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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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Saturday, 28 March 15
THE DRY BULK FLEET AT BREAKING POINT - CLARKSONS
The severe oversupply in the bulkcarrier fleet has contributed to the current trough in the dry bulk market, putting considerable financial pressur ...
Friday, 27 March 15
INDONESIA: NEW REGULATION REQUIRES LETTER OF CREDIT FOR EXPORT OF PRODUCTS FROM NATURAL RESOURCES
The Minister of Trade issued Ministerial Regulation No. 04/M-DAG/PER/1/2015 (“Regulation No. 4/2015”) on 5 January 2015. Regulati ...
Friday, 27 March 15
WEEKLY U.S COAL OUTPUT FALLS 1.7% W-W; 7.9% Y-Y
COALspot.com – United States the world's one of the largest coal producers, produced approximately totaled an estimated 18.2 million ...
Thursday, 26 March 15
CHINA IRON ORE IMPORT FOR THE FIRST 2 MONTHS DECLINED BY 1.2 % Y-O-Y; PANAMAX AUSSIE/CHINA ROUNDS BEING FIXED IN THE $4 -5K RANGE - FEARNLEYS
Handy
There has been more activity in both hemispheres this week. Especially the USG market has picked up with more cargoes for prompter dates en ...
Thursday, 26 March 15
RATES FOR THE SMALLER SIZE SEGMENT CONTINUED TO IMPROVE LAST WEEK - INTERMODAL
To see green across the board is a rare occurrence in the Dry Bulk market nowadays and while the upside in which last week closed off is not of the ...
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- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- PTC India Limited - India
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
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