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Wednesday, 26 August 20
JAPAN'S COAL IMPORTS ARE BEING AFFECTED BY COMPETING INFLUENCES - REPORT
Japan is the world’s third largest thermal coal importer, importing an estimated 135 million tonnes of thermal coal in 2019. The country’s thermal coal imports were broadly stable year-on-year in the four months to April. Japan’s imports are forecast to decline by around 2 million tonnes to 133 million tonnes in 2020. Low LNG prices and subdued energy demand due to COVID-19 should weigh on thermal coal imports. However, imports should also receive support from the shutdown of a number of nuclear power plants (which compete with thermal coal in electricity generation) that need to finish upgrades to comply with counter terrorism measures said Office of the Chief Economist’ of Australia in its Resources and Energy Quarterly June 2020 report in early July 2020.
Beyond 2020, according to report, there are competing trends at work. Japan has new coal-fired capacity under construction. However, energy demand in Japan is on a downward trend, and Japan is planning to shift its power generation mix towards nuclear and renewable energy, and away from gas and coal. The 2011 Fukushima disaster resulted in the closure of Japan’s nuclear fleet. At the time of writing, only nine of Japan’s 42 nuclear reactors had gained approval to restart. More reactors are likely to come back online by 2022, with 18 reactors having submitted applications to Japan’s Nuclear Regulation Authority to restart. The pace of nuclear restarts is the main uncertainty affecting the outlook for Japan’s thermal coal imports. Nuclear energy in Japan continues to face public opposition and legal challenges. There remain significant risks of delays and slippages in nuclear restarts.
South Korea’s imports to decline as energy transition accelerates
The report noted that, South Korea is the world’s fourth largest thermal coal importer, purchasing an estimated 99 million tonnes of thermal coal in 2019. South Korea’s thermal coal imports fell steeply year-on-year in the four months to April 2020, down around 20 per cent, as COVID-19 affected power demand and the country scaled up its temporary closure of coal-fired power stations to curb air pollution. Over the past few years, the South Korean government has introduced regulations that require coal-fired power stations in South Korea to shut down or operate at reduced capacity during certain periods of the year, particularly over winter, or when air pollution reaches certain thresholds. South Korea’s government has also introduced new tax arrangements aimed at encouraging the use of gas over coal. South Korea’s thermal coal imports are forecast to fall to 93 million tonnes in 2020. In 2021 and 2022, South Korea’s imports are forecast to remain broadly stable at around 93 million tonnes, with increasing power demand offset by the impact of policies to reduce coal use. South Korea’s long-term plan is to shift its energy mix towards renewables and gas, and away from nuclear and coal. Under South Korea’s energy plan, no new coal-fired power or nuclear capacity will be added, aside from that already under construction.
Under South Korea’s draft 2020-2034 energy plan, the current target of 36 per cent for coal’s share of power generation in 2034 would be cut to 15 per cent. Taiwan’s imports to decline under national energy plan Taiwan’s thermal coal imports were broadly steady in 2019, at an estimated 58 million tonnes.
Power demand in Taiwan was resilient to the impacts of COVID-19 in early 2020, thermal coal imports have declined year-on-year due to the government’s energy transition policies. Thermal coal imports are expected to decline in 2020, falling to 55 million tonnes. In 2021 and 2022, Taiwan’s thermal coal imports are expected to decline slightly further. Taiwan is aiming to shift its power generation mix towards gas and renewables, and away from nuclear and coal. Under Taiwan’s current energy plan, coal’s share of power generation would fall from 46 per cent at present to 27 per cent in 2025. While government policy is expected to reduce Taiwan’s thermal coal imports,
Taiwan does face challenges in achieving a rapid energy transition. Taiwan will need to quickly bring on LNG regasification capacity in order to ramp up LNG imports, and project slippage remains a risk. Taiwan’s energy plan also envisages a 10-fold expansion in solar photovoltaic capacity, but Taiwan is densely populated, and access to land to support the ramp up remains a major challenge. To date, Taiwan’s expansion of offshore wind generation has gone relatively smoothly, with greater government control over offshore development rights.
According to Office of the Chief Economist’ of Australia, Southeast and South Asia to be a key source of import growth In 2019, Southeast and South Asia (excluding India) imported an estimated 153 million tonnes of thermal coal. The largest importers of thermal coal in Southeast Asia were Vietnam, Malaysia, the Philippines and Thailand. In South Asia, Pakistan was the largest thermal coal buyer, followed by Bangladesh. While countries in Southeast and South Asia are relatively small importers individually, collectively, the region is expected to play a substantial role in thermal coal markets going forward.
Resources and Energy Quarterly June 2020 report of Office of the Chief Economist’ of Australia further noted that, the Vietnam’s thermal coal imports appear to have grown strongly in the first five months of 2020, with total coal imports reaching record high levels in April and May, as power demand climbed. The impacts of COVID-19 in early 2020 were more pronounced in a number of other nations in South and South East Asia. Power generators in the Philippines are reportedly expecting to cut coal imports this year, as measures aimed to contain the COVID-19 pandemic reduce power demand. In 2020, Southeast and South Asia’s imports are forecast to decline to 144 million tonnes. After 2020, the thermal coal imports of Southeast and South Asia are expected to increase, reaching 178 million tonnes in 2022.
Economic and population growth is driving the demand for electricity, and coal-fired power generation is expected to play a key role in meeting growing usage. While project cancellations appear to have been rising in recent years, the completion of coal-fired power stations currently under construction is expected to drive the region’s demand for thermal coal imports higher over the next few years. Vietnam is expected to be a key driver of import demand growth. Under Vietnam’s Power Development Plan, coal-fired power will account for 49 per cent of the nation’s electricity generation capacity by 2025. However, there are downside risks to the outlook, with the National Steering Committee for Power Development reportedly recommending that the government scale back the target for coal-fired power to 37 per cent in 2025.
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Saturday, 06 June 20
KOREA SOUTH-EAST POWER CO INVITED COAL BIDS FOR MIN 5600 NCV COAL
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 270,000 Tons (MT) min. 5600 NCV co ...
Friday, 05 June 20
COAL INDIA ESTIMATES PRODUCTION GROWTH BY OVERBURDEN REMOVAL - FINANCIAL EXPRESS
PSU miner Coal India (CIL) has now limited mining only to Overburden Removal (OBR) with falling demand of coal. The mining behemoth is now keeping ...
Friday, 05 June 20
U.S. SANCTIONS COMPLIANCE GUIDANCE RELEASED FOR THE GLOBAL MARITIME, ENERGY AND METALS SECTORS - AKIN GUMP
Key Points
On May 14, 2020, OFAC, the Department of State and the U.S. Coast Guard jointly released guidance for persons involved in the ma ...
Friday, 05 June 20
IN THE FIRST 5 MONTHS OF 2020 AUSTRALIA SHIPPED 6.8 MLN TONNES TO VIETNAM - BANCHERO COSTA
In the first 5 months of 2020, global seaborne coal trade declined by as much as -8% year-on-year, according to vessel tracking data from Ref ...
Thursday, 04 June 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
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- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- The University of Queensland
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Economic Council, Georgia
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- VISA Power Limited - India
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Australian Coal Association
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Planning Commission, India
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- ICICI Bank Limited - India
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