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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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Monday, 08 August 16
THE BALTIC EXCHANGE, TRACKING RATES FOR SHIPS CARRYING DRY BULK COMMODITIES SLIDE SLIGHTLY
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities slide slightly as Panamax and Supramax segments ending in ...
Monday, 08 August 16
ARE EXPENSES INCURRED DURING NEGOTIATION OF A PIRATE RANSOM RECOVERABLE IN GENERAL AVERAGE? - CLYDE&CO
KNOWLEDGE TO ELEVATE
Facts
The laden chemical tanker LONGCHAMP was transiting the Gulf of Aden on passage to Vietnam. The ship was subject t ...
Saturday, 06 August 16
DRY BULK SHIPPING CHARTER RATES TO RISE ON UNEXPECTED DEMAND GROWTH - DREWRY
Increasing trade and contracting supply will support a recovery in charter rates on major dry bulk shipping routes, with the prospect of China impo ...
Friday, 05 August 16
WEEKLY U.S. COAL OUTPUT TOTALED AN ESTIMATED 16.1 MMST IN THE WEEK ENDED JULY 30 - EIA
COALspot.com – U.S., the world’s second largest coal producers has produced approximately totalled an estimated 16.1 million short tons ...
Friday, 05 August 16
CAPESIZE : RATES ARE REMAINING AT DEPRESSING LEVELS DUE TO LACK OF FRESH CARGOES - FEARNLEYS
Supramax
Last week has been one of the slowest for some time with rates under pressure in most areas.
In its latest weekly report, shipbroke ...
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- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
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