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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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Tuesday, 02 June 20
THE HISTORIC DECLINE OF US COAL - WOOD MACKENZIE
The first commercial power plant in the US was Thomas Edison’s coal-fired Pearl Street station in lower Manhattan, which started operating in ...
Tuesday, 02 June 20
COAL INDIA'S MAY SALES DRIVEN SHARPLY LOWER BY SLUMP IN POWER DEMAND - REUTER
Coal India’s sales fell 23.3% in May as utilities refrained from purchases amid record stockpiles and tepid demand because of a nationwide lo ...
Tuesday, 02 June 20
TUAH TURANGGA AGUNG RECORDED 4.54 MILLION TONS OF COAL SALES IN THE FIRST FOUR MONTHS OF 2020
PT United Tractors Tbk through its subsidiary, PT Tuah Turangga Agung recorded 4.54 million tons of coal sales in the first four months of 2020, up ...
Tuesday, 02 June 20
SOURING SINO-AUSTRALIA TRADE RELATIONS - BALTIC EXCHANGE
Cooling relations between the commodity powerhouses of China and Australia may point to trade troubles ahead when the world emerges from the Covid- ...
Tuesday, 02 June 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.86 PCT - XINHUA
China Taiyuan coal transaction price index stood at 123.95 points Monday, down 0.86 percent week on week.
The index, released by Chi ...
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- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
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