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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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Tuesday, 24 March 15
A WEAK WEEK FOR FOB INDONESIA COAL SWAP
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 drop month on month and week over week.
The Q2 swap fell US$ 2.48 (5.12%) month ...
Tuesday, 24 March 15
RICHARDS BAY COAL SWAP FOR DELIVERY Q2 CLOSED $ 1.87 HIGHER COMPARED TO Q3 CLOSING PRICE
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 declined month over month and week on week.
The Q2 swap has dropped U ...
Tuesday, 24 March 15
ARGUS MEDITERRANEAN SOLID FUELS 2015 CONFERENCE | 2-3 JUNE, ISTANBUL
Press Release: Argus Media is proud to announce Argus Mediterranean Solid Fuels, which will be held in Istanbul,on 2-3February.
Argus produces ...
Monday, 23 March 15
IS OIL GETTING READY TO PLUNGE BELOW $40? - FORBES
KNOWLEDGE TO ELEVATE
In my last crude oil market update in late-February, I expressed my skepticism toward the oil price rebound. Since then, ...
Monday, 23 March 15
Q4' 2015 FOB NEWCASTLE COAL SWAPS DECLINED 6.79% M-O-M; 2.55% W-O-W
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 3.42 per MT (-6.33%) month over month and US$ 1.37 (-2.77%) we ...
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- Kumho Petrochemical, South Korea
- White Energy Company Limited
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Parliament of New Zealand
- GMR Energy Limited - India
- Aditya Birla Group - India
- The University of Queensland
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Australian Coal Association
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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