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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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Wednesday, 15 October 14
NEWCASTLE SHIPPED 13.96 MILLION TONS OF COAL IN SEPTEMBER; UP 5.72%
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1,227.7 wor ...
Tuesday, 14 October 14
KING COAL UNDER ATTACK? - EVA TZIMA
With the last quarter of the year being well underway and with no strong signs that the Dry Bulk market could be ready for a big positive reversal, ...
Tuesday, 14 October 14
THE NEW CHINESE TRANSPORTATION TAX LAW: WHAT DOES IT MEAN FOR GREEK SHIPPING? - DELOITTE
China has recently promulgated a new law which imposes tax on profits from freights of inbound routes. The objective of the new tax law titled &ldq ...
Monday, 13 October 14
CHINESE COAL IMPORT TARIFFS YET ANOTHER BLOW TO AUSTRALIAN COAL EXPORTS - TIM BUCKLEY
COALspot.com: China’s unexpected move to reintroduce thermal coal import tariffs of 6% will have a materially negative impact on the viabilit ...
Monday, 13 October 14
NEWCASTLE COAL SWAP FOR Q1' 2015 DELIVERY CLOSED AT US$ 54.92, SGX DATA SHOWS
COALspot.com: API 5 FOB Newcastle Coal swap for delivery Q4' 2014 decreased US$ 0.80 (-1.46%) month over month and US$ 0.52 (-0.95%) week over ...
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- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- The University of Queensland
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- White Energy Company Limited
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Minerals Council of Australia
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Australian Coal Association
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
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