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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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Monday, 23 March 15
CFR SOUTH CHINA COAL SWAP: Q3 DELIVERY HAS FALLEN 7.93% MONTH-ON-MONTH
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 4.09 (-7.06%) per MT month over month and US$ 2.00 (-3 ...
Monday, 23 March 15
SEABORNE WORLD COAL TRADE: GROWTH +5% - GERMAN COAL IMPORTER ASSOCIATION
Hard Coal Market 2014: Despite The Energy Turnaround, Hard Coal Imports To Germany Rise By More Than 6%, Although Hard Coal-Fired Power Generation ...
Sunday, 22 March 15
DRY BULK RATES CONTINUED TO RISE THIS WEEK
COALspot.com: The freight market was steady this week as all the segments increased after many weeks of weak trend.
The Baltic Dry Index (BDI) ...
Friday, 20 March 15
U.S. WEEKLY COAL PRODUCTION SHOWS 5.9% INCREASE WEEK OVER WEEK - EIA
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.5 million short tons (mmst) of coal ...
Thursday, 19 March 15
HANDY: INDO COAL CARGOS DESTINED FOR INDIA BEING FIXED IN REGION OF $ 7-8K - FEARNLEYS
Handy
The Handy and Supra market has had a week with mixed signals. Although we see more activity in both hemispheres the rates are only up about ...
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- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Australian Coal Association
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Indian Energy Exchange, India
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
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