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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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Thursday, 09 July 09
COAL AND OIL GROUP TO INVEST $300 MN TO BUY SHIPS AND ACQUIRE COAL MINE
Coal & Oil Group is planning to invest around $300 million (around Rs 1,500 crore) to buy new ships and to acquire coal mines. The company is pl ...
Thursday, 09 July 09
NO TRADE ON AUSTRALIA'S ASX COAL FUTURES DEBUT
*ASX's deliverable thermal coal futures debut without trade
*ASX says futures could present new arbitrage opportunities
The debut of Australia ...
Wednesday, 08 July 09
GERMAN COAL PRODUCTION DECREASED BY 31% TO ROUND 3.4 MILLION TON IN 1Q 2009 - COAL IMPORTERS ASSOCIATION, HAMBURG
COALspot.com (Germany):
World Coal Market
According to analysis of VEREIN DER KOHLENIMPORTEURE E.V. , On a quantity basis the s ...
Wednesday, 08 July 09
HUADIAN POWER BUYS INTO COAL MINERS
Huadian Power International Corporation - China's largest independent power producerCannounced Tuesday in a filing to the Shanghai Stock Exchange ...
Tuesday, 07 July 09
RICHARDS BAY TERMINAL COAL EXPORTS ROSE 7.2% IN JUNE
Richards Bay Coal Terminal Ltd., Africa’s largest coal-export facility, said shipments rose 7.2 percent in June from a year earlier.
Export ...
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- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- White Energy Company Limited
- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- Planning Commission, India
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
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