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Tuesday, 28 January 14
GLOBAL COKING AND STEAM COAL PRODUCTION HAVE GROWN 2% TO 3% TO ABOUT 7.1 BILLION TONNES AS OF THE END OF 2013 - VDKI
 COALspot.com (Press Release): Initial figures on the world hard coal market at the VDKi ((Association of Coal Importers - German) New Year’s Reception 2014 – VDKi regards hard coal as the guarantee, internationally and domestically, for secure and competitive power generation and as partner for the energy turnaround in Germany
During the New Year’s Reception in Hamburg attended by more than 170 guests, the Verein der Kohlenimporteure e.V. (VDKi) presented the initial figures on the world hard coal market and on the German import hard coal market for the whole of 2013 and stated its positions on current issues of energy policy.
Global growth in the production of hard coal (coking coal and steam coal) has slowed down in its pace and will have grown only slightly by 2% to 3% (at best) to about 7.1 billion tonnes as of the end of 2013. China in particular throttled the production of hard coal, while the levels of production of coking coal in Australia and of production of steam coal in Indonesia and Russia were substantially increased.
Seaborne world trade in coal in total exceeded the level of the previous year by 4% to 5% (260 million to 270 million tonnes) despite the slowdown in the steel industry in some areas. Provisional estimates indicate a rise of 3% to 850 million tonnes in the volume of steam coal. This increase is attributed above all to China, which increased its imports from Australia and Indonesia in 2013 because of the low world market prices.
The long winter period in Europe at the beginning of 2013 (and the simultaneous relatively low feed-in of solar and wind power) as well as the clean dark spread (difference between power price and costs for coal, freight and CO2 certificates), which has long been positive for coal-fired power generation in comparison with the negative clean spark spread (difference between power price and costs for gas, transport and CO2 certificates), favoured hard coal-fired power generation in Europe, according to the VDKi. Electricity is frequently exported to countries strongly dependent on gas such as the United Kingdom or the Netherlands. As a consequence, the German Federal Association of the Energy and Water Industry (BDEW) estimates the gross power generation in Germany in 2013 at 629 TWh despite declining power consumption so that it remained at the same level as 2012, i.e. 61.4% from conventional fuels coal, gas and oil (previous year 61.2%). In contrast, the BDEW notes that power exports increased by 6.8% to 71.8 TWh.
Nevertheless, the VDKi CEO, Dr Wolfgang Cieslik, does not see any reason for optimism here, “because,” says Cieslik, “even if it is said that the clean dark spread currently favours hard coal-fired power generation, this does not in any sense mean that coal-fired power plants are earning enough to cover their costs, much less operate profitably. In the interests of our members, we would be delighted if this were the case, but reality is completely different. The costs for a hard coal-fired power plant run about €50/MWh, depending on its degree of efficiency and the costs for purchasing coal. In contrast, the wholesale power prices and futures on the EEX in calendar year 2014 are moving in a range of between €35 and €45/MWh for base load and between €40 and €50/MWh forpeak load. This is obviously not a viable business model which can ensure the steady supply of power and heat in Germany.”
According to figures from the VDKi, the imports of hard coal developed in a positive direction because of the declining output of German hard coal mining and the cold spring in 2013. The increase in hard coal consumption of 60.7 million TCE (4.1%) determined by the Arbeitsgemeinschaft Energiebilanzen was covered by
-50.3 million TCE from imports, corresponding to growth of 12.5%, and
-7.7 million TCE from domestic production, corresponding to a decline of 31.3%
- and otherwise by inventories.
In general, the world market prices remained on a downward curve in 2013. Prices for steam coal reached their lowest point for the moment in the middle of the year, posting a price a little over US$73 per tonne CIF ARA. A slight recovery in prices has been noted since September. As of the end of November 2013, a tonne of hard coal CIF ARA cost about US$84, a figure which was still 6% below the comparable figure of the previous year (US$89.53). A stronger euro in comparison with the US dollar led to further price advantages in the euro zone.
Coking coal posted prices in excess of US$250 per tonne at times in 2012, but as the economy and demand have weakened, prices have fallen more or less continuously since the second half of 2012 and are now hovering around the point of US$150 per tonne (contract price HCC for Q4 2013).
Freight rates (with the exception of a very few limited-term contracts) moved in a range of US$7–US$12/tonne for the benchmark route Richards Bay–Rotterdam during 2013. It was not until September that freight rates were seen to stabilise, and they have settled around US$15 per tonne for the route Richards Bay – ARA since the end of last year. The market appears to have found the bottom here.
Referring to current energy policy, CEO Dr Cieslik states: “The true scope of the problems resulting from the energy turnaround which must be solved, the risks for our supply security, the dangers from price increases for the economy and jobs and the burdens which conventional power plants must bear because of the low wholesale power prices are still not being taken serious enough by politicians, who are too reluctant to implement the needed solutions. We urgently need fast and structured action on the part of the political establishment.”
The coalition agreement contains positive aspects such as the planned legal implementation of a corridor for the further expansion of renewable energies, which will provide a certain security for conventional power plants when planning for the future. “At least we now have it in writing from the German government that 45% to 50% of the electricity in Germany will still be generated by conventional coal- and gas-fired power plants even in 2035,” according to Cieslik.
“The VDKi believes it is absolutely essential that the subject of market design, capacity markets and capacity bonuses be placed at the top of the German government’s agenda immediately after the reform of the EEG [German Renewable Energies Act]. In view of the fact that power plants are operating in the red even today, it would be irresponsible to wait any longer. We can expect additional applications for the shut-down of plants to be submitted to the German Federal Network Agency in the coming months, and this could ultimately represent a serious threat to the security of our power supply. The problem cannot be taken care of in the long term on the basis of the German Reserve Power Plant Regulation,” stated the CEO. Moreover, the expansion of the grid system in Germany must be accelerated so that the demand all over Germany can be covered at all times with energy from renewable and reliable conventional energy sources according to market results.
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Tuesday, 28 January 14
DRY BULK SHIP OWNERS RETREAT TO OLD 'HABITS', REFUSING TO DEMOLISH OLD VESSELS, THREATENING MARKET RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
If one thing is clear as we reflect on the 2013 shipping markets, it's that ship owners took advantage of low prices, in order to acquire newer ton ...
Monday, 27 January 14
MERCATOR SINGAPORE REPORTS 52% INCREASE IN EBITDA FOR Q3 FY 2014 AS COMPARED TO PREVIOUS QUARTER
COALspot.com: Mercator Lines (Singapore) Limited, a leading Indian-owned international dry bulk shipping company that operates a fleet of fourteen d ...
Monday, 27 January 14
13TH CLEAN COAL FORUM 2014
COALspot.com: (Press Release) - Produced by CDMC Events, The 13th Clean Coal Forum 2014 will be held on June 12 &13 2014 in Beijing, China. We a ...
Monday, 27 January 14
Q3 & Q4 API 8 CFR SOUTH CHINA COAL SWAPS CONTINUE TO REMAIN WEAK
COALspot.com: API 8 CFR South China Coal swaps for average Q1 14 delivery lost 4.45 percent month on month and closed at US$ 79.05 per mt as on Frid ...
Monday, 27 January 14
Q3 2014 SUB-BIT INDONESIA COAL SWAP LOST GROUND, ENDS AT $60 PMT
COALspot.com – Sub-Bit Indonesia coal swap (FOB) for average Q1’ 14 delivery lost 2.29% pmt month on month on Friday 24 January 2014. Th ...
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- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
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- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Parliament of New Zealand
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- GMR Energy Limited - India
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Australian Coal Association
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
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