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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, 23 February 24
STRONG OUTLOOK FOR THE TANKER MARKET IN 2024 AND BEYOND - DNV
Several factors have aligned over the past two years to create a robust and profitable market for tanker owners, which is expected to drive newbuil ...
Friday, 23 February 24
AUSTRALIAN COAL FLOWS TO ASIA HOVER ABOVE LAST YEAR’S VOLUME TONNES - SIGNAL GROUP
In the final days of February, the dry bulk freight market appeared to maintain a relatively stable momentum, particularly evident in the large ves ...
Friday, 23 February 24
RUSSIAN COAL SHIPMENTS FALL 14% AS SANCTIONS BITE - BIMCO
During the first seven weeks of 2024, Russian coal shipments have fallen 14% y/y. Volumes have gradually declined since October 2023 when logistica ...
Thursday, 22 February 24
BIMCO PUBLISHES SHIP FINANCING FORMS TO ENSURE UNINTERRUPTED USE OF SHIPS
BIMCO has published two standard Quiet Enjoyment Letters (QELs), the first standard form QELs available to the industry, to offer a tool that can e ...
Monday, 19 February 24
METALS INVESTMENT: THE DARKEST HOUR IS JUST BEFORE THE DAWN - WOOD MACKENZIE
Things often seem at their worst just before they get better. In terms of meeting our net zero 2050 scenario, we’ve reached a watershed momen ...
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Showing 31 to 35 news of total 6871 |
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- ASAPP Information Group - India
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Bharathi Cement Corporation - India
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