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Friday, 20 March 15
HARD COAL MARKET 2014: DESPITE THE ENERGY TURNAROUND, HARD COAL IMPORTS TO GERMANY RISE BY MORE THAN 6% (PART 1)
 Hard Coal Market 2014: Despite The Energy Turnaround, Hard Coal Imports To Germany Rise By More Than 6%, Although Hard Coal-Fired Power Generation Declines (Part 1)
The German Coal Importer Association (VDKi) has prepared the initial consolidated estimates for the global, European and German hard coal market for all of 2014. Although the growth of production globally stagnated with around 7.2bn tonnes, the seaborne trade growth increased by 5% compared to 2013. Hard coal imports to Germany reached an all-time high at 56m tonnes.
World output
The VDKi estimates that global hard coal production last year (7.2bn tonnes) remained at the level of 2013. The most important factors:
- Slowing economic growth and weakened growth in the demand for electric power in Asia, especially in China;
- Newly introduced regulations implemented in China, prompted by environmental protection concerns, prohibiting the burning of low-calorific coal with high ash and sulphur content, especially in densely populated urban areas;
- Accelerating replacement of coal in the USA with low-priced shale gas for power generation and environmental protection regulations for power plants, which caused early closures;
- Reduction of overcapacities in the form of mine shutdowns, temporarily shut down of mines or cutbacks in production in hard coal mining owing to low world market prices and the cancellation or slower development of new coal projects, e.g. in Australia or the USA;
- Regulatory interventions in coal mining, e.g. in Indonesia.
However, there were differences in the way the industry developed in the various countries.
- For the first time since 1998, China produced less coal, a decline of 2.5%. With a total output of 3.87bn tonnes about 90m to 100m tonnes less hard coal was extracted. Moreover, hard coal imports to China fell by 36m tonnes (11%) to 292m tonnes. Coal quality requirements concerning ash and sulphur content in coal used for power generation as well as calorific values were introduced to reduce air pollution in 2014. Inner Mongolia alone, China’s second-largest coal region, therefore reduced output compared to 2013 by 86m tonnes (almost 12%) to 908m tonnes in 2014, while the two other coal regions (Shanxi and Shaanxi) increased production by 1.5% and 3.6% to 977m tonnes and 511m tonnes, respectively.
- India will probably not reach its hard coal production target. The largest state mining company, Coal India Ltd. (CIL), reported that output in the 11 months from April 2013 to February 2014 (the fiscal year in India starts on 1st of April and ends 31st of March the following year) of 437m tonnes was about 3% below the target of 450m tonnes for this period.
- In the USA, output in many mines was throttled, especially in 2013, while other mines were shut down completely. The greater use of coal in place of gas for power generation resulted solely from the cold weather conditions in January and February 2014 and the explosion in gas prices which resulted. The U.S. Energy Information Administration (EIA) estimates that coal production in 2014 rose again slightly by 17,2m tonnes to 904 m tonnes in comparison with 2013, and coal consumption for power generation fell only slightly by 6,4m tonnes (0.8%) over the previous year.
- In Australia, only a few mines were closed while new projects were postponed; however, cost cutbacks and, in some cases, production increases using the same level of personnel and equipment were initiated everywhere. Estimates by the Australian Ministry of Industry (Resources and Energy Quarterly, December 2014) indicate that there was an increase in coking coal production of 4.7% to 189m tonnes and in steam coal production of 2.1% to 250m tonnes.
- In Indonesia, production of hard, including low-calorific (sub-bituminous) coal, declined in 2014 for the first time in many years by 3.5% to about 407m tonnes. The most important reasons for this decline are the increase in royalties for certain mining companies, the low price level (which prompted some mining companies to reduce output) and the introduction of an export licence system in October 2014. Many companies exporting hard coal were unable to obtain the licence early enough because of bureaucratic requirements and were therefore not able to export coal. A contrary effect came from the devaluation of the Indonesian rupiah in relation to the US dollar and falling diesel prices that favoured production because the largest expenditures for coal production must be paid in domestic currency.
- Other countries such as South Africa, Colombia and especially Russia were also able to compensate for declining world market prices by the devaluation of the domestic currency against the US dollar and could even increase their competitiveness because they paid their major expenditures for coal production in domestic currency while receiving payment for the exported coal in US dollars.
As a consequence, the following countries increased their output in 2014 over the comparable period of the previous year:
- South Africa to presumably 265m tonnes (= +3.6%),
- Colombia to 75m tonnes (= about +2%) and
- Russia to 356m tonnes (= +2.6%)
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Tuesday, 05 May 15
OVERSUPPLY PUTTING INDONESIAN COAL PRICES UNDER PRESSURE
COALspot.com: Indonesian coal swap for delivery Q3 2015 lost week over week and month on month, this past week.
The Q3 swap was declined US$ 1 ...
Tuesday, 05 May 15
FOB RICHARDS BAY COAL SWAPS MOVE NORTH THIS PAST WEEK
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 increased month over month and week over week.
The Q3 swap has increas ...
Monday, 04 May 15
FOB NEWCASTLE COAL SWAP Q1'16 PRICES SLIGHTLY LOWER COMPARED TO Q3'15 PRICE
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery gained US$ 1.38 per MT (3.12%) month over month and US$ 0.93 week on week. ...
Monday, 04 May 15
Q1' 2016 CFR SOUTH CHINA THERMAL COAL SWAP CLOSED HIGH THAN 2015 DERIVATIVES
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery declined US$ 0.15 (-0.29%) per MT month over month and increased US$ 0.07 ...
Sunday, 03 May 15
DRY BULK INDICES WEAKEN SLIGHTLY THIS WEEK
COALspot.com: The freight market was flat to weak for the week starting from 27 April. The BDI was fell around 2.17% closed at 580 points.
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- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
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