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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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Tuesday, 11 November 14
PORT OF NEWCASTLE'S OCTOBER COAL SHIPMENTS SLIPPED 7.40% M-O-M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1,115.7 mil ...
Monday, 10 November 14
Q4' 15 FOB INDONESIA COAL SWAP CLOSED LOWER THAN Q1' 15 CLOSING PRICE OF US$ 49.58 ON LAST FRIDAY
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month, week on week and day on day.
The Q1 swap has lost just US$ ...
Monday, 10 November 14
SGX'S API 4 FOB RICHARDS BAY COAL SWAP FOR Q1' 2015 DELIVERY CLOSED AT US$ 65.44 ON 7 NOV, LOST 4.08% M-O-M
COALspot.com: API 4 FOB Richards Bay Coal swap for Q1’ 2015 delivery has decreased US$ 2.78 (-4.08%) month over month and US$ 1.41 (-2.11%) w ...
Monday, 10 November 14
MOZAMBIQUE SIGNED CONTRACT WITH ETA STAR OF UAE FOR OPEN CAST COAL MINE IN TETE - AIM
- ETA Star to build slurry pipeline over the 600 kilometers to Beira in Mozambique to transport coal.
- The viability studies show the presence o ...
Monday, 10 November 14
YEAR 2015 CFR SOUTH CHINA COAL SWAP SHOWS A WEAK TREND THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased US$ 3.74 (-5.63%) month over month and US$ 2.19 (+3.37%) we ...
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- Bhatia International Limited - India
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
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