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Tuesday, 31 January 12
THERE ARE MANY GOOD REASONS FOR COAL IN GERMANY - DR CIESLIK


Dr. Cieslik, Chairman of the board of German Coal Importers AssociationCOALspot.com - "The year 2011 was again marked by many changes on the markets and energy policies, at times in line with expectations, but at other times with unexpected development," said Dr. Cieslik, Chairman of the board of German Coal Importers Association, on the occasion of association's New Year's reception on 20th January 2012 in Hamburg.

According to Dr. Cieslik, coal in Germany as well as in Europe is faced with an increasingly hostile environment during 2011. Internationally, however, the world looks much different for coal. So let us take a look now at the world market for coal.

The World Market for Coal
"The initial overview indicates that worldwide production will remain more or less at the previous level totalling 6.7 billion tonnes. The main reason for this is the loss of production in the coking coal sector in Queensland because of the flooding in this region caused by weather conditions at the beginning of 2011," Chairman said in his speech.

The world seaborne coal market recorded growth in the coking coal sector because of the activity of the steel industry and in the steam coal sector and will probably have risen by about 5% from 963 million to more than 1 billion tonnes.

Despite the banking and financial crisis, the steam coal market continued to grow, although it slowed to some degree. Demand rose on both the Atlantic and Pacific markets, above all from China.

There was also growth in the coking coal market, which rose by 22 million tonnes or almost 9% to 242 million tonnes. The lower demand on the Pacific market was a small surprise, but it was more than compensated by the significance increase in Atlantic demand, chairman highlighted in his speech.

The price level for steam coal remained stable at a high level in 2011, ranging between US$115/t and US$125/t.

The heavy rains and the subsequent flooding in large areas of Queensland in Australia initially caused an explosive price increase on the spot markets, especially for coking coal, to more than US$300/t for coking coal. However, the decline in steel production worldwide caused by economic conditions in the second half of 2011 also repressed the demand for coking coal, leading in turn to pressure forcing prices downward during the last quarter of 2011.

Australian premium coking coal fell to US$230/t.

Freight rates remained in a range of US$10- US$25/t for the benchmark route Richards Bay-Rotterdam during 2011. The market is characterised by overcapacities and the related pressures on prices and competition.

Germany
According to a provisional report from the Arbeitsgemeinschaft Energiebilanzen, primary energy consumption in Germany declined by about 5% to approximately 457 million TCE because of the mild weather conditions.

The consumption of hard coal at just under 57.5 million TCE declined slightly by 0.7% in comparison with the previous year and so was not able to record any significant growth in 2011 following the substantial increase in 2010. A particular cause is the decline in its use for power and heating generation of -2.5%.

There are many good reasons for coal

According to Chairman, there are many good reasons for coal in Germany

1.New facilities such as the hard coal-fired power plants with capacities of 8,400 MW now under construction are being equipped with the best available technology and high standards of efficiency; almost all of them have been designed as large power-heat coupling plants, assuring a very high degree of fuel exploitation.

2.New installations are replacing old power stations with lower degrees of efficiency and, specifically, higher CO2 emissions.

3.New installations are being designed so that they can accommodate CCS systems.

4.Power generation from coal will be needed as a transitional technology for at least the next 30-40 years, not least to compensate for fluctuations in the feed-in from renewable energy sources.

5.Coal production is globally spreaded.

Keynote speech by Dr Cieslik, Chairman of the board of German Coal Importers Association, on the occasion of Association's New Year´s Reception on 20th January 2012 in Hamburg.( We published part of Chairman's speech)



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