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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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Friday, 13 December 13
DRY BULK SHIPPING TO WITNESS HEALTHY DEMAND MOVING FORWARD - ICS
The Institute of Chartered Shipbrokers Greek Branch organised its 9th Annual Forum at Eugenides Foundation, on Wednesday, 11th of December, with a r ...
Friday, 13 December 13
US PRODUCED APPROXIMATELY 18.4 MILLION SHORT TONS OF COAL W/E 7 DECEMBER 2013
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.4 million short tons (mmst) of coal in ...
Thursday, 12 December 13
GREAT EXPECTATIONS SANCTIONED - EVA TZIMA
News that sanctions on Iranian oil exports could be lifted sometime in the following months have shaken the markets recently. One of the world&rsquo ...
Thursday, 12 December 13
DRY BULK MARKET RATES FOR CAPESIZES TO REMAIN VOLATILE SAYS BIMCO
The dry bulk market has reached multi year highs this week, as the BDI is standing at the 2,300-point mark. In its analysis of the market, BIMCO pre ...
Wednesday, 11 December 13
THE INDONESIAN GOVERNMENT IS CONSIDERING SETTING A REGULATION ON THE MINIMUM PURITY TO REGULATE UNPROCESSED ORE BAN
COALspot.com: Energy and Mineral Resources Minister Jero Wacik recently proposed to house those mining (mineral) companies that had shown a commitme ...
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- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Aditya Birla Group - India
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- CNBM International Corporation - China
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Australian Coal Association
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- The State Trading Corporation of India Ltd
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