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Tuesday, 10 September 13
WORLDWIDE COAL CONSUMPTION RISES SHARPLY - RA DR. ERICH SCHMITZ
 By: RA Dr. Erich Schmitz, Verein der Kohlenimporteure (Germany Coal Importers Association)
World hard coal market in the first half of 2013: worldwide production and world trade stagnating, imports to Europe and Germany rise in HY1 2013 despite the massive expansion in renewable energies.
Energy consumption worldwide increases only slightly – in contrast, coal consumption rises sharply.
According to initial calculations by BP in the Statistical Review of World Energy, June 2013, world energy consumption in 2012 experienced a below-average rise of 358m TCE to 17.8bn TCE (about 2%) in comparison with 2011; initial estimates of the World Energy Council for 2012 show a rise of 420m TCE (2.20%) to 19.1bn TCE, taking renewable energies into account. This modest growth is a consequence of the global economic stagnation which has had an impact on the OECD region above all.
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The Asian-Pacific region, where the increase was 4.70%, continues to be a region of growth in primary energy. Worldwide oil consumption of 4,130m tonnes rose only slightly (+1.20%). For the fifth year in succession, the EU 27 countries and the USA reduced their consumption of primary energy, by just under 1% and 2.50%, respectively. Russia ’s energy consumption , on the other hand, remained virtually unchanged.
The rise in the world consumption of primary energy is largely a consequence of the increase in hard coal consumption by about 3.30% and in gas consumption by 2.40% related to the shale gas boom in the USA. In view of the slower economic growth in China, India and other South-east Asian countries and a recession in many OECD countries, the VDKi expects stagnation in primary energy consumption and consequently in coal consumption as well for 2013.
China especially will play a key role here because this country accounts for more than 50% of worldwide coal consumption and worldwide coal production. According to data from the national coal association in China, the consumption of steam and coking coal in HY1 2013 in China amounted to 1.93bn tonnes, corresponding to an increase of only 1% in comparison with 2012, but 7.60% less than during the comparable period of 2011.
On the other hand, production of 1.79bn tonnes during the first six months represented a decline by 3.7% in comparison with HY1 2012. Presumably the high inventories, which according to newspaper reports still amounted in all of China to about 300m tonnes at the end of June, have been reduced.
Seaborne hard coal trade (steam coal only) continues at the level of the previous year (410m tonnes) according to calculations of the VDKi. However, there have been shifts among the exporting nations: Indonesia (+26m tonnes) and Australia (over +10m tonnes) have increased their exports while Colombia (-5m tonnes owing to strikes and logistic restrictions at the beginning of the year), South Africa (almost -3m tonnes) and Russia (-1m tonnes) have exported less steam coal.
The background for the rise in exports from Indonesia and Australia could be China’s announcement that it will in the future prohibit the import of hard coal of lower quality (calorific values, sulphur or ash content) from Indonesia and Australia in particular. This may have led to early deliveries in fulfillment of contractual purchase obligations in existing contracts. According to data from IHS McCloskey Coal Report, China imported about 15m tonnes more coal (hard coal and lignite) during HY1 than in 2012.
Europe and Germany
A slight, but steady, increase in coal consumption in the European Union, especially in the United Kingdom, France and Spain, has been observed in the last two years. Declining hard coal output in Germany, Spain and Poland is being compensated by increased imports.
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The long winter in Europe and the favorable clean dark spread (costs for coal, freight and CO2 certificates), which has been lower in comparison with the clean spark spread (costs for gas, transport and CO2 certificates) for some time, encourage coal-fired power generation in Europe. The electricity is frequently exported to countries strongly dependent on gas such as the United Kingdom or Holland.
According to a report on the European electricity market in Q2 2013 from the EU Commission, the electricity prices for the base load in Q2 fell significantly (weighted for volume , from € 46/MW h in March 2013 to €30/MW h in June 2013 ).
