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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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Wednesday, 13 July 16
EIA FORECASTS U.S. COAL EXPORTS TO DECLINE BY 15 MMST IN 2016 AND BY 4 MMST IN 2017
COALspot.com: U.S. coal production in June was 57 million short tons (MMst), a 6 MMst (13%) increase from May and 9 MMst (14%) lower than in June 2 ...
Wednesday, 13 July 16
2015 VS. 2016; THE DRY BULK DEMOLITION DERBY - JOHN N. COTZIAS
In the first half of the year 373 Bulkers and General Cargo ships were scrapped representing 23.8mil tons of dwt carrying capacity.
Comparing ...
Tuesday, 12 July 16
DUE TO LONG HOLIDAYS, CS COAL INDICES HELD AT THE SAME LEVEL OF THE PREVIOUS WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin was flat week over week to averaging $39.98 per ton this past week.
Due to the ...
Monday, 11 July 16
COAL MARKETS SAW IMPROVED PRICES IN H1 2016 - SGX'S COMMODITIES MID-YEAR REFLECTION
COALspot.com: Coal
Coal markets saw improved prices in H1 2016 with the benchmark coking coal and thermal coal spot prices rising 18% and 25%, re ...
Monday, 11 July 16
THE MAIN SEA FREIGHT INDEX, BDI ROSE FURTHER ON 8 JULY DUE TO STRONG DEMAND FOR PANAMAX SHIPS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week. The BDI was up 3.84 percent from las ...
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- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Indonesian Coal Mining Association
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
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