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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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- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- MS Steel International - UAE
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- White Energy Company Limited
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Australian Coal Association
- Bharathi Cement Corporation - India
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
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