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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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Friday, 02 August 24
COAL MARKET DEVELOPMENTS: FALLING PRICES AMID RECORD-HIGH OUTPUT - WORLD BANK
Coal prices inched up in May (m/m) following an 8 percent decline in 2024Q1. The Australian and South African benchmarks have plummeted more ...
Friday, 26 July 24
FUELEU MARITME IS COMING. IS YOUR CHARTERPARTY READY? - GARD
With less than six months to implementation of FuelEU Maritime in EU and EEA trades, there has been little published advice regarding how to alloca ...
Thursday, 04 July 24
INDIA'S COAL PRODUCTION RISES 14% IN JUNE - PTI
The country’s coal production rose by 14.49% to 84.63 million tonne (MT) in June. The country’s coal output was 73.92 MT in June last f ...
Tuesday, 02 July 24
NTPC CAPTIVE COAL OUTPUT GROWS 15% IN Q1; DESPATCH RISES 17%
State-owned NTPC on Monday reported a 15 per cent year-on-year increase in the production of coal from captives mines to 9.862 metric million tonne ...
Friday, 28 June 24
KOSPO INVITED BIDS FOR 400,000 MT OF MINIMUM 4000 NCV COAL FOR FIVE YEARS
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for total 400,000 MT of Low Calorific Value Coal for 5 years starting from July 2024 until ...
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Showing 6 to 10 news of total 6871 |
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- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- The University of Queensland
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
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