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Friday, 20 March 15
HARD COAL MARKET 2014: DESPITE THE ENERGY TURNAROUND, HARD COAL IMPORTS TO GERMANY RISE BY MORE THAN 6% (PART 1)
 Hard Coal Market 2014: Despite The Energy Turnaround, Hard Coal Imports To Germany Rise By More Than 6%, Although Hard Coal-Fired Power Generation Declines (Part 1)
The German Coal Importer Association (VDKi) has prepared the initial consolidated estimates for the global, European and German hard coal market for all of 2014. Although the growth of production globally stagnated with around 7.2bn tonnes, the seaborne trade growth increased by 5% compared to 2013. Hard coal imports to Germany reached an all-time high at 56m tonnes.
World output
The VDKi estimates that global hard coal production last year (7.2bn tonnes) remained at the level of 2013. The most important factors:
- Slowing economic growth and weakened growth in the demand for electric power in Asia, especially in China;
- Newly introduced regulations implemented in China, prompted by environmental protection concerns, prohibiting the burning of low-calorific coal with high ash and sulphur content, especially in densely populated urban areas;
- Accelerating replacement of coal in the USA with low-priced shale gas for power generation and environmental protection regulations for power plants, which caused early closures;
- Reduction of overcapacities in the form of mine shutdowns, temporarily shut down of mines or cutbacks in production in hard coal mining owing to low world market prices and the cancellation or slower development of new coal projects, e.g. in Australia or the USA;
- Regulatory interventions in coal mining, e.g. in Indonesia.
However, there were differences in the way the industry developed in the various countries.
- For the first time since 1998, China produced less coal, a decline of 2.5%. With a total output of 3.87bn tonnes about 90m to 100m tonnes less hard coal was extracted. Moreover, hard coal imports to China fell by 36m tonnes (11%) to 292m tonnes. Coal quality requirements concerning ash and sulphur content in coal used for power generation as well as calorific values were introduced to reduce air pollution in 2014. Inner Mongolia alone, China’s second-largest coal region, therefore reduced output compared to 2013 by 86m tonnes (almost 12%) to 908m tonnes in 2014, while the two other coal regions (Shanxi and Shaanxi) increased production by 1.5% and 3.6% to 977m tonnes and 511m tonnes, respectively.
- India will probably not reach its hard coal production target. The largest state mining company, Coal India Ltd. (CIL), reported that output in the 11 months from April 2013 to February 2014 (the fiscal year in India starts on 1st of April and ends 31st of March the following year) of 437m tonnes was about 3% below the target of 450m tonnes for this period.
- In the USA, output in many mines was throttled, especially in 2013, while other mines were shut down completely. The greater use of coal in place of gas for power generation resulted solely from the cold weather conditions in January and February 2014 and the explosion in gas prices which resulted. The U.S. Energy Information Administration (EIA) estimates that coal production in 2014 rose again slightly by 17,2m tonnes to 904 m tonnes in comparison with 2013, and coal consumption for power generation fell only slightly by 6,4m tonnes (0.8%) over the previous year.
- In Australia, only a few mines were closed while new projects were postponed; however, cost cutbacks and, in some cases, production increases using the same level of personnel and equipment were initiated everywhere. Estimates by the Australian Ministry of Industry (Resources and Energy Quarterly, December 2014) indicate that there was an increase in coking coal production of 4.7% to 189m tonnes and in steam coal production of 2.1% to 250m tonnes.
- In Indonesia, production of hard, including low-calorific (sub-bituminous) coal, declined in 2014 for the first time in many years by 3.5% to about 407m tonnes. The most important reasons for this decline are the increase in royalties for certain mining companies, the low price level (which prompted some mining companies to reduce output) and the introduction of an export licence system in October 2014. Many companies exporting hard coal were unable to obtain the licence early enough because of bureaucratic requirements and were therefore not able to export coal. A contrary effect came from the devaluation of the Indonesian rupiah in relation to the US dollar and falling diesel prices that favoured production because the largest expenditures for coal production must be paid in domestic currency.
- Other countries such as South Africa, Colombia and especially Russia were also able to compensate for declining world market prices by the devaluation of the domestic currency against the US dollar and could even increase their competitiveness because they paid their major expenditures for coal production in domestic currency while receiving payment for the exported coal in US dollars.
As a consequence, the following countries increased their output in 2014 over the comparable period of the previous year:
- South Africa to presumably 265m tonnes (= +3.6%),
- Colombia to 75m tonnes (= about +2%) and
- Russia to 356m tonnes (= +2.6%)
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Friday, 06 September 24
REBOUND IN OIL DEMAND COULD LIFT MARKET IN LATTER HALF OF 2024 - BIMCO
Supply/demand
Based on a strong second half demand, the supply/balance is forecast to strengthen in 2024 but weaken slightly in 2025 as n ...
Friday, 06 September 24
GLOBAL SEABORNE LNG TRADE HAS CONTINUED TO INCREASE LAST YEAR - BANCHERO COSTA
Global seaborne LNG trade has continued to increase last year, helped also by the events in Ukraine which forced Europe to diversify away from Russ ...
Wednesday, 28 August 24
SEABORNE COAL IMPORTS INTO INDIA INCREASED BY +9.9% Y-O-Y TO 146.6 MLN T - BANCHERO COSTA
Global coal trade has really picked up pace over the past year, and is now fully back to pre-Covid levels said Banchero Costa Research in its lates ...
Tuesday, 06 August 24
EXERCISE CAUTION WITH AMMONIA SWITCH - BALTIC EXCHANGE
A new study from the Massachusetts Institute of Technology (MIT) has thrown a spanner into the plan to transition ships from diesel fuel to ammonia ...
Friday, 02 August 24
ENERGY MARKET DEVELOPMENTS: COAL AND NATURAL GAS PRICES REACH RECORD HIGHS - WORLD BANK
The recent surge in natural gas and coal prices has been so swift that the main benchmarks were roughly three times higher in 2022Q2 compared to a ...
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- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Videocon Industries ltd - India
- Australian Coal Association
- Posco Energy - South Korea
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- The University of Queensland
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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