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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, 28 June 24
INDIAN POWER STATIONS STOCKED WITH BUMPER COAL SUPPLY AS TRANSPORT WOES EASE - BUSINESS STANDARD
Even as power demand has touched a historic high of 250 gigawatts (Gw) amid sweltering heat this June, India’s power stations are stocked wit ...
Friday, 28 June 24
INDIA'S CY23 COAL USE LARGER THAN NORTH AMERICA, EUROPE COMBINED - THE HINDU
For the first time, India’s coal consumption surpassed that of North America and Europe combined in the calendar year 2023, said Energy Insti ...
Monday, 24 June 24
PLN'S FINANCIAL SUSTAINABILITY RESTS ON ACCELERATED COAL RETIREMENT AND RENEWABLES DEPLOYMENT - MUTYA YUSTIKA
On 28 May 2024, Indonesia’s national electricity utility, PT Perusahaan Listrik Negara (PLN), released its financial report for 2023. Althoug ...
Monday, 24 June 24
INDIA'S COAL-BASED POWER DEMAND AT ALL-TIME HIGH, GOVERNMENT SAYS - REUTERS
India’s demand for coal-based power has risen by 7.3% this fiscal year to an all-time high, the government said in a statement on Wednesday.
...
Monday, 24 June 24
CHINA'S COAL INDUSTRY TURNS GREENER THROUGH INNOVATIVE APPROACHES - PEOPLE'S DAILY
At an opencast mine operated by Inner Mongolia Pingzhuang Coal Group Co. Ltd., a subsidiary of CHN Energy Investment Group (CHN Energy), a 14-meter ...
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Showing 11 to 15 news of total 6871 |
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- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- The University of Queensland
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