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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, 17 March 15
GAS TO CHALLENGE COAL IN THE ASIAN POWER GENERATION MIX - WOOD MACKENZIE
KNOWLEDGE TO ELEVATE
Wood Mackenzie says that coal is facing increasing competition from gas in the power sector. Coal has dominated as the fu ...
Tuesday, 17 March 15
RIO TINTO PAID US$ 7.1 BILLION IN TAXES IN 2014
COALspot.com: Rio Tinto has published its latest Taxes paid report, detailing the US$7.1 billion in taxes paid by the company around the world in 2 ...
Tuesday, 17 March 15
NEARLY 17% OF US COAL PRODUCTION UNECONOMIC AT CURRENT MARKET PRICING - WOOD MACKENZIE
COALspot.com: Close to 17% of forecast 2015 US coal production is at risk of idling or closure, totalling 162 million short tons (Mst), as these mi ...
Tuesday, 17 March 15
Q3' SA COAL SWAP CLOSED $57.30 PMT W/E 13 MARCH
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 declined month over month and gained week on week.
The Q2 swap has fe ...
Monday, 16 March 15
MAKING THE WORLD GO ROUND - SEABORNE TRADE! - CLARKSONS
Money, or even love if you prefer, are claimed to make the world go round. For the shipping world, however, it’s trade that sets things spinn ...
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- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- The University of Queensland
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
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