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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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Monday, 20 January 14
SUB-BIT INDONESIA COAL SWAP SEEN LOWER IN 2ND HALF OF 2014
COALspot.com – Sub-Bit Indonesia coal swap (FOB) for average Q1’ 14 delivery lost $ 0.78 pmt month on month on Friday 17 January 2014. T ...
Monday, 20 January 14
THE CFR SOUTH CHINA COAL MARKET APPEARS TO HAVE LOST DIRECTION
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery lost 4.25 percept month on month and closed at US$ 79.48 per mt as ...
Sunday, 19 January 14
FREIGHT MARKETS SEE CONTINUED WEAK PERFORMANCE
COALspot.com: The market has continued to soften particularly in the far East/SE Asia sector.
The BDI was down 6 pct week on week, the index was ...
Friday, 17 January 14
US COAL PRODUCTION DOWN WEEK ON WEEK: EIA
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.3 million short tons (mmst) of co ...
Friday, 17 January 14
DRY BULK MARKET ENDS DECLINE, BOUNCES BACK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It's been a rough start to the New Year for the dry bulk market, which was supposed to be on the verge of rallying to new heights this year, on the ...
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- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- Australian Coal Association
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
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