, the US and other parts of Asia; coal demand will be sustained because of its price competitiveness."
In Europe, the struggling economy and low coal prices has rendered the European Union (EU) Emissions Trading Scheme (ETS) ineffective. The carbon price will need to reach €40/t to encourage fuel switching, which is unlikely before 2020. In North America, despite plentiful quantities of low cost natural gas, relatively inexpensive coal remains competitive in many locations. Southeast Asia has traditionally relied on low cost domestic gas for power needs but as gas supplies struggle to keep pace with demand, coal will become the dominant fuel into power by 2020. Lastly, throughout Northeast Asia, high fuel import costs, security of supply and nuclear issues will support growth in coal generation going forward.
Mr Durbin concludes, "We are unlikely to escape a future dominated by fossil fuels any time soon. And while carbon policies have their role in the more developed economies like Europe and the US, developing economies must first implement and enforce environmental regulations that limit other detrimental gases like sulphur dioxide, nitrogen dioxide , mercury and particulate matter before adopting carbon policies that rely on higher cost fuels or technologies. Hence, local issues in developing countries will do more to influence government policy as they will motivate a need for balancing economic development while managing localised environmental impacts in the foreseeable future."
Editor’s notes:
Wood Mackenzie is the most comprehensive source of knowledge about the world’s energy and metals industries. We analyse and advise on every stage along the value chain - from discovery to delivery, and beyond - to provide clients with the commercial insight that makes them stronger. For more information visit: www.woodmac.com
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Friday, 19 July 13
U.S.COAL PRODUCTION TOTALED APPROXIMATELY 19.60 MMST WEEK ENDED JULY 13
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 19.60 million short tons (mmst) of ...
Friday, 19 July 13
TNPL IS LOOKING FOR 300 K MT OF 6000 GAD COAL FOR FIVE MONTH
COALspot.com - Tamil Nadu Newsprint & Papers Ltd. , an Indian paper maker, is seeking 300,000 metric tons ± 5% (In 5 shipments about 60,0 ...
Thursday, 18 July 13
3RD ANNUAL FLOATING TERMINALS, INDONESIA
Commercial applications for offshore transshipment facilities
Floating Terminal solutions are increasingly being deployed by miners, independent ...
Thursday, 18 July 13
THE CAPE MARKET APPEARS TO BE HOLDING FIRM - FEARNLEYS AS
Handy
In the Pacific, market maintained similar levels during the week. There is several Indo coal orders in the market, ships passing Singapore fi ...
Thursday, 18 July 13
DRY BULK MARKETS RETAINS RECENT GAINS, MOVES SIDEWAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept on moving sideways this week, as evidenced by the latest trends of the industry's benchmark, the Baltic Dry Index (BDI ...
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- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Parliament of New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- VISA Power Limited - India
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
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