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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, 28 April 15
Q2' 15 FOB RICHARDS BAY COAL SWAP CLOSED 4.18% HIGHER FROM MONTH AGO
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q2' 2015 increased month over month and slightly week over week.
The Q2 swap ha ...
Monday, 27 April 15
U.S. COAL PRODUCTION FELL BELOW ONE BILLION SHORT TONS IN 2013 - EIA
COALspot.com: For the first time in two decades, U.S. coal production fell below one billion short tons to 984.8 million short tons in 2013 from 1, ...
Monday, 27 April 15
Q3' 2015 FOB NEWCASTLE COAL SWAP CLOSED 3.69% LOWER THAN Q2' 2015 PRICE OF $46.36
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery gained US$ 0.19 per MT (0.41%) month over month and US$ 0.78 week on week. ...
Monday, 27 April 15
CFR SOUTH CHINA COAL SWAP SLOWLY IMPROVED THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 0.74 (-1.41%) per MT month over month and increased US$ 0.43 ...
Sunday, 26 April 15
DRY BULK MARKET KEPT IMPROVING THIS WEEK; CAPES AND PANAMAXES SHOW A SLIGHT PICKUP IN RATES
COALspot.com: The freight market was stable this week as BDI closed at 600 points after improving 0.50 percent week over week.
The cape ...
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- White Energy Company Limited
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- VISA Power Limited - India
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- ASAPP Information Group - India
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Goldman Sachs - Singapore
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