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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, 19 March 15
INDONESIAN COAL BENCHMARK SOAR 7.69% IN MARCH....!!!
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised up Indonesian coal benchmark prices to US$ 67.76 per MT in March ...
Wednesday, 18 March 15
AVERAGE RATE FOR CAPES MOVED TO BELOW $ 4K/DAY LAST WEEK - INTERMODAL
COALspot.com: The even heavier losses noted in the Capesize segment last week, denied the Dry Bulk market a third weekly positive, while the smalle ...
Wednesday, 18 March 15
PARKING THE CAPES - LINOS KOGEVINAS
It is no secret that recent times have been anything but kind towards shipping, and no sector has suffered more lately than the dry bulk one. While ...
Wednesday, 18 March 15
CHINA-OWNED SHIPS: A RAPID RISE TO BECOME ONE OF THE WORLD'S LARGEST FLEETS - RICHARD SCOTT
Ships operated by owners based in China have become increasingly prominent on the world’s sea routes. China-owned container ships, bulk carri ...
Wednesday, 18 March 15
Q2 INDONESIAN COAL SWAP DROP 1.45% M-O-M; GAIN 0.63% W-O-W
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 drop month on month and gained week over week.
The Q2 swap fell US$ 0.70 (1.45%) ...
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- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- PTC India Limited - India
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
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