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Tuesday, 21 July 09
FIRST QUARTER COAL MARKET AND EURACOAL'S OUTLOOK FOR THE FUTURE
 Euracoal reports that for the first time in many years, the world market for hard coal fell by some 8 % during the first quarter 2009. This latest Euracoal (http://www.euracoal.org/) report arrived too late for International Mining’s August article on the global coal industry, which is about to be published. Steam coal was 140.1 Mt, down from 140.7 Mt in the first quarter of 2008. The fall in coking coal waxs much more severe, down from 42.6 Mt to 29.9 Mt in 2009. The combined total showed a fall of 13.3 Mt between 2008 and 2009.
Nevertheless, markets behaved differently: whilst the Atlantic steam coal market decreased exports, the Pacific market increased slightly. The Pacific market increased by only 2.2 Mt with Australia being the only exporter increasing sales (+ 6.7 Mt). China (- 2.6 Mt) and Indonesia (- 2.0 Mt) bore the main decreases. On the Atlantic steam coal market, only South Africa (+ 1.3 Mt) and Russia (+ 0.4 Mt) increased exports. The total Atlantic market shrunk by 2.8 Mt.
The coking coal market suffered in the economic crisis and dropped by 30 % during the first quarter 2009. China became a net importer for coking coal. Australia exported 8.1 Mt less than during the first quarter 2008 and the US and Canada also recorded an export decrease. The total coking coal market is expected to decrease by some 40 to 50 Mt for the entire year 2009.
Steam coal prices fob South Africa are currently around $60/t, even though the demand on the Atlantic market stays weak.
Contract prices for coking coal which also reached historic peaks during the 2008 summer are now coming back to normal and the negotiated prices for 2009/2010 are expected to be low. Hard coking coal is currently contracted at $120-125/t, semi-soft coking coal at $80-90/t and low-volatile PCI coal at $75-80/t.
A special situation was observed in China, who became for the first time a net importer. The reason was that for the steel and electricity industries, located near the harbours, it was cheaper to import coal because international coking coal prices are currently lower than Chinese coking coal prices. The Chinese coke market totally collapsed; in April 2009 there were only some 20.000 t of coke exported. After the very high coke prices in summer 2008 the prices collapsed in winter 2008 but are currently again picking up slowly. In March 2009 the coke price fob China was $420/t.
Due to the collapse of the steel industry, Polish coke demand dropped by some 30 %. The demand from Germany and France as well was considerably lower or even cancelled for 2009. The industry nevertheless expects improvements of demand in the second half/end of 2010. Coke production should then even increase again in the following years.
The longer term future of German hard coal depends now, as in the past, on political decisions. According to a legal guideline, the German Bundestag will check before 2012 if the decision to close down in the year 2018 is to be reviewed again or not; this will be determined mainly by the outcome of the Bundestag elections in September 2009. While the Social Democrats and the trade unions together with some of the Christian Democrats are in favour of maintaining a minimum level of indigenous coal production, large numbers of Christian Democrats, Liberals and also Greens in Germany see little reason to go back on the decision to close down.
The UK Government made its long awaited policy announcement on new coal power plant build: any new coal stations must have at least one unit fitted with CCS and the remaining units must be ‘carbon capture ready’. The Government will provide financial support for up to four such CCS projects. A consultation on the financial support mechanism was published in June 2009.
British output is now increasing for the first time in many years. There was an increase for the year 2008 compared with 2007 which came from surface mines. The ongoing increase during the first quarter of 2009 includes an increase from deep mines also. There continues to be an encouraging trend in surface mine planning permissions. The potential re-opening of Harworth Colliery would cost some £200 million, but sourcing finance for this in the current climate is proving difficult.
The situation in the Czech hard coal industry is strongly influenced by lower demand for coal suitable for coking and a drop in its price by one third. This year OKD-OKK a.s. (Ostravskokarvinské koksovny, a coking coal company) expects a decrease in its annual coke production to 710,000 t against the planned 850,000 t. The other negative factors include decreasing electricity consumption, lower electricity prices on the energy exchange, and an increase in the price of steam coal (+ 17 %). These three factors prompted the operator of the 800 MW hard coal-fired Dìtmarovice power station, ÈEZ, to consider a shutdown of this power station for four months. Following an agreement between ÈEZ and OKD, the duration of the shutdown was reduced to one month. OKD’s supplies to the power station are 800,000 t annually. This has made it possible for OKD to maintain extraction and hundreds of jobs in northern Moravia. In 1Q 2009 OKD produced 3.1 Mt of hard coal. Compared with 1Q 2008, production dropped by 12 %.
