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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, 02 November 14
CAPE INDEX WAS UP 46.65% WEEK ON WEEK
COALspot.com: The BDI and Cape index continued the strong upward trend this week. The BDI was up 19.80 pct and Cape index was up by 46.65 per ...
Friday, 31 October 14
BUKIT ASAM'S NET PROFIT ROSE 27.42% FOR THE PERIOD JANUARY - SEPTEMBER 2014
COALspot.com: Publicly listed coal miner Bukit Asam reported solid profits in the first nine months of 2014 year.
Coal miner Bukit Asam manage ...
Friday, 31 October 14
U.S PRODUCED AROUND 19.3 MMST OF COAL IN A WEEK
COALspot.com – United States the world's one of largest coal producers, produced approximately 19.3 million short tons (mmst) of coal in ...
Thursday, 30 October 14
COAL & GRAINS SUPPORT PANAMAX AND IRON ORE SUPPORTS CAPES
Handy
The Atlantic market has been flat this week. Rates are up about US$ 200 from last week on the TA´s, but the volumes are about the sam ...
Thursday, 30 October 14
DOES A LOU ARBITRATION AGREEMENT FOR THE UNDERLYING CARGO CLAIM COMPLETELY REPLACE THE BILL OF LADING ARBITRATION CLAUSE? - INCE &CO
KNOWLEDGE TO ELEVATE
In the context of cargo claims brought under four bills of lading, the Commercial Court has recently considered whether a ...
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- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- White Energy Company Limited
- Vedanta Resources Plc - India
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Australian Coal Association
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
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