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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, 25 July 16
THE BDI FELL ON WEAKER RATES FOR CAPESIZE & PANAMAX VESSELS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities slide slightly as Cape and Panamax segments ending in neg ...
Friday, 22 July 16
U.S COAL OUTPUT ROSE 17.2% WEEK OVER WEEK - EIA
COALspot.com – U.S, world’s second largest coal producers has produced approximately totalled an estimated 15.1 million short tons (mms ...
Thursday, 21 July 16
WHAT TO DO WHEN YOU DON'T GET PAID - SHIPOWNERS CLUB
Present market conditions have led to an increase in claims related to unpaid hire. To recover unpaid hire, Owners need to fully understand who the ...
Thursday, 21 July 16
CONSTRUCTIVE TOTAL LOSS: WHAT GOES IN TO CALCULATING QUANTUM? - HILL DICKINSON
KNOWLEDGE TO ELEVATE
The Commercial Court recently delivered its judgment in an important case (Connect Shipping Inc and Machrimar Management ...
Wednesday, 20 July 16
EDIBLE OIL MARKETS ACROSS THE GLOBE REMAIN UNDER PRESSURE - STELIOS KOLLINTZAS
The edible oil markets across the globe remain under pressure on the back of lackluster demand. Some of the main factors causing the low activity a ...
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- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- The University of Queensland
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- White Energy Company Limited
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Australian Coal Association
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
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