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Monday, 20 October 14
CHINA'S ENVIRONMENTAL POLICIES DO NOT SPELL THE END FOR COAL - WOOD MACKENZIE
 China's environmental policies do not spell the end for coal Analysis across energy commodities show coal still accounting for 64% of power mix by 2030, while overall gas demand growth in China will be strongest
As details for China's Air Pollution Prevention and Control Action Plan (APPCAP) have evolved through 2014, energy suppliers have raised concerns that the continual re-thinking of targets and goals is creating uncertainty for China's energy and resources demand. In 'A moving target - assessing the impact of China's environmental policies', Wood Mackenzie concludes that within the energy, resources and mining sectors, China's recent environmental policies broadly continue to encourage the expansion of natural gas. More surprisingly however, despite some industry belief that this will result in coal's decline, Wood Mackenzie says coal demand will actually be supported and remain the dominant fuel in China's power mix.
Wood Mackenzie forecasts that coal's role in power is likely to decline from 72% to 64% of China's power mix as a result of APPCAP but remains the primary fuel for China. In absolute terms, this translates to coal demand increasing by just over two billion tonnes from now until then. Mr David Brown, Northeast Asia Power Markets Manager, explains, "Tackling chronic air pollution is a clear government priority but not the only one: economic growth, energy security and low cost energy remain paramount. Although initial policy goals focused on expanding the role of gas through demand targets or caps on coal consumption, policy releases throughout 2014 have now evolved to focus on emissions control rather than mass fuel switching to gas."
Northeast Asia Mining and Metals Manager, Mr Rohan Kendall says "The latest APPCAP policies are not aimed at penalising coal, but are a major step towards sustainable policies encouraging clean-coal use. The impact of APPCAP policies will affect the type of coal consumed by coastal power plants and emissions control rather than absolute demand volumes. With a reduced emphasis on switching coal-fired plants to gas for example, utilities will become more prudent in plant operations and coal selection - supporting low-ash and low-sulphur imports".
Even with a reduced emphasis on coal switching to gas, Wood Mackenzie's analysis shows China's environmental policies as broadly positive for gas, despite an expectation of some near-term growing pains as new supplies ramp-up. Gas demand in China will increase from around 207 billion cubic metres (bcm) in 2014 to 335 bcm by 2017, with demand from power, transport and the residential/commercial sectors contributing most to the growth near term. Further on from 2020 to 2030, gas demand will see an annualised average growth rate above four-percent, reaching 655 bcm by this time as China becomes with world's second largest gas market after the US.
Beyond power, gas and coal, Wood Mackenzie expects environmental policies will have little impact on demand for petrochemicals, iron ore, steel and metals. Rather, capacity closures will impact these industries more. Capacity that is out-dated, with high emissions and low margins will gradually see shut downs as the government tightens credit, which has been the lifeline of these industries over the last several years. Still, these capacity closures will not have an impact on production with limited impact on raw material demand. The intention is to consolidate fragmented and less efficient operations, not lower output.
Mr Brown concludes, "The way China's environmental policies have evolved already shows that they do not work in isolation but in a more complex fashion, hand-in-hand with conomic goals. The new leadership is focused on formulating integrated policies that balance these objectives. This approach indicates China's evolving environmental policies are not intended to be destructive for energy, mining, and metals but will rather help these industries grow sustainably and efficiently through the long term."
About Wood Mackenzie
Wood Mackenzie is a global leader in commercial intelligence for the energy, metals and mining industries. We provide objective analysis and advice on assets, companies and markets, giving clients the insights they need to make better strategic decisions.
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Monday, 17 November 14
SKULD ISSUES URGENT NOTICE ON BANKRUPTCY OF OW BUNKER A/S
Further to the Association’s advices of 7 November 2014, more information has come to light with respect to the potential impact and scale of ...
Monday, 17 November 14
INDONESIAN COAL PRICE REFERENCE CONTINUES FREE FALL; SLUMPS TO 69-MONTH LOW
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price once again in November. HBA for t ...
Monday, 17 November 14
API 5 FOB NEWCASTLE COAL SWAP FOR Q1' 15 DELIVERY CLOSED AT $ 52.75
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery has decreased US$ 1.77 (-3.25%) month over month and US$ 0.02 (-0.04%) day ...
Monday, 17 November 14
SOUTH CHINA COAL SWAP SLIGHTLY INCREASED WEEK OVER WEEK
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased US$ 1.73 (-2.67%) month over month and US$ 0.10 (-0.16%) da ...
Sunday, 16 November 14
THE BDI LOST 12.59% WEEK ON WEEK; THE BCI LOST 19.95%
COALspot.com: The BDI fell 12.59 percent to 1256 point week on week on Friday 14 November. All the segments were also most down this week. The cape ...
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- Deloitte Consulting - India
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
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