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Friday, 13 December 13
HARD COAL : VOLUMES POSSIBLY AT RECORD-BREAKING HIGH; PRICES POSSIBLY AT A RECORD-BREAKING LOW - VDKI
 Press Release : World Hard Coal Market 2013: volumes possibly at record-breaking high, prices possibly at a record-breaking low. German and UK imports are up. The VDKi welcomes the coalition agreement on the energy turnaround as a step in the right direction.
Verein der Kohlenimporteure e.V. (VDKi) has submitted its initial estimates for the world hard coal market and the German and European hard coal import market for the whole of 2013, based on a data analysis up to the end of October 2013.
World economic growth has slowed in 2013, but trading in coal has continued to increase.
Year-on-year world economic growth has slowed down again. According to the latest announcements by the International Monetary Fund (IMF), the economy has grown year-on-year by 2.9% in real terms. This is 0.3% less than in the previous year. In the euro zone, growth in gross domestic product (GDP) fell in the same period from 2.8% to 1.6%. The industrialised countries of Germany and France accounting positively for 0.5% and the latter for 0.2% of increase, whilst Italian, Dutch and Spanish GDP growth fell by 1.8% and 1.3% respectively.
The growth in hard coal output (coking coal and steam coal) has lost impetus and will not increase by more than 2–3% worldwide by the end of the year. China in particular has reduced hard coal output, whilst coking coal production in Australia and steam coal production in Indonesia and Russia have expanded, sometimes considerably.
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The seaborne hard coal trade (steam coal only) will peak at around 850 million tonnes, according to VDKi calculations, thus increasing by just 3% and reaching a new high overall. China is primarily responsible for the rise, as it increased its imports from Australia and Indonesia in the first half of the year, due to the favourable prices on the world market. Its imports during the first six months were thus up 10% year-on-year. However, economic growth slowed in the second half of the year and an import tax was imposed on low-calorific brown coal. The effect of this cannot yet be estimated, but the VDKi is assuming that China’s steam coal imports will exceed the previous year’s level in 2013.
However, there were major shifts among exporting nations. In all likelihood, the following countries will be able to increase their exports as follows:
- Indonesia by +30 million tonnes or about 12%, to a total of 330–340 million tonnes;
- Australia by about +20 million tonnes or 11% to 180–190 million tonnes, and:
- Russia by 5 million tonnes or about 5% to 114 million tonnes.
In contrast, exports of steam coal from Columbia will fall by 5 million tonnes, due to strikes at various mines and logistical restrictions at the beginning of the year, from South Africa by 3 million tonnes and from the USA by 4 million tonnes.
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Europe and Germany
A slight increase in coal imports in the EU has been perceptible in the last two years, particularly in the UK, Italy, Spain and Germany. Falling hard coal production in Germany, Spain and England has been compensated by an increase in imports. Spain will import about 6 million tonnes less steam coal in 2013, due to increased electricity generation from renewables and the weak economy. Italy will return to the 2012 level.
The long winter in Europe and the lower clean dark spread (costs of coal, freight and CO2 certificates), which has long worked in favour of power generation from coal to a greater or lesser extent, in comparison with the clean spark spread (costs for gas, transport and CO2 certificates) encourages power generation from coal in Europe. Electricity is then frequently exported to highly gas-dependent countries such as the UK or the Netherlands. The Bundesverband der Energie- und Wasserwirtschaft (BDEW) correspondingly estimates gross electricity generation in Germany at 635 TWh in 2013 (2012: 628 TWh), with 61.8% coming from conventional sources (previous year 61.5%).
Germany’s electricity exports to its immediate neighbours rose significantly in the first three quarters of 2013. On balance (exports minus imports), 43% more electricity (19.9 million kWh) was exported than in the same period in 2012 (13.9 TWh).
All this took place against a background of a growing proportion of power from renewable sources, which grew from 22.7% to 25.9% during the first three quarters of 2013.
