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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, 02 April 15
NEWBUILDING ORDERS FOR DRY BULK CARRIERS "DRY" UP
Newbuilding ordering activity remained subdued over the course of the past week, as ship owners are wary of adding further tonnage to an already pr ...
Wednesday, 01 April 15
SUPRAMAX & HANDY: RATES HELD STEADY TOWARDS THE WEEKEND
“Despite the fact that the Dry Bulk market closed off on the green last week, sentiment didn't improve by any means, not only because of ...
Wednesday, 01 April 15
WEEKLY SHIPPING MARKET UPDATE - INTERMODAL
There is no doubt that we are still witnessing a very challenging and at the same time very uncertain market, both with respect to dry chartering a ...
Wednesday, 01 April 15
Q4' 15 INDONESIA COAL SWAP CLOSED AT $45.15 W/E 27 MARCH 2015
COALspot.com: Indonesian coal swap for delivery Q2' 2015 drops month on month and week over week.
The Q2 swap declined US$ 1.54 (3.24%) mo ...
Tuesday, 31 March 15
RICHARDS BAY COAL SWAPS GAIN WEEK OVER WEEK
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 declined month over month but increased week on week.
The Q2 swap has ...
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- Central Electricity Authority - India
- PTC India Limited - India
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
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