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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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Monday, 06 January 14
INDONESIAN COAL SWAPS SLIDE TO $ 61.25 FOR Q4' 14 DELIVERY
COALspot.com – Sub-Bit Indonesia coal swap (FOB) for average Q1’ 14 delivery lost $ 0.32 pmt month on month on Friday 3 January 2014. Th ...
Sunday, 05 January 14
API 8 CFR SOUTH CHINA COAL SWAP FOR Q3 DELIVERY CLOSED $ 80.05, A $ 0.90 LOWER THAN Q1 PRICE
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery lost 1.40 percept day on day closed at US$ 80.95 per mt as o ...
Sunday, 05 January 14
CENTRAL BUREAU OF INVESTIGATION OF INDIA REGISTERS CASES IN CONNECTION WITH ALLEGED SUPPLY OF LOW QUALITY INDONESIAN COAL BY A PRIVATE COMPANY TO NTPC & NSPCL
COALspot.com: The Central Bureau of Investigation of India has registered two cases regarding alleged supply of low quality imported Indonesian coal ...
Saturday, 04 January 14
THE INDONESIAN GOVERNMENT TO DOWNSIZE ITS COAL PRODUCTION TARGET TO 400 MMT THIS YEAR
COALspot.com: Indonesia to downsize its coal production target to 400 million tons in 2014, lower than the production in 2013, which stood at 421 mi ...
Friday, 03 January 14
IN 2013 RBCT HAS, FOR THE FIRST TIME, EXPORTED MORE THAN 70 MILLION TONS OF COAL
COALspot.com: South Africa's Richards Bay coal terminal, the world’s largest single coal exporting terminal shipped 6.788 million tonnes of c ...
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Showing 3926 to 3930 news of total 6871 |
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- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Planning Commission, India
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Economic Council, Georgia
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
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