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Tuesday, 21 July 09
FIRST QUARTER COAL MARKET AND EURACOAL'S OUTLOOK FOR THE FUTURE
 Euracoal reports that for the first time in many years, the world market for hard coal fell by some 8 % during the first quarter 2009. This latest Euracoal (http://www.euracoal.org/) report arrived too late for International Mining’s August article on the global coal industry, which is about to be published. Steam coal was 140.1 Mt, down from 140.7 Mt in the first quarter of 2008. The fall in coking coal waxs much more severe, down from 42.6 Mt to 29.9 Mt in 2009. The combined total showed a fall of 13.3 Mt between 2008 and 2009.
Nevertheless, markets behaved differently: whilst the Atlantic steam coal market decreased exports, the Pacific market increased slightly. The Pacific market increased by only 2.2 Mt with Australia being the only exporter increasing sales (+ 6.7 Mt). China (- 2.6 Mt) and Indonesia (- 2.0 Mt) bore the main decreases. On the Atlantic steam coal market, only South Africa (+ 1.3 Mt) and Russia (+ 0.4 Mt) increased exports. The total Atlantic market shrunk by 2.8 Mt.
The coking coal market suffered in the economic crisis and dropped by 30 % during the first quarter 2009. China became a net importer for coking coal. Australia exported 8.1 Mt less than during the first quarter 2008 and the US and Canada also recorded an export decrease. The total coking coal market is expected to decrease by some 40 to 50 Mt for the entire year 2009.
Steam coal prices fob South Africa are currently around $60/t, even though the demand on the Atlantic market stays weak.
Contract prices for coking coal which also reached historic peaks during the 2008 summer are now coming back to normal and the negotiated prices for 2009/2010 are expected to be low. Hard coking coal is currently contracted at $120-125/t, semi-soft coking coal at $80-90/t and low-volatile PCI coal at $75-80/t.
A special situation was observed in China, who became for the first time a net importer. The reason was that for the steel and electricity industries, located near the harbours, it was cheaper to import coal because international coking coal prices are currently lower than Chinese coking coal prices. The Chinese coke market totally collapsed; in April 2009 there were only some 20.000 t of coke exported. After the very high coke prices in summer 2008 the prices collapsed in winter 2008 but are currently again picking up slowly. In March 2009 the coke price fob China was $420/t.
Due to the collapse of the steel industry, Polish coke demand dropped by some 30 %. The demand from Germany and France as well was considerably lower or even cancelled for 2009. The industry nevertheless expects improvements of demand in the second half/end of 2010. Coke production should then even increase again in the following years.
The longer term future of German hard coal depends now, as in the past, on political decisions. According to a legal guideline, the German Bundestag will check before 2012 if the decision to close down in the year 2018 is to be reviewed again or not; this will be determined mainly by the outcome of the Bundestag elections in September 2009. While the Social Democrats and the trade unions together with some of the Christian Democrats are in favour of maintaining a minimum level of indigenous coal production, large numbers of Christian Democrats, Liberals and also Greens in Germany see little reason to go back on the decision to close down.
The UK Government made its long awaited policy announcement on new coal power plant build: any new coal stations must have at least one unit fitted with CCS and the remaining units must be ‘carbon capture ready’. The Government will provide financial support for up to four such CCS projects. A consultation on the financial support mechanism was published in June 2009.
British output is now increasing for the first time in many years. There was an increase for the year 2008 compared with 2007 which came from surface mines. The ongoing increase during the first quarter of 2009 includes an increase from deep mines also. There continues to be an encouraging trend in surface mine planning permissions. The potential re-opening of Harworth Colliery would cost some £200 million, but sourcing finance for this in the current climate is proving difficult.
The situation in the Czech hard coal industry is strongly influenced by lower demand for coal suitable for coking and a drop in its price by one third. This year OKD-OKK a.s. (Ostravskokarvinské koksovny, a coking coal company) expects a decrease in its annual coke production to 710,000 t against the planned 850,000 t. The other negative factors include decreasing electricity consumption, lower electricity prices on the energy exchange, and an increase in the price of steam coal (+ 17 %). These three factors prompted the operator of the 800 MW hard coal-fired Dìtmarovice power station, ÈEZ, to consider a shutdown of this power station for four months. Following an agreement between ÈEZ and OKD, the duration of the shutdown was reduced to one month. OKD’s supplies to the power station are 800,000 t annually. This has made it possible for OKD to maintain extraction and hundreds of jobs in northern Moravia. In 1Q 2009 OKD produced 3.1 Mt of hard coal. Compared with 1Q 2008, production dropped by 12 %.
