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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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Thursday, 16 April 15
SHIPPING DEMAND TO SUFFER AS CHINESE SLOWDOWN CONFIRMED SAYS BIMCO'S CHIEF SHIPPING ANALYST - BIMCO
The Chinese economy grew by 7.0% y-o-y in the first quarter of 2015, according to National Bureau of Statistics in China. This is the weakest overa ...
Thursday, 16 April 15
INDIA: COAL IMPORTS RISE BY 33 PC TO 240 MT IN FY'15 - PTI
India’s coal imports in the just concluded FY 2015 increased by 33 per cent to about 240 million tonnes.
“Coal import have gone up ...
Thursday, 16 April 15
CAPESIZE: THE SUPPLY AND DEMAND SIDE ARE NOW SUFFERING HEAVILY - FEARNLEYS
Handy
It seems to be some standoff between owners and charterers in both hemispheres this week. Owners are raising their rates while charterers a ...
Thursday, 16 April 15
Q3 FOB RICHARDS BAY COAL SWAP CLOSED AT $ 55.67 PMT
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q2' 2015 declined month over month.
The Q2 swap has declined US$ 1.90 (3.17%) m ...
Wednesday, 15 April 15
PORT OF NEWCASTLE SHIPPED 13.63 MMT OF COAL IN MARCH; UP 4.41% M-O-M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.227 billi ...
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- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
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