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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, 10 March 15
FOB NEWCASTLE COAL SWAPS HEADING SOUTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 0.24 per MT (-0.47%) month over month and US$ 1.52 (-2.93%) we ...
Tuesday, 10 March 15
CFR SOUTH CHINA POWER-STATION COAL SWAPS DECLINE
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery fell US$ 0.42 (-0.74%) per MT month over month and declined US$ 1.00 &nbs ...
Monday, 09 March 15
INDONESIA GREETS INDIA RATE CUT AS GOOD FOR EXPORTS - GLOBEASIA
Indonesian commodity producers and economists have hailed the Indian central bank’s rate cut as good for boosting exports from Southeast Asia ...
Monday, 09 March 15
CHINA'S SUPREME COURT ISSUES NEW JUDICIAL INTERPRETATION ON SHIP ARREST AND JUDICIAL SALE OF SHIPS - GARD
KNOWLEDGE TO ELEVATE
China is not traditionally a popular jurisdiction for ship arrest. However, Members and clients with ships calling at por ...
Monday, 09 March 15
CHINA'S IMPORTS - NEVER MORE IMPORTANT TO SHIPPING? - CLARKSONS
Over the last 15 years China has led maritime forecasters a right old dance. In 2002, rumours that Chinese iron ore imports were about to take off ...
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- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- PTC India Limited - India
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
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