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Monday, 20 October 14
CHINA'S ENVIRONMENTAL POLICIES DO NOT SPELL THE END FOR COAL - WOOD MACKENZIE
 China's environmental policies do not spell the end for coal Analysis across energy commodities show coal still accounting for 64% of power mix by 2030, while overall gas demand growth in China will be strongest
As details for China's Air Pollution Prevention and Control Action Plan (APPCAP) have evolved through 2014, energy suppliers have raised concerns that the continual re-thinking of targets and goals is creating uncertainty for China's energy and resources demand. In 'A moving target - assessing the impact of China's environmental policies', Wood Mackenzie concludes that within the energy, resources and mining sectors, China's recent environmental policies broadly continue to encourage the expansion of natural gas. More surprisingly however, despite some industry belief that this will result in coal's decline, Wood Mackenzie says coal demand will actually be supported and remain the dominant fuel in China's power mix.
Wood Mackenzie forecasts that coal's role in power is likely to decline from 72% to 64% of China's power mix as a result of APPCAP but remains the primary fuel for China. In absolute terms, this translates to coal demand increasing by just over two billion tonnes from now until then. Mr David Brown, Northeast Asia Power Markets Manager, explains, "Tackling chronic air pollution is a clear government priority but not the only one: economic growth, energy security and low cost energy remain paramount. Although initial policy goals focused on expanding the role of gas through demand targets or caps on coal consumption, policy releases throughout 2014 have now evolved to focus on emissions control rather than mass fuel switching to gas."
Northeast Asia Mining and Metals Manager, Mr Rohan Kendall says "The latest APPCAP policies are not aimed at penalising coal, but are a major step towards sustainable policies encouraging clean-coal use. The impact of APPCAP policies will affect the type of coal consumed by coastal power plants and emissions control rather than absolute demand volumes. With a reduced emphasis on switching coal-fired plants to gas for example, utilities will become more prudent in plant operations and coal selection - supporting low-ash and low-sulphur imports".
Even with a reduced emphasis on coal switching to gas, Wood Mackenzie's analysis shows China's environmental policies as broadly positive for gas, despite an expectation of some near-term growing pains as new supplies ramp-up. Gas demand in China will increase from around 207 billion cubic metres (bcm) in 2014 to 335 bcm by 2017, with demand from power, transport and the residential/commercial sectors contributing most to the growth near term. Further on from 2020 to 2030, gas demand will see an annualised average growth rate above four-percent, reaching 655 bcm by this time as China becomes with world's second largest gas market after the US.
Beyond power, gas and coal, Wood Mackenzie expects environmental policies will have little impact on demand for petrochemicals, iron ore, steel and metals. Rather, capacity closures will impact these industries more. Capacity that is out-dated, with high emissions and low margins will gradually see shut downs as the government tightens credit, which has been the lifeline of these industries over the last several years. Still, these capacity closures will not have an impact on production with limited impact on raw material demand. The intention is to consolidate fragmented and less efficient operations, not lower output.
Mr Brown concludes, "The way China's environmental policies have evolved already shows that they do not work in isolation but in a more complex fashion, hand-in-hand with conomic goals. The new leadership is focused on formulating integrated policies that balance these objectives. This approach indicates China's evolving environmental policies are not intended to be destructive for energy, mining, and metals but will rather help these industries grow sustainably and efficiently through the long term."
About Wood Mackenzie
Wood Mackenzie is a global leader in commercial intelligence for the energy, metals and mining industries. We provide objective analysis and advice on assets, companies and markets, giving clients the insights they need to make better strategic decisions.
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Thursday, 13 November 14
MODERN DRY BULK SHIPS' PRICES START FIRMING UP - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
While the main story of the past few weeks has been the rebound of the dry bulk market, which has been a result of increased Chinese iron ore impor ...
Wednesday, 12 November 14
PANAMAX: WITNESSED A FAIRLY STABLE MARKET IN THE ATLANTIC
COALspot.com: Despite the fact that the Dry Bulk market noted another weekly increase, clouds of uncertainty returned mid-week onwards, as the mini ...
Wednesday, 12 November 14
SHIPPING MARKET INSIGHT - CHRISTOPHER T. WHITTY
COALspot.com: The fight continues between the low-cost iron ore producers and the big three: Vale, Rio Tinto and BHP Billiton. We are moving into a ...
Tuesday, 11 November 14
FACING CHALLENGES AND MEETING OPPORTUNITIES - INTERNATIONAL EPC CONFERENCE & EXHIBITION
Press Release: SKYCONNECTION and TRANSEVENT, which is fully supported by the Institution of Engineers Indonesia and Ministry of Industry of the Rep ...
Tuesday, 11 November 14
NEWCASTLE COAL SWAP CLOSED AT $ 52.65 FOR Q1' 15 DELIVERY
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery decreased US$ 2.83 (-5.10%) month over month and US$ 1.35 (-2.50%) week ove ...
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- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- White Energy Company Limited
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Planning Commission, India
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
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