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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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Wednesday, 11 March 15
DRY BULK MARKET CLOSED OFF ON THE GREEN FOR A SECOND WEEK IN A ROW - INTERMODAL
COALspot.com: The Dry Bulk market closed off on the green for a second week in a row, while the performance of Capesizes hindered a more substantia ...
Wednesday, 11 March 15
MARKET INSIGHT : NEWBUILDINGS - PANOS TSILINGIRIS
From a cost-based, buy-low perspective, there is currently a buying opportunity in the second-hand dry bulk market. I am an anti-cyclical (buy-low) ...
Wednesday, 11 March 15
DRY BULK MARKET: ALL IS NOT LOST FOR A RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The low cost of commodities across the board could trigger an increase of trade among many countries, which in turn could lead to a recovery of the ...
Wednesday, 11 March 15
U.S. ELECTRIC GENERATING COMPANIES TO ADD MORE THAN 20 GW OF GENERATING CAPACITY IN 2015; 16 GW OF GENERATING CAPACITY IS EXPECTED TO RETIRE IN 2015
COALspot.com: In 2015, electric generating companies in U.S. expect to add more than 20 gigawatts (GW) of utility-scale generating capacity to the ...
Tuesday, 10 March 15
OIL PRICE FORECASTING - IGNORE THE EXPERTS: COLIN MARSHALL
KNOWLEDGE TO ELEVATE
Experts put themselves on a pedestal, making claims to have special forecasting abilities for oil price trends. They, too ...
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- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
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