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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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Friday, 17 October 14
INTERNATIONAL COAL PRICES ARE AT LOWEST LEVEL; COAL STOCKS AT INDIAN POWER PLANTS ARE ALSO AT LOWEST LEVEL
International coal prices as well as coal freights are falling and reaching to its lowest levels. According to PTI, fuel stockpiles at the thermal ...
Friday, 17 October 14
U.S. COAL PRODUCTION UP BY 3.6% WEEK - ON - WEEK
COALspot.com – United States the world's one of largest coal producers, produced approximately 19.20 million short tons (mmst) of coal in ...
Friday, 17 October 14
DRY BULK SHIPPING'S OUTLOOK NOW SHIFTING TO A LESS PROMISING ONE, SHIP PRICES EXPECTED TO FOLLOW SOON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
China’s and other Asian countries’ return to the dry bulk market last week, didn’t trigger the hoped support towards the dry bulk ...
Thursday, 16 October 14
KOREA MIDLAND POWER TO BUY 490K MT OF LCV COAL FOR 1Q 2015
COALspot.com : Korea Midland Power Co., Ltd. has invited bids through International open bidding for 490,000 Metric Tons (MT) of LCV (Sub) Bitumino ...
Thursday, 16 October 14
PANAMAX OWNERS RECEIVE A PREMIUM FOR GOING TO INDIA VIA INDONESIA - FEARNLEYS AS
Handy
The Handy/Supra market continues to slide in both hemispheres, said Fearnleys AS in its latest week report. In the Atlantic we see rates co ...
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- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- White Energy Company Limited
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- London Commodity Brokers - England
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Australian Coal Association
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Minerals Council of Australia
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- The University of Queensland
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
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