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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, 27 June 09
HEAVY CONGESTION AT AUSTRALIAN PORTS REACHING ALL TIME HIGH TO 120 SHIPS IN EAST COAST AUSTRALIA - VISTAAR SHIPPING
COALspot.com (Singapore): The market this week was a bit soft and the BDI was down by almost 10 pct and closed at 3,703 points.
The drop in BDI i ...
Friday, 26 June 09
INDONESIA INVESTORS EYE BHP BILLITON COAL PROJECT
About four Indonesian investors are interested in taking over a coal project owned by BHP Billiton Ltd, a senior government mining official said.
...
Friday, 26 June 09
SOUTH AFRICA'S CONSULTING GROUP OPENS OFFICES IN CHINA, INDONESIA
Consulting engineering company SRK Consulting has opened new offices in Asia to cope with the growing demand for its services in the region.
The ...
Friday, 26 June 09
RUSSIA MECHEL TO DELIVER 2 MLN T COKING COAL TO ASIA
Russian steel and coal producer Mechel said on Thursday it had signed contracts to deliver about 2 million tonnes of coking coal concentrate to unna ...
Friday, 26 June 09
SA COAL EXPORTS UNLIKELY TO BREACH 65MT THIS YEAR
Coal volumes railed to South Africa’s Richards Bay Coal Terminal (RBCT) during the rain-affected first quarter of 2009 had fallen well short o ...
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- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Planning Commission, India
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- PTC India Limited - India
- Bhushan Steel Limited - India
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
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