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Tuesday, 13 December 16
COAL DEMAND GROWTH TO STALL AS APPETITE WANES, ACCORDING TO IEA
 Growth in global coal demand will stall over the next five years as the appetite for the fuel wanes and other energy sources gain ground, according to the latest coal forecast from the International Energy Agency.
The share of coal in the power generation mix will drop to 36% by 2021, down from 41% in 2014, the IEA said in the latest Medium-Term Coal Market Report, driven by lower demand from China and the United States, along with fast growth of renewables and strong focus on energy efficiency.
But in a sign of coal’s paradoxical position, the world is still highly dependent on coal. While coal demand dropped in 2015 for the first time this century, the IEA forecasts that demand will not reach 2014 levels again until 2021. However such a path would depend greatly on the trajectory of China’s demand, which accounts for 50% of global coal demand – and almost half of coal production – and more than any other country influences global coal prices.
The new report highlights the continuation of a major geographic shift in the global coal market towards Asia. In 2000, about half of coal demand was in Europe and North America, while Asia accounted for less than half. By 2015, Asia accounted for almost three-quarters of coal demand, while coal consumption in Europe and North America had declined sharply below one quarter. This shift will accelerate in the next years, according to the IEA.
Because it is relatively affordable and widely available, coal remains the world’s number one fuel for generating electricity, producing steel and making cement. It provides almost 30% of the world’s primary energy, declining to 27% by 2021. However it is also responsible for 45% of all energy-related carbon emissions and is a significant contributor to other types of pollution.
“Because of the implications for air quality and carbon emissions, coal has come under fire in recent years, but it is too early to say that this is the end for coal,” said Keisuke Sadamori, the director of the IEA’s energy markets and security directorate, who launched the report in Beijing, China.
“Coal demand is moving to Asia, where emerging economies with growing populations are seeking affordable and secure energy sources to power their economies. This is the contradiction of coal — while it can provide essential new power generation, it can also lock-in large amounts of carbon emissions for decades to come.”
The IEA’s report acknowledges China’s continued dominance in global coal markets. Coal-fired power generation in China dropped in 2015 due to sluggish power demand and a diversification policy that led to the development of new renewable and nuclear power generation capacity. The IEA forecast for Chinese coal demand shows a very slow decline, with chemicals being the only sector in which coal demand will grow, reaching 2,816 Mtce by 2021, around 100 Mtce less than the 2013 peak.
In the United States, coal consumption dropped by 15% in 2015, precipitated by competition from cheap natural gas, cheaper renewable power – notably wind – and regulations to reduce air pollutants that led to coal plant retirements. This was the largest annual decline ever, reaching levels not seen in more than three decades. Another substantial decline is expected in 2016. Looking ahead, the IEA forecasts a 1.6% per year decline, much slower than 6.2% decline over the past five years, as higher gas prices result in less coal-to-gas switching.
The brightest sign for coal was a recent unexpected boost in prices that provided relief to the industry. After a sustained four-year long decline, coal prices rebounded in 2016, mostly because of policy changes in China to cut capacity and curb oversupply. This was another example of the strong influence of macroeconomic developments and policies in China in shaping the global coal market.
The report also points out that despite the Paris Agreement there is no major impetus to promote the development of carbon capture and storage technology.
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Wednesday, 14 December 16
INTERNATIONAL TRIBUNAL DISMISSED CHURCHILL MINING'S DAMAGES CLAIM AGAINST REPUBLIC OF INDONESIA
The Directors of Churchill Mining plc advise that, the ICSID Tribunal (“Tribunal”) granted Indonesia’s application to dismiss the ...
Wednesday, 14 December 16
20/20 VISION! - JOHN N. COTZIAS
2020; A year that could be changing shipping. In early November, the International Maritime Organization (IMO) announced that it would set a 0.5% s ...
Tuesday, 13 December 16
THE FREIGHT MARKET MAY WELL BE SHOWING SIGNS OF HEADING FOR ITS DOWNWARD CORRECTIVE PHASE - ALLIED
2016 has been a tough market for dry bulkers and through these difficult earnings, we have seen some of the lowest prices being noted historically ...
Monday, 12 December 16
U.S. WEEKLY COAL PRODUCTION TOTALS 16.3 MMST, UP 7.4% - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.3 million short ton ...
Monday, 12 December 16
INDONESIA TO INDIA FREIGHT RATES ARE EXPECTED TO BE SOFT THIS WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline this past week and ending on a negative note week ...
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- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Parliament of New Zealand
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Romanian Commodities Exchange
- CNBM International Corporation - China
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- The University of Queensland
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Australian Coal Association
- SMC Global Power, Philippines
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- The Treasury - Australian Government
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
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