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Wednesday, 08 July 09
GERMAN COAL PRODUCTION DECREASED BY 31% TO ROUND 3.4 MILLION TON IN 1Q 2009 - COAL IMPORTERS ASSOCIATION, HAMBURG
 COALspot.com (Germany):
World Coal Market
According to analysis of VEREIN DER KOHLENIMPORTEURE E.V. , On a quantity basis the steam coal market is further stable, whereas the Asian market is supported by imports from China and India.
In view of the background of weaker industrial activity, the demand for steam coal in the Atlantic area is modest. The fob prices are slightly sinking connected with intensive swings upward and downward. The coking coal market has seen a sharp fall. The contract prices for the period 2009/2010 have declined by 60 % compared to the contract prices 2008 / 2009 and are partially crumbling.
Despite of lesser bulk commodity volume and further rising fleet capacity, the freight rates have considerably increased very recently. Considering the basis data, this upswing is not explainable. The tendency should rather be a lower freight level.
Hard Coal
Imports regarding the imports of hard coal, coking coal and briquettes for the months January to March 2009, the Federal Statistic Office of Germany determined a decrease of the whole imports by 14.6 % to 10,934,068 ton compared to the previous year.
"Energy Prices in 1Q 2009 the BAFA price in average was 91.24 Euro / TCE" German Coal Importers Association
Germany Domestic Coal – 1Q 2009
Due to the closures of the mines Saar, Walsum & Lippe , the German production decreased by 31 % to round 3.4 million t in 1Q 2009 in comparison with the previous year. Extrapolated there might be reached a whole production of 13-14 million ton in 2009.
In 1Q 2009 the coke production decreased by round 20 %. Due to the steel crisis, the coking plant Prosper operates curbed at 70 % and beyond that coke is dumped. The performance per man and shift in the mines declined by 25 %.
This is partly in consequence of the closures of the high efficient mines Ensdorf and Walsum. The sales of German coal fell from 5.8 million ton by 2.5 million t to 3.3 million ton. The biggest part of the decline in sales is due to the slowdown in German industrial production. The stocks rose by 0.6 million ton to 4.3 million ton. Until May 2009 the stocks increased to round 5 million ton.
The difficult sales situation continues. The steel boom and the expected shortages caused the coking coal prices in 2008 to rise to historic record heights. At this time, deductions of 60% are being negotiated, but it remains to be seen whether this price level, which is still high, will be able to stay here in view of the weak demand.Coke prices fell as well. For all practical purposes, the world market for coke collapsed in the first quarter of 2009. Instead of the normal 3 million ton, the world market leader China exported a mere 150,000 ton in the first quarter 2009.
" Nevertheless, the official export prices amount to round US$ 400.00. But in Europe comparable coke is traded at US$ 190.00 " German Coal Importers Association
Freight Rates
Freight rates reached historic record highs in 2008. The freight rate Richards Bay – Rotterdam for Cape size ships rose to US$ 50/ton, only to crash to US$ 5 / ton (–90%) by December 2008.
In the meantime, freight rates have recovered slightly and are again on the rise. However, the overall expectation is that the sinking volume of bulk cargo on the world market and rising fleet capacity will prevent any excessive fluctuations for the moment.
Germany
Germany’s coal market shrank by about 5 million t in 2008. But since domestic output fell by almost 4 million t, imports remained stable. There were virtually no effects on quantities from the steel crisis in 2008.
We expect a substantial decline in imports of 22% for 2009, a consequence of the steel crisis and a lower demand for electric power. While in the past the onus of adapting to collapses in demand fell on German coal production, there will this year, for the first time, be a major blow on import coal, but the great flexibility of the world market means that there will not be any problems adjusting to this situation.
Import prices for steam coal are also falling quickly. Prices fell to €83 t/TCE in March 2009 from the highest value of the border-crossing price (BAFA price) of €136 t/TCE in August 2008. We expect the price to continue to decline to €65-70 t/TCE by the end of 2009.
"As the US dollar is once again showing a weakening tendency, imports in Euros could become cheaper" German Coal Importers Association
Outlook 2009
World coal production in 2009 will continue to increase as a consequence of the great demand for electric power in the Asian region. But this growth will be weaker than in the past. China, India and Indonesia are planning significant increases in output.
World trade in steam coal will presumably remain stable, but the coking coal world market will probably decline by 40–50 million ton or 20% – 25%. The pendulum has swung back to a buyer’s market and will undoubtedly keep pressure on the world market prices for coking coal and steam coal in 2009.
The years 2007 and 2008 were marked by high investment spending in the coal mining industry worldwide. After an estimation of IEA for 2009 a reduction by round 40 % is expected.
Short-term – i.e. in the following 2 – 3 years, the reduced investment activity might not impact the markets. It has also to be concerned, that coal projects in 2 – 5 years and in this way in comparison to crude oil and gas projects – can go into production in the short run.
Analyzed by: KOHLENIMPORTEURE E.V. (Coal Importers Association), Hamburg
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Wednesday, 15 July 09
BANGLADESH TO IMPORT COAL FROM INDIA FOR 1 MORE YR
Bangladesh has decided to import coal from neighbour India for another year to save foreign exchange and time, a commerce ministry official said on ...
Wednesday, 15 July 09
INDONESIAN FIRM SUBMITS LOWEST BID FOR NAPOCOR COAL
ABS-CBN News reported that, An Indonesian firm offered to supply 195,000 tons of thermal coal to top Philippine electricity producer National Power ...
Wednesday, 15 July 09
INDIAN COAL MINISTRY TO CONSIDER POWER PLANT ALTERATION PROPOSALS
PTI reported that the coal ministry has agreed to consider applications of power plants seeking long term coal linkage due to enhancement in electri ...
Wednesday, 15 July 09
SHENHUA STARTS WORK ON INDONESIA POWER PLANT
Bloomberg reported that China Shenhua Guohau Power a unit of China’s biggest coal producer started construction of a power plant and mine in I ...
Wednesday, 15 July 09
PLN OPENS TENDERS FOR SUPPLY OF LOW - GRADE COAL
The Jakarta Globe, a Indonesian new paper reported that, State power utility PT PLN has opened a tender for the supply of low-grade coal for the nat ...
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- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Planning Commission, India
- Economic Council, Georgia
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Mjunction Services Limited - India
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