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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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Sunday, 09 November 14
CAPE INDEX UP 3.06%; PANAMAX INDEX FELL 4.05%
COALspot.com: The BDI was almost at same levels compared to last week closing or just increased 0.77 pct from last week. The BDI was closed at 1437 ...
Friday, 07 November 14
U.S. PRODUCED 85.60 MILLION SHORT TONS OF COAL IN OCTOBER, UP 2.88% M-O-M
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.0 million short tons (mmst) of coal ...
Thursday, 06 November 14
THE ATLANTIC HAS REMAINED STRONG WITH A HEALTHY SUPPLY OF NEW CARGOES
Handy
This week has continued its slow trend in both hemispheres and even though rates are a bit up w-o-w it is not a clear sign for any improvem ...
Wednesday, 05 November 14
CAPESIZE SEGMENT ENJOYED FIRMING RATES ACROSS BOTH BASINS
Following a fantastic week in terms of rate performance for Capes, the Dry Bulk market managed to note another positive weekly closing, which stron ...
Wednesday, 05 November 14
SHIPPING MARKET INSIGHT - PANOS TSILINGIRIS
COALspot.com: The steep appreciation in dry bulker values between late 2012 and March 2014 resulted in unrealistically expensive ship values compar ...
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- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
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