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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, 08 October 14
IS THERE ANY BRIGHT SIDE ON THE DRY BULK SEGMENT? - YANNIS OLZIERSKY
In the movie “Life Of Brian”, a character on a nearby cross was singing the famous “Always look on the bright side of life” ...
Tuesday, 07 October 14
TAIPOWER TO IMPORT 525K MT OF LOW ASH AND EXTRA LOW SULFUR SUB-BITUMINOUS COAL
COALspot.com: Taiwan Power Company intends to procure 525,000 metric tons of low ash and extra low sulfur sub-bituminous coal for Taipower thermal ...
Tuesday, 07 October 14
SUB-BIT FOB INDONESIA COAL SWAP SHOWS A FLAT TO WEAK TREND THIS PAST WEEK
COALspot.com: Indonesian coal swaps November 2014 delivery flat week on week and gained US$ 0.10 (-0.20%) per mt day on day. The swap also lost US$ ...
Tuesday, 07 October 14
THE RIO TINTO CONFIRMS THAT NO DISCUSSIONS ARE TAKING PLACE WITH GLENCORE
COALspot.com: The board of Rio Tinto notes the recent press speculation regarding a possible combination of Rio Tinto and Glencore.The Rio Tinto bo ...
Tuesday, 07 October 14
API 8 CFR SOUTH CHINA COAL SWAP HEADED SOUTH
COALspot.com: API 8 CFR South China Coal swap for delivery in November 2014 decreased US$ 1.10 (-1.64%) month over month and US$ 0.25 (-0.38%) ...
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- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- The University of Queensland
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
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