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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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Wednesday, 22 April 15
TANKER MARKET INSIGHT - STRATOS TINIAKOS
The current environment we experience as a result of low crude oil prices is characterized by the increased demand for petroleum products in OECD c ...
Tuesday, 21 April 15
SUB-BIT FOB INDONESIA COAL SWAP: GAINED W-O-W; DECLINED M-O-M
COALspot.com: Indonesian coal swap for delivery Q2 2015 gained week over week and declined month on month.
The Q2 swap was declined US$ 1.75 ( ...
Tuesday, 21 April 15
FOB RICHARDS BAY COAL SWAP MOVE UP SLIGHTLY
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q2' 2015 increased slightly month over month.
The Q2 swap has increased US$ 0.2 ...
Monday, 20 April 15
BUKIT ASAM TAKES OVER STAKE IN JV FROM RAJAWALI - JP
State-owned coal miner PT Bukit Asam (PTBA) announced Friday that it had taken over almost the entire stake in a joint venture (JV) that it created ...
Monday, 20 April 15
FOB NEWCASTLE COAL SWAP GAINED WEEK ON WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 3.54 per MT (-7.21%) month over month and gained US$ 0.30 week ...
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- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Posco Energy - South Korea
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- Australian Coal Association
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
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