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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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- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Parliament of New Zealand
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- MS Steel International - UAE
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- The University of Queensland
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Planning Commission, India
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
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