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Friday, 11 July 14
EUROPE HAS A SUBSTANTIAL SURPLUS IN COAL SUPPLIES; RENEWABLE ENERGIES ARE REDUCING THE FULL-LOAD OPERATING HOURS OF HARD COAL-FIRED POWER PLANTS - VDKI
 COALspot.com: General conditions for coal-fired power plants must be improved if the energy turnaround is to be a success, said German coal importer association (vdki). Hard coal consumption and hard coal imports develop in different directions in Q1 2014, the association further said in its latest press release.
World hard coal consumption Q1 2014
The Pacific region is providing the stimulus for growth dynamics in 2014 as in the past, although it is now more moderate. All in all, worldwide economic growth of 3.6% compared to 2013 is expected this year. China’s exports are also accelerating noticeably again. However, the VDKi has determined stagnation or only a slight rise in the demand for electric power as well as a tendency toward decline in iron and steel production in the Pacific region. In the estimation of the VDKi, this is why seaborne trade during the first four months of 2014 rose by no more than about 3% in comparison with the comparable period of the previous year. Worldwide, however, production and demand in Q1 2014 will most likely remain at the same level as last year.
Europe and Germany
The situation is similar in Europe. Europe has a substantial surplus in coal supplies: renewable energies are reducing the full-load operating hours of hard coal-fired power plants in other countries as well as in Germany.
According to German coal importer association, In Italy, power generation from wind farms rose rapidly from 9 TWh in 2010 to more than 14 TWh in 2013. Power generation from photovoltaics* rose from 1.9 TWh in 2010 to more than 11 times this amount (22 TWh) in 2013. In Spain, water, wind and photovoltaics* comprise 55% of the total power generating capacity. The mild winter did not give any cause for increased demand for hard coal, either. However, the clean dark spread favoring coal-fired power generation was reduced because of declining gas prices and slightly rising CO2 prices. The VDKi expects the tendency for consumption of hard coal in all of Europe in 2014 to be downward, which will mean a correspondingly lower level of imports, if the weather conditions favoring renewable energies continue.
In Germany, domestic energy consumption – despite the strong economy in Q1 – is almost 10% lower than in the comparable period of the previous year, said German coal importer association.
VDKi further said, In principle the low prices for coal have a positive impact on the merit order. Nevertheless, power generation using hard coal declined sharply during the first four months in Germany. Power generation from photovoltaics* and wind, on the other hand, was very high in Germany during the first four months as a consequence of favoring weather conditions and further new constructions; in comparison with the comparable period of the previous year, PV produced +54%, wind onshore +16% and wind offshore +23% more electricity.
These increases came at the expense of e.g. power generation from hard coal. The mild winter did nothing to increase demand, either. Moreover, hard coal-fired power plants are price setting on the EEX during most hours, and as the wholesale prices for electric power continue to fall as a general trend, hard coal-fired power plants are in many cases not able to cover the costs of their fuel. Nevertheless provisional calculations of the VDKi indicate that hard coal imports rose by about 3% in comparison with the same period last year. However, we will have to wait and see if this trend will be confirmed for the entire year.
According to VDKi, the following changes regarding the countries of origin occurred during Q1. 23% of all hard coal came from Russia (31% last year – down 25.80% Y-O-Y), followed by the USA at 23%. Colombia, the second-most important coal supplier for Germany in 2012, fell to third place and provided only 14%. The significance of South Africa for German hard coal imports improved again to 9%.
