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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, 11 July 16
DRY BULK MARKET: UP TO 30 MILLION DWT OF OLDER BULKERS WILL NEED TO BE SCRAPPED BY END OF 2017 FOR MARKET TO FIND BALANCE
Tonnage oversupply in the dry bulk market is more than evident, as newbuildings have been hitting the water faster than owners can scrap their olde ...
Friday, 08 July 16
U.S. WEEKLY COAL OUTPUT UP 3% TO 14.1 MMST - EIA
COALspot.com – U.S, world’s second largest coal producers has produced approximately totalled an estimated 14.1 million short tons (mms ...
Thursday, 07 July 16
PANAMAX : THE TENDENCY FROM LAST WEEK CONTINUES WITH A CONSIDERABLY STRONGER SENTIMENT ALL ACROSS THE BLOCK - FEARNLEYS
Capesize
Rates have been holding at steady levels over the last weeks but towards end of this period they are becoming under more pressure as gen ...
Thursday, 07 July 16
CONSOLIDATION TO RULE OVER SHIPPING, AS EXECUTIVES SEEK INVESTMENT OPPORTUNITIES IN CHINA, INDIA AND EUROPE SAYS NORTON ROSE SURVEY
The transport sector is looking to Asia Pacific as the key market for investment over the next five years, according to the seventh The way ahead T ...
Wednesday, 06 July 16
KOMIPO INVITES BIDS FOR 780000 MT OF BITUMINOUS COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 780,000 Metric Tons of Bituminous Coal for its B ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Bhatia International Limited - India
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
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