Since coal prices continued to fall as well and the CO2 prices remained low, this meant, according to data from the DG Energy of the EU Commission, that the share of solid fuels for power generation exceeded 50%, which is a higher figure than that of 2012 (45 %). However, the clean dark spread decline d to €4 /MW h; in the two previous quarters, it had still been in the two-digit range. All of this took place against the backdrop of the rising share of renewable energies; production from these sources was high in Q2 and, according to data from the EU, led for instance to negative power prices below -€100 /MW h in Germany and Belgium an d be low -€ 200 /MW h in France on 16 June of this year.
Power generation from gas-fired power plants consequently declined sharply as well because the high gas prices make it unprofitable. EU data show that the clean spark spread fell to below -€19.50 /MW h.
Hard coal imports to Germany rose by 3.4m tonnes (15%) to 25.7m tonnes in the first six months. Extrapolated for all of 2013, this would mean that for the first time since 1957 more than 50m tonnes of hard coal would be imported to Germany. The managing director of the Coal Importer Association, Dr Erich Schmitz, commented on this development: “Of course we would be absolutely delighted by such a high volume of coal imports. However, we must not allow ourselves to be misled about two essential points:
1. The decline in German hard coal mining is making itself felt more and more strongly because it is being compensated by increased imports.
2. If the low electricity wholesale prices resulting from the non-competitive inclusion of the priority feed-in of renewable energies, especially from solar parks, continue, they will constitute a massive threat to the economic existence of hard coal-fired power plants. They can no longer market their electricity profitably on the German market at these prices and profit solely from the export of electricity to countries dominated by power generation from gas-fire d power plants."
This has led the VDKi to affirm its call for a fundamental reform of the compensation for power from renewable sources and for a capacity market for new and existing power plants of all kinds, oriented to a free market and non-discriminatory, immediately after the national election in Germany.
“Otherwise, ” notes Schmitz, “there will be a flood of notifications of shut-downs of older coal- and gas-fired power plants to the Federal Network Agency which could result in a substantial risk for the security of power supply in Germany in 1 to 2 years.”
-Power generation from hard coal-fired power plants in Germany rose by an estimated 5 TWh to about 65 TWh.
-According to data from the AGEB, hard coal consumption for power generation rose by 8.5% to 21.8 million TCE.
-According to data from the AGEB, gross power export rose by 8.4% in comparison with the same period of the previous year to 35.96 TWh; less imports, there is still an export surplus of 15.4 TWh, generated primarily in hard coal-fired power plants.
Source: Verein der Kohlenimporteure (Germany Coal Importers Association)
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Thursday, 09 November 23
GREEK AND CHINESE COMPANIES OWN 34% OF THE GLOBAL FLEET’S CARGO CAPACITY - BIMCO
“The global fleet of cargo carrying ships consists of around 61,000 ships with a deadweight capacity of about 2,200 million tonnes. The ships ...
Monday, 23 October 23
CHINA SEPT COAL OUTPUT HITS SIX-MONTH HIGH ON RISING POWER DEMAND - REUTERS
China’s September coal output rose 0.4% from August to the highest level since March, official data showed on Wednesday, on rising power dema ...
Monday, 23 October 23
INDIA COAL INVENTORIES DROP AT FASTEST PACE IN TWO YEARS, BOOSTING IMPORTS - REUTERS
Coal inventories at Indian power plants in the first half of October fell at their fastest rate in two years, an analysis of government data showed ...
Tuesday, 19 September 23
LNG SHIPPING STOCKS: THE ASIAN GROWTH UP-INDICES
Last week, the UP World LNG Shipping Index (UPI) gained 3.81 points or 2.51%, closing at 155.85 points. This index tracks the performance of LNG sh ...
Sunday, 10 September 23
GOLDMAN SACHS PREDICTS OIL PRICE TO HIT $100 ON OPEC CUTS - YAHOO FINANCE
Oil supply cuts by Saudi Arabia and Russia could lead to Brent crude jumping as high as $107 a barrel in 2024, Goldman Sachs Commodities Research h ...
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- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Australian Coal Association
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
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