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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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Sunday, 26 January 14
FREIGHT RATES FALL FURTHER ON LACK OF CARGOES - SOLYM CARRIERS
COALspot.com: The freight market has continued to soften further this week with BDI down by 12.31 pct. BDI was closed at 1,246 points week ended 24 ...
Friday, 24 January 14
US COAL PRODUCTION UP 3.9% ON WEEK IN WEEK ENDED SATURDAY - EIA
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.1 million short tons (mmst) of coal in ...
Friday, 24 January 14
DRY BULK MARKET STRUGGLING TO FIND FIRM FOOTING IN START OF 2014 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been faltering since the start of 2014, struggling to hold its ground as low seasonal demand has hindered further growth in ...
Thursday, 23 January 14
PANAMAX : THIS WEEK THE ACTIVITY CAME DOWN DRAMATICALLY - FEARNRESEARCH
Handy
With the Chinese New Year approaching the activity and rate levels are sliding in both hemispheres. Rates in the Atlantic have knocked off so ...
Thursday, 23 January 14
30 DAYS LEFT TO REGISTER FOR PACIFIC BASIN COAL CONFERENCE
COALspot.com: (Press Release) : IHS Inc. (NYSE: IHS), the leading global source of information and analysis, will host the Pacific Basin Coal Confer ...
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- Planning Commission, India
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Minerals Council of Australia
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
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