Origin of the hard coal imports Q1 2014
- CIS - 23%
- USA - 23%
- Colombia - 15%
- Australia - 9%
- Other - 9%
- South Africa - 9%
- Poland - 8%
Source: VDKi 2014
The continued growth in the feed-in of power from renewable energy sources, especially from photovoltaics*, in Germany could have a further dampening effect on the demand for coal, especially in the summer months, said German coal importer association in its latest press Release. The results from the first three months of 2014 for Germany give the VDKi little reason for exaggerated optimism:
-- Power generation from hard coal-fired power plants in Germany fell by an estimated 6 TWh (17%) to just under 30 TWh;
-- According to information from the AGEB, hard coal consumption for power generation declined by almost 1.8 million TCE (11%) to 14.7 million TCE; primary energy consumption overall declined by 9.5% to 121 million TCE;
-- Provisional calculations of the VDKi show that total imports of hard coal and coke increased by about 0.4 million tonnes to a little less than 14 million tonnes;
-- Gross electricity export rose by another 7% (1.5 TWh) in comparison with the high level of the comparable period last year to 22.5 TWh. After deduction of the imports, there was another increase in the export surplus of 13.2 TWh of power (previous year 12.1 TWh).
In his remarks on energy policies, the CEO paid special attention to the current discussions about the reform of the EEG and the future role of hard coal-fired power plants for the energy turnaround.
For the first time ever, over one-fourth of the total gross power consumption was provided by renewable energies.
There was a substantial increase of 3,305 MW from the construction of photovoltaic* systems in 2013. As of the end of last year, almost 43% of the total installed capacity in renewable energies was in photovoltaic* systems, although their contribution to renewable power generation amounted to only 20%; moreover, in terms of secure base load capacity it makes them from all types of power generation to the one with the lowest availability, said German coal importer association. Furthermore the increased input from renewable energies has led to a further decline in wholesale electricity prices and distorted competition, while simultaneously causing the number of full-load operating hours for hard coal-fired power plants to decline.
The key question as to how the costs of the increase in renewable energies can be minimized and how the future power market design can be defined so that new build and maintenance of capacities of conventional power plants necessary for the success of this project of the century, the energy turnaround, can be assured has not been answered. The reform of the EEG which has now been adopted is the first right step in this direction, but it stops half-way and still contains implementation phases which are much too long.
The VDKi is hoping for intervention from the EU Commission, which has still not declared its agreement with the current form of the EEG reform. “We can only hope that the EU issues related to the current EEG which are still open will lead to genuine substantial improvements and make the framework conditions for hard coal-fired power plants more favorable,” declared Cieslik to the approximately 90 participants who had travelled to the meeting.
“The VDKi is calling for a regulatory framework which will ensure economic operation of hard coal-fired power plants also in the long term because such a framework is urgently required to secure power supply, cost efficient prices of electric power and to ensure successful realization of the energy turnaround” said Cieslik.
* Photovoltaics (PV) is a method of generating electrical power by converting solar radiation into direct current electricity using semiconductors that exhibit the photovoltaic effect.(Source: Wikipedia)
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Wednesday, 09 July 14
SHIPPING MARKET INSIGHT - PANOS TSILINGIRIS
The mini-boom in dry bulker values catapulted ship prices too fast too far over the last one-and-a-half year. The concurrence of historically low p ...
Tuesday, 08 July 14
INDONESIAN COAL PRICE REFERENCE FALL AGAIN IN JULY; LOST 1.62%
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia again revised down the coal bench mark price in July. HBA for month of J ...
Tuesday, 08 July 14
ENERGY IN THE MIX - INTERMODAL SHIPBROKERS
With the Tanker freight market having showed much promise this year compared to the performance that had been noted during the previous five, it is ...
Monday, 07 July 14
INDONESIA STATE-CONTROLLED COAL MINER BUKIT ASAM TO TRADE COAL ON-LINE THROUGH JFX
COALspot.com: Indonesian state owned coal miner PT Tambang Batubara Bukit Asam Tbk (PTBA) has teamed up with Jakarta Futures Exchange (JFX) to sell ...
Monday, 07 July 14
RBCT, THE WORLD'S SINGLE LARGEST EXPORT COAL TERMINAL SHIPPED 31.91 MMT OF COAL IN H1 2014
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the world’s single largest export coal terminal, shipped 31.91 million ton ...
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- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- Deloitte Consulting - India
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Romanian Commodities Exchange
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
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