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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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Thursday, 14 May 20
NEW COVID-19 GUIDELINES FOCUS ON SAFE INTERFACE BETWEEN SHIP AND SHORE STAFF - GARD
At a time when the COVID-19 pandemic is affecting the global population, it is important that ships’ crew and port workers protect each other ...
Wednesday, 13 May 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.4 PCT - XINHUA
China Taiyuan coal transaction price index stood at 124.93 points Monday, down 0.4 percent week on week.
The index, released by Chin ...
Tuesday, 12 May 20
IN THE FIRST 4 MONTHS OF 2020, SOUTH KOREA IMPORTED 46.6 MLN TONNES OF CRUDE OIL BY SEA, A NET DECLINE OF 14.1% YOY - BC
South Korea is certainly one of the countries which has handled better the current Covid-19 crisis. In the first week of May 2020, new cases of ...
Tuesday, 12 May 20
OIL MARKET TURBULENCE PIVOTS FOCUS ON FLOATING STORAGE TECHNICAL NEEDS - LLOYD'S REGISTER
KNOWLEDGE TO ELEVATE
Negative oil prices and off-the-scale volatility in crude markets are positive for floating storage, as the next chapter ...
Tuesday, 12 May 20
A GLOBAL ECONOMIC RESTART HAS SLOWLY BEGUN AS COUNTRIES AROUND THE WORLD GRADUALLY - ALLIED
A global economic restart has slowly begun as countries around the world gradually set their return back to “normality”. Yet by all mea ...
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- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Planning Commission, India
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
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