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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$60/tonne, a drop of 28% over January 2014
The steep drop in freight rates end of 2014/beginning of 2015 contributed to this development. An increasingly weaker euro in comparison with the US dollar led to price disadvantages in the euro zone. The average border-crossing price free German border (BAFA price) in Q4 2014 came to €73.41/TCE while the weighted average price for the year was €72.94/TCE
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Tuesday, 07 April 15
SUB-BIT FOB INDONESIA COAL SWAP KEEPS DROPPING; DROPPED 2% W-W
COALspot.com: Indonesian coal swap for delivery Q2 2015 declined month on month and week over week.
The Q2 swap was declined US$ 2.44 (5.14%) ...
Tuesday, 07 April 15
Q3 FOB RICHARDS BAY COAL SWAP CLOSED AT $ 55.96 PMT; DOWN 8.40% M-M
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q2' 2015 declined month over month and week on week.
The Q2 swap has declined U ...
Monday, 06 April 15
INDONESIA'S HBA FIXED AT US$ 64.48 PMT FOR APRIL DELIVERY; DOWN 4.84% M-M
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down Indonesian coal benchmark prices to US$ 64.48 per MT in Apr ...
Monday, 06 April 15
FOB NEWCASTLE COAL SWAP DECLINED 12% MONTH OVER MONTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 6.23 per MT (-12%) month over month and US$ 0.86 (-1.85%) week ...
Monday, 06 April 15
CFR SOUTH CHINA COAL SWAP FALL CONTINUES
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 5.96 (-10.37%) per MT month over month and US$ 0.98 (- ...
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- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
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- Siam City Cement - Thailand
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- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
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- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
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- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
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- Wilmar Investment Holdings
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- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- The University of Queensland
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
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- Chamber of Mines of South Africa
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- MS Steel International - UAE
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- Pipit Mutiara Jaya. PT, Indonesia
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- The Treasury - Australian Government
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- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
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- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
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- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Parliament of New Zealand
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- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
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- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
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