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