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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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Thursday, 04 August 16
INDONESIAN COAL PRICES ARE STARTING TO ZOOM HIGHER; HBA ROSE 10.13% TO US$ 58.37 PER TON
COALspot.com: The Indonesia coal benchmark price hits to its highest level since August 2015.
The Director General of Mineral and Coa ...
Thursday, 04 August 16
BREXIT: IMPLICATIONS FOR GLOBAL SHIPPING AND SEA TRADE - EVERSHEDS
The buzzword for the post-Brexit landscape both in Europe and further afield is ‘uncertainty’. No-one really knows the long term effect ...
Wednesday, 03 August 16
RECAAP INFORMATION SHARING CENTRE ISSUES SPECIAL REPORT ON THE ABDUCTING OF CREW FROM SHIPS IN WATERS OFF EASTERN SABAH AND SOUTHERN PHILIPPINES - THE STANDARD CLUB
KNOWLEDGE TO ELEVATE
In the light of three incidents where the crew of tug boats were abducted in the waters off Eastern Sabah and Southern Ph ...
Wednesday, 03 August 16
SHIPPING MARKET INSIGHT - EVA TZIMA
The Good…
Demand. Amidst all the unprecedented geopolitical turmoil and shifts in the likes of Brexit, the IMF lowered last month its glob ...
Wednesday, 03 August 16
SHIP TRADING AND ORDERING CLOSE TO A STALEMATE AS SUMMER LULL KICKS IN
With newbuilding activity already at a near standstill since the start of the year, most of 2016’s trading activity in shipping was evident i ...
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- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Coal and Oil Company - UAE
- PTC India Limited - India
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Planning Commission, India
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
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