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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, 26 March 15
KYUSHU ELECTRIC POWER OF JAPAN HAS JOINED GLOBALCOAL ONLINE COAL TRADING PLATFORM
globalCOAL® announced today that Kyushu Electric Power, one of Japan’s largest utility companies, has joined its online coal trading plat ...
Wednesday, 25 March 15
MARKET INSIGHT: TANKER CHARTERING - KATERINA RESTIS
The 1st of January 2015, as broadly reported, denoted the beginning date of new and progressive emission regulations for vessels operating within t ...
Wednesday, 25 March 15
AUSTRALIA SET TO ONCE AGAIN BE THE WORLD'S LARGEST COAL EXPORTER - COAL, MINERALS COUNCIL OF AUSTRALIA
Greg Evans, Executive Director - Coal, Minerals Council of Australia
Media Release: The latest Resources and Energy Quarterly published by the ...
Wednesday, 25 March 15
AUSTRALIA UPSTREAM ENERGY FIRMS FACE RISING OIL PRICE EXPOSURE - FITCH
Fitch Ratings says the Australian oil and gas companies involved in exploration and production face higher exposure to oil price-linked revenues, w ...
Wednesday, 25 March 15
2014 : UK COAL IMPORTS DECLINED 17%; GERMANY COAL IMPORTS UP 6%
Hard Coal Market 2014: Despite The Energy Turnaround, Hard Coal Imports To Germany Rise By More Than 6%, Although Hard Coal-Fired Power Generation ...
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- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- The University of Queensland
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Planning Commission, India
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
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