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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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Wednesday, 15 October 14
NEWCASTLE SHIPPED 13.96 MILLION TONS OF COAL IN SEPTEMBER; UP 5.72%
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1,227.7 wor ...
Tuesday, 14 October 14
KING COAL UNDER ATTACK? - EVA TZIMA
With the last quarter of the year being well underway and with no strong signs that the Dry Bulk market could be ready for a big positive reversal, ...
Tuesday, 14 October 14
THE NEW CHINESE TRANSPORTATION TAX LAW: WHAT DOES IT MEAN FOR GREEK SHIPPING? - DELOITTE
China has recently promulgated a new law which imposes tax on profits from freights of inbound routes. The objective of the new tax law titled &ldq ...
Monday, 13 October 14
CHINESE COAL IMPORT TARIFFS YET ANOTHER BLOW TO AUSTRALIAN COAL EXPORTS - TIM BUCKLEY
COALspot.com: China’s unexpected move to reintroduce thermal coal import tariffs of 6% will have a materially negative impact on the viabilit ...
Monday, 13 October 14
NEWCASTLE COAL SWAP FOR Q1' 2015 DELIVERY CLOSED AT US$ 54.92, SGX DATA SHOWS
COALspot.com: API 5 FOB Newcastle Coal swap for delivery Q4' 2014 decreased US$ 0.80 (-1.46%) month over month and US$ 0.52 (-0.95%) week over ...
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- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- VISA Power Limited - India
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- The University of Queensland
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
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