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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, 24 July 09
BIG ADARO SHAREHOLDERS CREATE HOLDING COMPANY
The nation’s second-largest coal producer, PT Adaro Energy, said on Thursday that five key shareholders had merged their holdings in the compan ...
Friday, 24 July 09
INDIA TAKES 9 MILLION TONNES S. AFRICAN COAL JAN - JUNE
Reuters reported that, India accounted for nearly 9 million tonnes of South Africa's January-June exports of around 28 million tonnes, industry sour ...
Thursday, 23 July 09
KOMIPO LAUNCHES TWO COAL TENDERS
Korea Midland Power on Wednesday launched two tenders to procure bituminous or semi-anthracite coal for August to September delivery. Bids close on J ...
Thursday, 23 July 09
GUANGDONG BUYERS SET TO IMPORT 2.3 MILLION MT FROM VIETNAM - MEDIA
Several coal-consuming companies in China’s Guangdong Province, headed by Guangdong Yudean Group (Guangdong Power Generation Group), have inke ...
Thursday, 23 July 09
KEPCO BUYS 1.5% STAKE IN ADARO ENERGY FOR US$ 56.5M
WSJ reported that, state-run utility Korea Electric Power Corp., or Kepco, Thursday said it has acquired a 1.5% stake in Indonesian coal miner, PT A ...
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- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- The University of Queensland
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
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