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