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