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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, 16 March 15
API 5 FOB NEWCASTLE COAL SWAPS: DECLINED
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 2.48 per MT (-4.77%) month over month and US$ 0.93 (-1.84%) we ...
Monday, 16 March 15
CFR SOUTH CHINA THERMAL COAL SWAP DECLINED 3.74% M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 2.17 (-3.74%) per MT month over month and US$ 0.67 (-1 ...
Sunday, 15 March 15
BDI DECLINED LESSER THAN 1% WEEK OVER WEEK; INDO-INDIA FIRM
COALspot.com: The most of indices, including bulk dry index were falling this week. The BDI has been down by just 0.53 points and closing at 562 po ...
Saturday, 14 March 15
CAPESIZE DRY BULKERS TO AVERAGE BETWEEN $3,000 AND $9,000/DAY IN THE COMING WEEKS SAYS BIMCO
BIMCO issued its latest short-term estimates for the dry bulk market. For March/May: BIMCO assesses that the Capesize time charter (T/C) average ra ...
Friday, 13 March 15
U.S. COAL PRODUCTION UP 2.3% WEEK OVER WEEK
COALspot.com – United States the world's one of the largest coal producers, produced approximately 17.5 million short tons (mmst) of coal ...
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- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- ASAPP Information Group - India
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
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