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