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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, 02 November 14
CAPE INDEX WAS UP 46.65% WEEK ON WEEK
COALspot.com: The BDI and Cape index continued the strong upward trend this week. The BDI was up 19.80 pct and Cape index was up by 46.65 per ...
Friday, 31 October 14
BUKIT ASAM'S NET PROFIT ROSE 27.42% FOR THE PERIOD JANUARY - SEPTEMBER 2014
COALspot.com: Publicly listed coal miner Bukit Asam reported solid profits in the first nine months of 2014 year.
Coal miner Bukit Asam manage ...
Friday, 31 October 14
U.S PRODUCED AROUND 19.3 MMST OF COAL IN A WEEK
COALspot.com – United States the world's one of largest coal producers, produced approximately 19.3 million short tons (mmst) of coal in ...
Thursday, 30 October 14
COAL & GRAINS SUPPORT PANAMAX AND IRON ORE SUPPORTS CAPES
Handy
The Atlantic market has been flat this week. Rates are up about US$ 200 from last week on the TA´s, but the volumes are about the sam ...
Thursday, 30 October 14
DOES A LOU ARBITRATION AGREEMENT FOR THE UNDERLYING CARGO CLAIM COMPLETELY REPLACE THE BILL OF LADING ARBITRATION CLAUSE? - INCE &CO
KNOWLEDGE TO ELEVATE
In the context of cargo claims brought under four bills of lading, the Commercial Court has recently considered whether a ...
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- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Planning Commission, India
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Minerals Council of Australia
- MS Steel International - UAE
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
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