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Wednesday, 25 March 15
2014 : UK COAL IMPORTS DECLINED 17%; GERMANY COAL IMPORTS UP 6%
 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 3). To click Part 1 and Part 2 to read previous articles.
Lower coal imports to the UK and France, higher imports to Spain and Germany – VDKi
The picture among the various member states of the European Union with respect to steam coal imports in comparison with 2013 was varied: imports to the United Kingdom declined to 32m tonnes (-17%) and imports to France fell to 9m tonnes (-30%), while Italy was able to hold its imports (16m tonnes) at the level of the previous year. In contrast, Spain (presumably 13m tonnes) and Germany (approximately 42m tonnes) imported 18% and 6% more hard coal, respectively, than in the year before.
The reasons for this development:
- The continued weakness of the economies in the EU, with the exception of Germany and Spain, where the economy is showing signs of recovery;
- Decrease in the full load utilization hours of coal-fired power plants owing to greater power generation from renewable energy sources;
- The low power wholesale prices; power plants can no longer be operated profitably and thus are not being used.
Hard coal-fired power generation was favoured by the continuing advantage of the so-called clean dark spread (costs for coal, freight and CO2 certificates) over the so-called clean spark spread (costs for gas, transport and CO2 certificates) in 2014 despite the price pressure on gas. This situation has supported coal-fired power generation and favoured the continued replacement of gas-fired power generation in Europe. Electric power was exported primarily to countries, which rely strongly on gas for power generation, like the United Kingdom and especially since coal-fired power generation has been made more expensive by UK legislation or The Netherlands or to countries which do not have adequate power plant capacities available, such as currently is the case in Bel-gium. The example of Belgium makes it clear how essential sufficient capacities on the power market are: Germany should take steps as soon as possible to ensure security of supply from hard coal-fired power generation capacities available at all times by creating a power market design in conformity with market requirements which does not dis-criminate against hard coal-fired power plants, requests the VDKi.
Power exports to other countries rise again by 3%
The export balance (export less import) in Germany increased to 35.5 TWh, a plus of 1.7 TWh over 2013. The exported power volume, which increased 3% in comparison to the previous year stems primarily from hard coal-fired power plants because nuclear power plants and lignite-fired power plants are operating in the base load range. While on this subject, the VDKi wants to clarify a misunderstanding which is often heard: There are claims that hard coal-fired power plants (must) export power at dumping prices because of the high feed-in of power from renewable sources in Germany when weather conditions are favourable. That is not correct. Hard coal-fired power plants are highly flexible. They are the “swing suppliers” in power generation, assuring the security in terms of electricity production decisively so far. They produce power for export only if and when the power wholesale market or a buyer offers a price which is higher than the marginal costs (especially fuel costs and costs for CO2 certificates) of the specific power plant. Power prices in neighbouring countries, especially in the UK, Belgium and The Netherlands, are frequently several Euros per MWh higher than on the German power wholesale market, featuring as it does prices influenced (contrary to market conditions) by the priority feed-in of renewable energies and variable costs of €0, which means that the import of German power by our foreign neighbours is profitable.
In total, however, the gross power generation in Germany in 2014 declined by 3% to 614 TWh, caused especially by the mild winter of 2014, according to the Federal Association of the Energy and Water Industry (BDEW). About 68% of this power, just as last year, comes from conventional energy sources. The share of hard coal in the energy mix in Germany amounted to just under 18% in 2014. All of this has happened against the backdrop of the growing share of renewable energies; their share of gross power generation for 2014 reached 27.8%.
Hard coal imports to Germany reach a historical high point at 56m tonnes
Estimates of the VDKi show that hard coal imports to Germany in 2014 developed as shown below:
- Total hard coal imports to Germany increased in the past year by about 3.3m tonnes (6.3%) to an historical high point of more than 56m tonnes. This is the highest level of hard coal imports to Germany since the establishment of the European Community for Coal and Steel in 1957.
