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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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Tuesday, 21 July 09
NEWCASTLE COAL EXPORTS FALL 5%, SHIP QUEUE INCREASES
Bloomberg reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, fell 5 per ...
Monday, 20 July 09
CHINAS COAL DEMAND, OUTPUT TO PICK UP IN H2 - GROUP 2
Financial24 reported that, China's coal demand is expected to gradually pick up in the second half of the year, and coal output will likely grow fa ...
Monday, 20 July 09
ADANI POWER LAUNCHES IPO, AIMS HIGHER CAPACITY
Economic Times reported that, Adani Power Ltd, a power project development company, promoted by Adani Enterprise went for an initial public offering ...
Monday, 20 July 09
BANPU'S SECOND-HALF PROFIT MAY DROP ON COAL PRICES
Bloomberg Reported that, Banpu Pcl, Thailand’s biggest coal producer, expects profit to decline in the second half from the first six months a ...
Monday, 20 July 09
CHINA COAL PRODUCES 52.7 MLN TONNES OF COAL IN 1H, UP 5.4 PCT
China Mining reported that, China Coal Energy Co., the country's second largest coal producer, said Saturday that it produced 52.67 million tonnes ...
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- Romanian Commodities Exchange
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Central Electricity Authority - India
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- PTC India Limited - India
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- MS Steel International - UAE
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
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