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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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Saturday, 04 July 09
S. AFRICA'S RICHARDS BAY TO CAP NEW COAL VOLUMES, MININGMX SAYS
South Africa’s Richards Bay Coal Terminal is proposing restrictions on the quotas it awards to coal exporters from the so-called Phase 5 expansi ...
Saturday, 04 July 09
DALRYMPLE BAY COAL TERMINAL EXPANSION COMPLETE
BABCOCK & Brown Infrastructure has completed expansion of the Dalrymple Bay Coal Terminal (DBCT) near Mackay, Queensland.
The terminal is now ...
Friday, 03 July 09
CHINA SHENHUA TO DOUBLE COAL CAPACITY BY 2014-PAPER
China Shenhua Energy Co Ltd plans to double its annual coal production capacity by 2014 from this year's level, the China Securities Journal report ...
Friday, 03 July 09
UKRAINE CUTS COAL PRODUCTION 9.3 PERCENT IN H1
Ukraine reduced coal production approximately 9.3%, or by 3.673 million tonnes, to 35.879 million tonnes in the first half of 2009 compared to the s ...
Thursday, 02 July 09
PETCOKE BOOMS AS CEMENT MAKERS TRY TO REPLACE COAL
* Cement makers led by Asia chase petcoke to replace coal
* Petcoke prices up $10/T Feb-Jun, set to rise further
* Domestic U.S. petcoke demand ma ...
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- Commonwealth Bank - Australia
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
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- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
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- Petron Corporation, Philippines
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- Billiton Holdings Pty Ltd - Australia
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- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Central Electricity Authority - India
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- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
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- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- The University of Queensland
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
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