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Saturday, 22 September 18
GERMANY'S MOVE TO SCRAP COAL WILL COST TAXPAYERS - BRIAN PARKIN | WILLIAM WILKES
 Chancellor Angela Merkel’s plan to close Germany’s remaining coal-fired power stations will drive up subsidies for regions that mine the commodity, according to a document from the economy and energy ministry seen by Bloomberg.
Taxpayers are already slated to send 35 billion euros ($41 billion) of aid to four coal regions from 2013 to 2028 and will have to increase that amount as efforts to scale back pollution eliminates jobs at mines and power plants, the economy ministry estimated in a report drawn up last month.
The findings were submitted to the commission that Merkel asked to study when Germany could finally close its remaining 120 coal stations, which supplied more than a third of the nation’s electricity last year. After spending 500 billion euros to switch off the most polluting power plants, Merkel is now seeking to balance environmental goals against the need to protect jobs and keep a lid on electricity prices now at their highest level in years.
“The faster Germany pulls out of coal, the more expensive it’s going to be and we’re not talking about negligible costs,” said IGBCE miners, chemical and electrical workers’ union spokesman Lars Ruzic on the phone from Hanover Tuesday. “The phase-out is an immense disruption for utilities, the coal regions, jobs and the broader economy.”
Merkel’s coal commission has kept quiet about its private deliberations. It’s due to publish its main recommendations by the end of October. Philipp Jornitz, a spokesman for the Economy and Energy Ministry in Berlin, declined to comment on the report.
The documents dated Aug. 14 give a glimpse into the advice that’s feeding into Merkel’s coal commission. The panel, including lawmakers from the main political parties, environmental groups, analysts and unions, is drawing up a proposal for how quickly Germany should make the switch from fossil fuels in favor of cleaner forms of energy.
It said that the aid currently scheduled to go to coal regions is a “definite underestimate” of the actual amount of funding supporting those areas, since it excludes additional European Union payments to regional economies in transition.
Power in Germany is already the most expensive in Europe, according to the BDEW utilities federation. Closing the nation’s 120-odd coal plants by 2040 would push up power bills by 20 percent or by 29 billion euros, consultancy Frontier Economics said in an August report financed by RWE AG.
Germany’s remaining coal plants currently have a capacity of 46.7 gigawatts, about 23 percent of the nation’s total electric generation, which can produce 205 gigawatts in total. Wind turbines surpassed coal as the largest contributor to the grid last year.
The mandate of Merkel’s coal commission is to suggest a way government can “actively support structural change” in the coal regions, calibrating an exit from the most polluting fossil fuel while kick-starting new businesses to preserve jobs.
The four regions support tens of thousands of mining, power industry and service jobs, according to the IGBCE union. The companies that are most likely to be affected include RWE AG, which owns mining and power plants in the western state of North-Rhine Westphalia, and LEAG, which is the main lignite operator in eastern Germany.
Power prices have been rising this year across Europe along with the cost of coal, natural gas and carbon-emissions credits.
RWE and LEAG have said the cost of Germany’s energy transition can be limited if the government allows market forces to determine the timing of when the last coal plant should shut. The two have lignite mining licenses stretching into the middle of the century and want to preserve those assets.
Allowing the carbon market to guide Germany’s shift away from coal might allow them to keep operating for years or even decades.
Source: Bloomberg
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Monday, 17 September 18
SMALL PERCENTAGE OF THE WORLD FLEET WILL FIT SCRUBBERS - FORECASTS : METTE KRONHOLM FRAENDE
In recent months, there have been numerous reports of a strong pick-up in demand for scrubbers. On 1 January 2020, however, the number of ships fit ...
Saturday, 15 September 18
POWERING SUSTAINABLE DEVELOPMENT WITH LOW EMISSION COAL TECHNOLOGIES - WCA
In its 5th Strategic Energy Plan this year (2018), the Japanese Cabinet recognised coal as an important energy resource, necessary for the country& ...
Friday, 14 September 18
10 YEARS ON FROM LEHMAN, HOW IS SHIPPING'S "HANGOVER"? - CLARKSONS RESEARCH
On 15th September 2008, the collapse of Lehman Brothers crystallised the financial crisis and the onset the worst economic downturn for a century. ...
Thursday, 13 September 18
OPEC SEES SLOWER 2019 OIL DEMAND GROWTH, WARNS ON ECONOMY
Crude Oil Price Movements
In August, the OPEC Reference Basket declined by $1.01 m-o-m, settling at $72.26/b. Crude oil futures were also down ...
Thursday, 13 September 18
SUPRAMAX: INDO-INDIA COAL RUN WAS FIXED CLOSE TO $16000 ON ULTRA - FEARNLEYS
Capesize
Rates took a further drop in the beginning of the week, to later find a floor around mid-week reaching mid USD 7 level for c5 and just ...
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Showing 1616 to 1620 news of total 6871 |
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Indian Energy Exchange, India
- Planning Commission, India
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Marubeni Corporation - India
- White Energy Company Limited
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
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