German lignite production during Q1 2009, at 44.8 Mt, was generally 3.4% higher than the previous year. In Lausitz (+ 11.8%) and in Central Germany (+ 4.6%), lignite production was higher; on the contrary, in the Rhineland (-1.6%) and in Helmstedt (-1.3 %) production dropped. The changes are essentially due to the development of deliveries to power plants (+ 3.2 %), where some 92% of all production goes. Power generation by lignite-fired power plants was generally a good 3% higher than during the same period last year. For refined products, briquetting (+47.3%) showed a clear increase during the first quarter of 2009. The production of lignite dust (-11.2 %) and lignite coke (-8.7%) was dropping. Pulverised lignite production (-1.8%) was just under last year’s level.
In the chain of the impacts of the economic crisis, brown coal is not in the forefront in the Czech Republic but it will be affected at some later stage. This year’s fall of electricity prices can be expected to be reflected in energy companies’ results for 2010 and 2011. The price of coal is expected to drop by a few percent in 2010. In 1Q 2009 brown coal and lignite production amounted to 12.6 Mt. Brown coal companies contributed to this output as follows: SD, 6 Mt (+2.8%), CCG, 3.8 Mt (-2.9%) and SU, 2.6 Mt (-16.9%). The Centrum deep brown coal mine and Hodonín deep coal mine (lignite) produced 150,000 t. Compared with 1Q 2008, brown coal and lignite production declined by around 4%. Customers’ demand has helped to change the Czech Coal Group’s original decision to discontinue extraction from the last deep brown coal mine in the country. Extraction from the Centrum mine was to be ended last year, with employment contracts terminated for 300 employees. An agreement on extension of supplies until 2012 with the petrochemical company Unipetrol has ensured continued mining. Centrum produces about 280,000 t of coal every year.
In Poland, Adamow lignite mine, which wishes to open a new lignite mine south of Zgierz, has approached the Ministry of Environment to ask for a concession to explore the deposits. Once they have obtained the concession, they will have priority for lignite production within the area. Konin lignite mine intends to issue bonds for PLN135 million. The money will be invested in opening of the Tomis³awice open pit.
In Hungary, the expectations are that lignite output in the ongoing second trading period will continue to remain approximately at today’s level of 9 - 10 Mt/y. Regarding the subsequent period, it remains to be seen what the final emissions trading regulations will look like and, in particular, how CO2 prices will develop.
In order to reach a further improvement of productivity in Matra’s opencast mines, the assembly of a new compact excavator was started at the end of 2008. This machine is a prototype of the world’s biggest compact excavator. Its assembly is largely completed, and it will start operation in the Bükkabrany opencast mine in mid-2009.
The Slovenian power plant Sostanj (TES) is preparing to build a new so-called block 6 with 600 MW capacity and around 42% efficiency. It will replace old units. The Velenje coal mine will start a project for vertical skip winding of coal this year.
Serbia completed and launched the new overburden ECS (Excavator-Conveyor-Spreader) system in the Kostolac lignite basin in order to increase annual production from 6.5 to 9 Mt of lignite in the first stage and finally to 12 Mt of lignite.
Source: In-Mining
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Friday, 07 August 09
BALTIC DRY INDEX HAS WORST WEEK SINCE OCTOBER AS DEMAND SLOWS
Bloomberg reported that, The Baltic Dry Index, a measure of shipping costs for commodities, had its worst week since October as Chinese demand for s ...
Friday, 07 August 09
COAL-PRICE FORECAST RAISED AT MERRILL ON CHINA, INDIA DEMAND
Bloomberg reported that, Bank of America Corp.’s Merrill Lynch & Co. unit increased its price forecast for Asian power-station coal becaus ...
Friday, 07 August 09
CHINESE DEMAND FOR FOREIGN COAL SOARS
Mining Weekly reported that, Chinese coal imports rocketed by 126,3%, year-on-year, in the first half of this year, the country’s customs auth ...
Thursday, 06 August 09
RICHARDS BAY COAL SHIPMENTS FELL 3% ON YEAR IN JULY
Bloomberg reported that, Richards Bay Coal Terminal, Africa’s largest coal-export facility, exported 3 percent less of the fuel in July than i ...
Thursday, 06 August 09
NTPC LOOKS TO BYPASS STATE TRADING FIRMS ON COAL IMPORT
A reduced coal import bill for NTPC could lead to lower power tariffs
Live mint.com reported that, India’s largest power generation utility ...
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- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Bhatia International Limited - India
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
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