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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, 05 January 14
API 8 CFR SOUTH CHINA COAL SWAP FOR Q3 DELIVERY CLOSED $ 80.05, A $ 0.90 LOWER THAN Q1 PRICE
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery lost 1.40 percept day on day closed at US$ 80.95 per mt as o ...
Sunday, 05 January 14
CENTRAL BUREAU OF INVESTIGATION OF INDIA REGISTERS CASES IN CONNECTION WITH ALLEGED SUPPLY OF LOW QUALITY INDONESIAN COAL BY A PRIVATE COMPANY TO NTPC & NSPCL
COALspot.com: The Central Bureau of Investigation of India has registered two cases regarding alleged supply of low quality imported Indonesian coal ...
Saturday, 04 January 14
THE INDONESIAN GOVERNMENT TO DOWNSIZE ITS COAL PRODUCTION TARGET TO 400 MMT THIS YEAR
COALspot.com: Indonesia to downsize its coal production target to 400 million tons in 2014, lower than the production in 2013, which stood at 421 mi ...
Friday, 03 January 14
IN 2013 RBCT HAS, FOR THE FIRST TIME, EXPORTED MORE THAN 70 MILLION TONS OF COAL
COALspot.com: South Africa's Richards Bay coal terminal, the world’s largest single coal exporting terminal shipped 6.788 million tonnes of c ...
Wednesday, 01 January 14
COAL & OIL TO SET UP ANOTHER 1,600 MW POWER PLANT IN INDIA - VENKATARAMANI
COALspot.com: Dubai-based Coal & Oil (C&O) Group is planning to make additional investment of around US$ 1.61 billion to set up 1,600 mega w ...
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- MS Steel International - UAE
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
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