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Saturday, 05 September 20
POLISH COAL DEMAND EXPECTED TO FALL BY 7 MLN TONNES NEXT YEAR: MINISTER - REUTERS
 Poland’s demand for coal is expected to fall by around 7 million tonnes next year, or more than 10% of annual hard coal production, after a drop in demand for electricity, Deputy Minister of State Assets Artur Sobon said on Friday.
Poland generates most of its electricity from burning coal, which has become costly due to rising prices of carbon emission permits. The industry has also struggled with falling demand for coal, which accelerated during the COVID-19 lockdown because the country used less power.
“The situation in coal mining is not easy … We have a fall in electricity production and a fall in production of electricity from coal. We should expect that this is a sustained trend,” Sobon said during a discussion panel on energy transformation during the European Economic Congress in Katowice, the heart of Poland’s coal region.
He said data provided by power stations showed that next year demand for coal would likely shrink by around 7 million tonnes.
Speaking at the same panel, Tomasz Rogala, chief executive at Poland’s biggest coal producer, state-run PGG, said the group had to adjust its output to the demand from Polish utilities, as it would not find new markets for its products.
PGG produces around 30 million tonnes of coal a year, but its output is expected to drop this year due to falling demand and the COVID-19 pandemic.
The company’s management prepared a restructuring plan, which assumed the closure of two of its coal mines, but the proposal was rejected by the trade unions in July. Since then, the government, PGG and unions have been working on a new restructuring scheme.
“The biggest challenge today is to design this change in such a way that it is as acceptable as possible,” Rogala said, adding that figures reflecting the market trends could not be ignored.
Source: Reuters (Reporting by Agnieszka Barteczko; Editing by Mark Potter)
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Wednesday, 24 March 21
MARKET INSIGHT - INTERMODAL
Since the start of the pandemic, the shipping industry has efficiently responded to ensure the continuity of operations and hence the security of s ...
Tuesday, 23 March 21
LOWER WHOLESALE PRICES PUT PRESSURE ON AUSTRALIAN ENERGY RETAILERS - FITCH RATINGS
Fitch Ratings expects the low wholesale energy prices in the Australian National Energy Market to persist through to 2022, which will affect electr ...
Tuesday, 23 March 21
SCRUBBER-FITTED SHIPS NEARLY DOUBLE AS FUEL SPREAD SETTLES AT $118 PER MT - PETER SAND
As the lion’s share of the world fleet replaced high-sulphur fuel oil (HSFO) with low-sulphur fuel oil (LFSO) as a mean of propulsion to be c ...
Tuesday, 23 March 21
CHINA'S COAL OUTPUT EDGES UP IN FIRST TWO MONTHS - XINHUA
China’s raw coal output rose 25 percent year on year to 620 million tonnes in the first two months of 2021, official data showed.
...
Wednesday, 17 March 21
MARKET INSIGHT - INTERMODAL
Shipping market players are familiar with the inverse correlation between the freight market and demolition activity i.e. when the market picks up ...
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