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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$60/tonne, a drop of 28% over January 2014
The steep drop in freight rates end of 2014/beginning of 2015 contributed to this development. An increasingly weaker euro in comparison with the US dollar led to price disadvantages in the euro zone. The average border-crossing price free German border (BAFA price) in Q4 2014 came to €73.41/TCE while the weighted average price for the year was €72.94/TCE
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Thursday, 26 March 15
KYUSHU ELECTRIC POWER OF JAPAN HAS JOINED GLOBALCOAL ONLINE COAL TRADING PLATFORM
globalCOAL® announced today that Kyushu Electric Power, one of Japan’s largest utility companies, has joined its online coal trading plat ...
Wednesday, 25 March 15
MARKET INSIGHT: TANKER CHARTERING - KATERINA RESTIS
The 1st of January 2015, as broadly reported, denoted the beginning date of new and progressive emission regulations for vessels operating within t ...
Wednesday, 25 March 15
AUSTRALIA SET TO ONCE AGAIN BE THE WORLD'S LARGEST COAL EXPORTER - COAL, MINERALS COUNCIL OF AUSTRALIA
Greg Evans, Executive Director - Coal, Minerals Council of Australia
Media Release: The latest Resources and Energy Quarterly published by the ...
Wednesday, 25 March 15
AUSTRALIA UPSTREAM ENERGY FIRMS FACE RISING OIL PRICE EXPOSURE - FITCH
Fitch Ratings says the Australian oil and gas companies involved in exploration and production face higher exposure to oil price-linked revenues, w ...
Tuesday, 24 March 15
A WEAK WEEK FOR FOB INDONESIA COAL SWAP
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 drop month on month and week over week.
The Q2 swap fell US$ 2.48 (5.12%) month ...
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- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- MS Steel International - UAE
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- The University of Queensland
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- White Energy Company Limited
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Aditya Birla Group - India
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