German lignite production during Q1 2009, at 44.8 Mt, was generally 3.4% higher than the previous year. In Lausitz (+ 11.8%) and in Central Germany (+ 4.6%), lignite production was higher; on the contrary, in the Rhineland (-1.6%) and in Helmstedt (-1.3 %) production dropped. The changes are essentially due to the development of deliveries to power plants (+ 3.2 %), where some 92% of all production goes. Power generation by lignite-fired power plants was generally a good 3% higher than during the same period last year. For refined products, briquetting (+47.3%) showed a clear increase during the first quarter of 2009. The production of lignite dust (-11.2 %) and lignite coke (-8.7%) was dropping. Pulverised lignite production (-1.8%) was just under last year’s level.
In the chain of the impacts of the economic crisis, brown coal is not in the forefront in the Czech Republic but it will be affected at some later stage. This year’s fall of electricity prices can be expected to be reflected in energy companies’ results for 2010 and 2011. The price of coal is expected to drop by a few percent in 2010. In 1Q 2009 brown coal and lignite production amounted to 12.6 Mt. Brown coal companies contributed to this output as follows: SD, 6 Mt (+2.8%), CCG, 3.8 Mt (-2.9%) and SU, 2.6 Mt (-16.9%). The Centrum deep brown coal mine and Hodonín deep coal mine (lignite) produced 150,000 t. Compared with 1Q 2008, brown coal and lignite production declined by around 4%. Customers’ demand has helped to change the Czech Coal Group’s original decision to discontinue extraction from the last deep brown coal mine in the country. Extraction from the Centrum mine was to be ended last year, with employment contracts terminated for 300 employees. An agreement on extension of supplies until 2012 with the petrochemical company Unipetrol has ensured continued mining. Centrum produces about 280,000 t of coal every year.
In Poland, Adamow lignite mine, which wishes to open a new lignite mine south of Zgierz, has approached the Ministry of Environment to ask for a concession to explore the deposits. Once they have obtained the concession, they will have priority for lignite production within the area. Konin lignite mine intends to issue bonds for PLN135 million. The money will be invested in opening of the Tomis³awice open pit.
In Hungary, the expectations are that lignite output in the ongoing second trading period will continue to remain approximately at today’s level of 9 - 10 Mt/y. Regarding the subsequent period, it remains to be seen what the final emissions trading regulations will look like and, in particular, how CO2 prices will develop.
In order to reach a further improvement of productivity in Matra’s opencast mines, the assembly of a new compact excavator was started at the end of 2008. This machine is a prototype of the world’s biggest compact excavator. Its assembly is largely completed, and it will start operation in the Bükkabrany opencast mine in mid-2009.
The Slovenian power plant Sostanj (TES) is preparing to build a new so-called block 6 with 600 MW capacity and around 42% efficiency. It will replace old units. The Velenje coal mine will start a project for vertical skip winding of coal this year.
Serbia completed and launched the new overburden ECS (Excavator-Conveyor-Spreader) system in the Kostolac lignite basin in order to increase annual production from 6.5 to 9 Mt of lignite in the first stage and finally to 12 Mt of lignite.
Source: In-Mining
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Monday, 27 July 09
ADANI POWER'S $625 MILLION IPO TO GENERATE HOT DEMAND
WSJ reported that, Adani Power, the electricity generating unit of India's Adani Enterprises Ltd., is set raise up to US$625 million in wha ...
Monday, 27 July 09
MIDDLE EAST COAL TO MOVE ON $1B EAST KALIMANTAN PROJECT
The Jakarta globe reported that, Middle East Coal reiterated on Monday that it would push ahead its $1 billion development program for East Kutai Re ...
Monday, 27 July 09
SHORT AND ONE YEAR PERIOD RATES FOR SUPRAMAX WAS FIRM AT AROUND US$ 18, 000 -18,500 PER DAY
COALspot.com (Singapore): The Supramax charter rates up sharply last week (ended 24th July 2009), especially India / Far East region said, Capt ...
Monday, 27 July 09
COKING COAL, IRON-ORE LIKELY TO BENEFIT NON-INTEGRATED STEEL PRODUCERS
Economictimes reported that, The second half of the financial year 2008-09 was one of the toughest periods for steel companies, especially the non-i ...
Monday, 27 July 09
GMR ENERGY BUYS EMCO POWERGEN SUBSIDIARY
DNA India reported that, Thane-based transformer manufacturer Emco Ltd has sold its stake in unlisted power generation subsidiary Emco Energy to Ban ...
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- Star Paper Mills Limited - India
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Planning Commission, India
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
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