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Tuesday, 09 August 16
HARD COAL PRODUCTION AND WORLD TRADE ON THE DECLINE FOR THE FIRST TIME IN YEARS - VDKI
 Hard coal production and world trade on the decline for the first time in years – not a harbinger of a global energy turnaround
Worldwide hard coal production declined almost 3% to 7.0 billion tonnes in 2015.
According to German Coal Importer Association, the Coking coal production also fell 10%, while the decline in steam coal was only 1.6%. World trade fell by 8.5% from 1.3 billion tonnes to 1.2 billion tonnes. The impact here as well was above all a consequence of the drastic decline in demand from the steel industry. Declining steel production caused the seaborne trade in coking coal to fall by 12.3%; the price for high-quality Australian coking coal suffered a collapse of 32% between January 2015 and January 2016.
The VDKi further says, the decline in steam coal trade because of the economic fall-off in Asia was not as steep. Seaborne trade on the Asian-Pacific market decreased by 7%. On the other hand, steam coal trade on the Atlantic market rose slightly by 0.5%. The first decline in hard coal production and world trade after years of a boom in raw materials is not a harbinger of a global energy turnaround.
For a number of years, the People’s Republic of China has been the starting point for an unequalled boom in raw materials. The effect of its enormous leverage is now pulling its raw material suppliers down with it. While hard coal production in China declined by 1.5%, the Chinese imports fell by a massive 32%. The market situation is marked by the collapse of demand for steel and over capacities in China. The global steel business was not able to evade the consequences and is suffering from Chinese dumping exports, says Coal Importer Association of German in its latest media release.
There were no signs of a global energy turnaround in 2015 nor is there any reason to expect one in the coming years; the primary scenario from the International Energy Agency (IEA) projects an increase in coal consumption among non-OECD countries of 18% to 1.1 billion tonnes for 2020. This rise is greater than the expected decrease in the OECD countries.
The Coal Importer Association further noted that, a special situation has been noted in the USA and has led to a number of Chapter 11 creditor protection proceedings. The steel crisis, the shale gas boom and a strong exchange rate for the dollar have led to financial difficulties for many American companies. But the replacement of coal by natural gas is not a success story of environmental policies. Gas leakages in the USA have heightened awareness that the replacement of coal by natural gas is not an alternative to the development of renewable energy sources. Politicians have started to focus on the methane emissions during the production of oil and natural gas, which are much more harmful to the climate than carbon dioxide emissions.
In its “bridge” scenario, the International Energy Agency lists the reduction of methane emissions from oil and natural gas production that are harmful to the climate as one of the five primary measures for the implementation of the climate convention of Paris. During their recent climate summit, Canada, the USA and Mexico emphasised this reduction as one of their primary targets along with the promotion of renewable energy sources.
The VDKi commissioned the consulting company Pöyry to conduct a literature study that determined the emissions from hard coal and natural gas over the full length of the added-value chain and calculated for the first time the values for the partial load case that is also important for the energy turnaround. The study comes to the conclusion that open-cycle gas turbines emit up to 76% more greenhouse gases than modern hard coal-fired power plants. The latter are consequently an important pillar for system stabilisation until such time as affordable storage facilities are available.
Prerequisite is a free-market framework for power generation. The proposals from the German government are inadequate in this respect, and the calls for a capacity market have therefore not been quieted. In its sector analysis on capacity markets, the European Commission recommended a review of whether subsidy mechanisms for renewable energy sources that are not in conformity with a free market are responsible for the unnaturally low prices on power exchanges in Europe before any further steps are taken to intervene in the market. The Commission is right: the feed-in priority for renewable energies is the primary culprit here. If power from renewable energy sources were subject to the forces of a free market, the operation of hard coal-fired power plants would be sustainably profitable, and they could assume their bridge function for the Climate Protection Plan 2050.
About the Verein der Kohlenimporteure e.V. (VDKi)
The Verein der Kohlenimporteure e.V. [Coal Importer Association] (VDKi) is the lobby organisation for the hard coal import market in Germany. Its German and European members come from the sectors power, industry, trade and logistics. The Association currently has 70 members who consume about 80% of the German requirements for hard coal of approximately 56 million tonnes in their facilities. Imported coal covers about 90% of Germany’s coal requirements. The VDKi represents the overwhelming share of the hard coal market (German and imported hard coal) in Germany, a financial volume in the billions. The VDKi regularly examines the significance of the global hard coal markets for the European and German import hard coal markets, describes prospects for future import development and regularly publishes statistics about German hard coal imports and prices. Additional information is available at www.verein-kohlenimporteure.de.
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Friday, 02 September 16
EIA FORECASTS U.S. COAL EXPORTS TO DECLINE BY 19 MMST IN 2016 TO 55 MMST
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.3 million sho ...
Thursday, 01 September 16
SUPRAMAX GETTING LEVELS OF MID/HIGHER 7K DELIVERY SINGAPORE FOR TRIPS TO CHINA AND AROUND 9K FOR DIRECTION INDIA - FEARNLEYS
Supramax
This week started slower with London on bank holiday Monday. The south east Asian market seems to have been taking a breather with chart ...
Thursday, 01 September 16
AUSTRALIA'S NEWCASTLE PORT SHIPPED 2.33 PERCENT MORE COAL IN JULY
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1.10 bill ...
Wednesday, 31 August 16
THE DRY BULK MARKET MANAGED TO FIND FURTHER SUPPORT DURING THE LAST DAYS OF THE SUMMER SEASON - INTERMODAL
The Dry Bulk market managed to find further support during the last days of the summer season, with the BDI climbing above 700 last Friday, reachin ...
Tuesday, 30 August 16
THE SUDDEN SURGE IN IRON ORE TRADE HAS CREPT UP ON THE MARKET THIS PAST WEEK - GEORGE LAZARIDIS
The sudden surge in Iron ore trade has crept up on the market this past week bringing about a change in the prospects for Capes. Continued increase ...
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- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Planning Commission, India
- Indika Energy - Indonesia
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
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