- In comparison with 2013, imports of steam coal increased by about 5% to 41.9m tonnes while imports of coking coal rose by 15% to 11.7m tonnes for the iron and steel industry. Solely the import of coke declined by about 6% to 2.4m tonnes.
- Especially in Q3 and Q4 significant volumes of 7.8m and 10.5m tonnes of steam coal were imported to Germany:
The Arbeitsgemeinschaft Energiebilanzen (AGEB) estimates the consumption of hard coal in 2014 in comparison with the previous year as shown below:
- Hard coal consumption for power generation declined by 11.7% to 36.9m TCE (or about 43m tonnes regarding the calorific value of 6000 kcal).
- Hard coal consumption for the steel industry rose, especially during the first half of 2014, by 1.1% to 17.8m TCE (or about 20.7m tonnes) because of a slight improvement in the economic situation.
- Hard coal consumption for heating market declined by 6.3% to 1.5m TCE (or 1.75m tonnes) because of mild weather conditions.
Russia, South Africa, Canada, Australia and Poland increased their exports to Germany by between 1.5% and more than 100% (South Africa). Exports from the USA and Colombia to Germany fell by 7.8% to 11.1m tonnes and by 26.2% to 7.4m tonnes, respectively, in 2014. Russia was again the most important coal exporter, followed by the USA, in 2014. Owing to the current oversupply on the coal market and the privately organized mining operations in Russia, the VDKi does not consider this to be a problem with regard to supply security. Even if supplies from Russia were cut off completely tomorrow, this volume could be procured inherently (unlike natural gas) from other countries
The world market prices continued to slump (with only a few short interruptions in 2014), especially in Q4 2014 and at the beginning of 2015. The CIF ARA prices reached their lowest point for the moment in the middle of the year, posting a little over US$72 per tonne. After a minor recovery, prices started giving way again in September. At the end of December 2014, a tonne of hard coal CIF ARA cost only about US$71, and in January 2015, the price fell below US$60/tonne, a drop of 28% over January 2014
The steep drop in freight rates end of 2014/beginning of 2015 contributed to this development. An increasingly weaker euro in comparison with the US dollar led to price disadvantages in the euro zone. The average border-crossing price free German border (BAFA price) in Q4 2014 came to €73.41/TCE while the weighted average price for the year was €72.94/TCE
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Tuesday, 05 May 15
OVERSUPPLY PUTTING INDONESIAN COAL PRICES UNDER PRESSURE
COALspot.com: Indonesian coal swap for delivery Q3 2015 lost week over week and month on month, this past week.
The Q3 swap was declined US$ 1 ...
Tuesday, 05 May 15
FOB RICHARDS BAY COAL SWAPS MOVE NORTH THIS PAST WEEK
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 increased month over month and week over week.
The Q3 swap has increas ...
Monday, 04 May 15
FOB NEWCASTLE COAL SWAP Q1'16 PRICES SLIGHTLY LOWER COMPARED TO Q3'15 PRICE
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery gained US$ 1.38 per MT (3.12%) month over month and US$ 0.93 week on week. ...
Monday, 04 May 15
Q1' 2016 CFR SOUTH CHINA THERMAL COAL SWAP CLOSED HIGH THAN 2015 DERIVATIVES
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery declined US$ 0.15 (-0.29%) per MT month over month and increased US$ 0.07 ...
Sunday, 03 May 15
DRY BULK INDICES WEAKEN SLIGHTLY THIS WEEK
COALspot.com: The freight market was flat to weak for the week starting from 27 April. The BDI was fell around 2.17% closed at 580 points.
...
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- Semirara Mining Corp, Philippines
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- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
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- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
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- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
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- Singapore Mercantile Exchange
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- Eastern Coal Council - USA
- Central Java Power - Indonesia
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- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Goldman Sachs - Singapore
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- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
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- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
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- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- Parliament of New Zealand
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- Attock Cement Pakistan Limited
- White Energy Company Limited
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
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- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
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- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
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- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- VISA Power Limited - India
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
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