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The VDKi estimates hard coal imports into Germany as follows in 2013:
Hard coal imports into Germany rose by 16% or 5.5 million tonnes to 38.4 million tonnes in the first nine months. Extrapolating this figure for 2013 means that Germany will import more than 50 million tonnes of hard coal this year, with 38 million tonnes destined for power stations, 10 million tonnes for the iron and steel industry and 3 million tonnes for coke. This would be a new record and would confirm the VDKi’s mid-year forecast. Germany imported about 8 million tonnes of steam coal in the third quarter.
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The Energy Balance Working Party (AGEB) estimates hard coal consumption in 2013 as follows:
- A rise of 8.2% in hard coal consumption for electricity generation to 30.5 million TCE;
- A reduction of 5.6% in hard coal consumption by the steel industry, due to the modest economic situation.
Managing Director Dr Erich Schmitz commented:
"The figures prove that modern, highly-efficient hard coal-fired power stations are indispensable for the security of supply within the scope of the energy turnaround and must have a firm place in the future too. However, their cost-effectiveness is under serious threat from the unrelenting expansion of renewables and the resultant distortions on the German wholesale electricity market. The new federal government must find a remedy, if a serious number of power station closures are to be avoided."
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The USA, Russia, Poland and South Africa have increased their exports to Germany. The USA will probably displace Columbia as the second-largest coal exporter after Russia in 2013.
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World market prices generally continued to fall. They reached their current record low of just over US$73/t cif ARA in the middle of the year. A slight price recovery has been evident since September. At the end of November 2013, hard coal price reached about US$84/t cif ARA, but was still 6% below the previous year’s price (US$89.53). The strengthening of the euro against the US dollar produced further pricing advantages in the euro zone. The average price free German frontier (BAFA price) was thus €75.64 TCE or €64.83/t in the third quarter of 2013.
The VDKi regards the power station section of the coalition agreement as a step in the right direction.
Part of the section dealing with energy makes extensive reference to the “new role for conventional power stations”. Hard coal-fired power stations are regarded as an “indispensable part of the energy mix for the foreseeable future”. The VDKi strongly supports the basic heads of agreement under which the market is to retain the necessary capacity in the long term. This includes the development of a capacity mechanism, alongside the further development of a generation reserve using tendering strategies or the short-notice availability of reserve generation capacity under the Reserve Power Station Order. The explicit inclusion of the capacity market in the coalition agreement, to be developed in the medium term, repeatedly demanded by the VDKi, to be configured in accordance with European law, open to technology and not discriminate against any primary energy resource, is a matter of energy industry necessity and places the necessary emphasis on security in the target constellation of a secure, affordable, environmentally- and climate-friendly energy supply.
However, from the point of view of the VDKi, these fundamental positions must now be translated into specific legislative proposals very quickly. The VDKi has done essential research work with its Prognos report and will make a constructive contribution to further discussions about the configuration of capacity markets.
- Verein Der Kohlenimporteure E.V. (Vdki) - Germany Coal Importers Association -
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Wednesday, 31 January 24
CHINA'S INNER MONGOLIA COAL OUTPUT HIT 1.21B TONS IN 2023 - XINHUA
North China’s Inner Mongolia autonomous region churned out 1.21 billion tons of coal in 2023 as it strives to guarantee the country’s e ...
Wednesday, 31 January 24
GAS EXPORTS COST U.S. CONSUMERS MORE THAN $100 BILLION OVER 16-MONTH PERIOD - IEEFA
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Tuesday, 30 January 24
LIMITED DEMAND GROWTH COULD DAMPEN THE DRY BULK MARKET IN THE COMING MONTHS - BIMCO
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Friday, 26 January 24
RED SEA DIVERSIONS ADD NEARLY A MILLION DOLLARS PER VOYAGE TO SHIPPING COSTS WHILE DOUBLING TRANSIT TIME - LSEG
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Friday, 26 January 24
HARD COAL GUARDIAN ANGEL OF THE ENERGY SUPPLY - GERMANY COAL IMPORTERS ASSOCIATION
- No security of supply without hard coal
- The Substitute Power Plant Provision Act (EKBG) must be extended
- Higher grid fees due to the ...
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Showing 46 to 50 news of total 6871 |
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- Parliament of New Zealand
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Planning Commission, India
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
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