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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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Sunday, 09 November 14
CAPE INDEX UP 3.06%; PANAMAX INDEX FELL 4.05%
COALspot.com: The BDI was almost at same levels compared to last week closing or just increased 0.77 pct from last week. The BDI was closed at 1437 ...
Friday, 07 November 14
U.S. PRODUCED 85.60 MILLION SHORT TONS OF COAL IN OCTOBER, UP 2.88% M-O-M
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.0 million short tons (mmst) of coal ...
Thursday, 06 November 14
THE ATLANTIC HAS REMAINED STRONG WITH A HEALTHY SUPPLY OF NEW CARGOES
Handy
This week has continued its slow trend in both hemispheres and even though rates are a bit up w-o-w it is not a clear sign for any improvem ...
Wednesday, 05 November 14
CAPESIZE SEGMENT ENJOYED FIRMING RATES ACROSS BOTH BASINS
Following a fantastic week in terms of rate performance for Capes, the Dry Bulk market managed to note another positive weekly closing, which stron ...
Wednesday, 05 November 14
SHIPPING MARKET INSIGHT - PANOS TSILINGIRIS
COALspot.com: The steep appreciation in dry bulker values between late 2012 and March 2014 resulted in unrealistically expensive ship values compar ...
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- ASAPP Information Group - India
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- White Energy Company Limited
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Latin American Coal - Colombia
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