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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, 12 June 24
CHINA ACCOUNTS FOR 16.3% OF AUSTRALIA'S COAL EXPORTS, FOLLOWED BY INDIA 14.4% - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels says Banchero Costa in its latest report.
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Wednesday, 12 June 24
LNG NEWBUILDING VALUES AT RECORD HIGH: 78 NEWBUILD ORDERS PLACED IN 2024, DOUBLING 2023 - VESON NAUTICAL
The number of LNG newbuilding orders have more than doubled from the same period last year where 34 orders were placed, compared to 78 in the first ...
Monday, 10 June 24
CHINA'S MAY COAL IMPORTS RISE 11% ON LOWER DOMESTIC OUTPUT - REUTERS
China’s imports of coal rose 11% in May from a year earlier, customs data and Reuters records showed on Friday, as lower domestic output this ...
Tuesday, 04 June 24
HOW DO WESTERN SANCTIONS ON RUSSIA IMPACT THE GLOBAL METALS, MINING AND COAL MARKETS - WOOD MACKENZIE
The geopolitical landscape for Russia, as a major supplier of various commodities, has undergone a dramatic transformation since the invasion of Uk ...
Friday, 22 March 24
CASE STUDY: DANGERS OF COAL CARGO - SKULD
Recently, a bulk cargo vessel carrying coal from South Africa to Singapore suffered a fatal accident, resulting in the deaths of three crew members ...
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Showing 21 to 25 news of total 6871 |
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- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Minerals Council of Australia
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
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