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Wednesday, 25 March 15
2014 : UK COAL IMPORTS DECLINED 17%; GERMANY COAL IMPORTS UP 6%
 Hard Coal Market 2014: Despite The Energy Turnaround, Hard Coal Imports To Germany Rise By More Than 6%, Although Hard Coal-Fired Power Generation Declines (Part 3). To click Part 1 and Part 2 to read previous articles.
Lower coal imports to the UK and France, higher imports to Spain and Germany – VDKi
The picture among the various member states of the European Union with respect to steam coal imports in comparison with 2013 was varied: imports to the United Kingdom declined to 32m tonnes (-17%) and imports to France fell to 9m tonnes (-30%), while Italy was able to hold its imports (16m tonnes) at the level of the previous year. In contrast, Spain (presumably 13m tonnes) and Germany (approximately 42m tonnes) imported 18% and 6% more hard coal, respectively, than in the year before.
The reasons for this development:
- The continued weakness of the economies in the EU, with the exception of Germany and Spain, where the economy is showing signs of recovery;
- Decrease in the full load utilization hours of coal-fired power plants owing to greater power generation from renewable energy sources;
- The low power wholesale prices; power plants can no longer be operated profitably and thus are not being used.
Hard coal-fired power generation was favoured by the continuing advantage of the so-called clean dark spread (costs for coal, freight and CO2 certificates) over the so-called clean spark spread (costs for gas, transport and CO2 certificates) in 2014 despite the price pressure on gas. This situation has supported coal-fired power generation and favoured the continued replacement of gas-fired power generation in Europe. Electric power was exported primarily to countries, which rely strongly on gas for power generation, like the United Kingdom and especially since coal-fired power generation has been made more expensive by UK legislation or The Netherlands or to countries which do not have adequate power plant capacities available, such as currently is the case in Bel-gium. The example of Belgium makes it clear how essential sufficient capacities on the power market are: Germany should take steps as soon as possible to ensure security of supply from hard coal-fired power generation capacities available at all times by creating a power market design in conformity with market requirements which does not dis-criminate against hard coal-fired power plants, requests the VDKi.
Power exports to other countries rise again by 3%
The export balance (export less import) in Germany increased to 35.5 TWh, a plus of 1.7 TWh over 2013. The exported power volume, which increased 3% in comparison to the previous year stems primarily from hard coal-fired power plants because nuclear power plants and lignite-fired power plants are operating in the base load range. While on this subject, the VDKi wants to clarify a misunderstanding which is often heard: There are claims that hard coal-fired power plants (must) export power at dumping prices because of the high feed-in of power from renewable sources in Germany when weather conditions are favourable. That is not correct. Hard coal-fired power plants are highly flexible. They are the “swing suppliers” in power generation, assuring the security in terms of electricity production decisively so far. They produce power for export only if and when the power wholesale market or a buyer offers a price which is higher than the marginal costs (especially fuel costs and costs for CO2 certificates) of the specific power plant. Power prices in neighbouring countries, especially in the UK, Belgium and The Netherlands, are frequently several Euros per MWh higher than on the German power wholesale market, featuring as it does prices influenced (contrary to market conditions) by the priority feed-in of renewable energies and variable costs of €0, which means that the import of German power by our foreign neighbours is profitable.
In total, however, the gross power generation in Germany in 2014 declined by 3% to 614 TWh, caused especially by the mild winter of 2014, according to the Federal Association of the Energy and Water Industry (BDEW). About 68% of this power, just as last year, comes from conventional energy sources. The share of hard coal in the energy mix in Germany amounted to just under 18% in 2014. All of this has happened against the backdrop of the growing share of renewable energies; their share of gross power generation for 2014 reached 27.8%.
Hard coal imports to Germany reach a historical high point at 56m tonnes
Estimates of the VDKi show that hard coal imports to Germany in 2014 developed as shown below:
- Total hard coal imports to Germany increased in the past year by about 3.3m tonnes (6.3%) to an historical high point of more than 56m tonnes. This is the highest level of hard coal imports to Germany since the establishment of the European Community for Coal and Steel in 1957.
- In comparison with 2013, imports of steam coal increased by about 5% to 41.9m tonnes while imports of coking coal rose by 15% to 11.7m tonnes for the iron and steel industry. Solely the import of coke declined by about 6% to 2.4m tonnes.
- Especially in Q3 and Q4 significant volumes of 7.8m and 10.5m tonnes of steam coal were imported to Germany:
The Arbeitsgemeinschaft Energiebilanzen (AGEB) estimates the consumption of hard coal in 2014 in comparison with the previous year as shown below:
- Hard coal consumption for power generation declined by 11.7% to 36.9m TCE (or about 43m tonnes regarding the calorific value of 6000 kcal).
- Hard coal consumption for the steel industry rose, especially during the first half of 2014, by 1.1% to 17.8m TCE (or about 20.7m tonnes) because of a slight improvement in the economic situation.
- Hard coal consumption for heating market declined by 6.3% to 1.5m TCE (or 1.75m tonnes) because of mild weather conditions.
Russia, South Africa, Canada, Australia and Poland increased their exports to Germany by between 1.5% and more than 100% (South Africa). Exports from the USA and Colombia to Germany fell by 7.8% to 11.1m tonnes and by 26.2% to 7.4m tonnes, respectively, in 2014. Russia was again the most important coal exporter, followed by the USA, in 2014. Owing to the current oversupply on the coal market and the privately organized mining operations in Russia, the VDKi does not consider this to be a problem with regard to supply security. Even if supplies from Russia were cut off completely tomorrow, this volume could be procured inherently (unlike natural gas) from other countries
The world market prices continued to slump (with only a few short interruptions in 2014), especially in Q4 2014 and at the beginning of 2015. The CIF ARA prices reached their lowest point for the moment in the middle of the year, posting a little over US$72 per tonne. After a minor recovery, prices started giving way again in September. At the end of December 2014, a tonne of hard coal CIF ARA cost only about US$71, and in January 2015, the price fell below US$60/tonne, a drop of 28% over January 2014
The steep drop in freight rates end of 2014/beginning of 2015 contributed to this development. An increasingly weaker euro in comparison with the US dollar led to price disadvantages in the euro zone. The average border-crossing price free German border (BAFA price) in Q4 2014 came to €73.41/TCE while the weighted average price for the year was €72.94/TCE
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Thursday, 26 March 15
KYUSHU ELECTRIC POWER OF JAPAN HAS JOINED GLOBALCOAL ONLINE COAL TRADING PLATFORM
globalCOAL® announced today that Kyushu Electric Power, one of Japan’s largest utility companies, has joined its online coal trading plat ...
Wednesday, 25 March 15
MARKET INSIGHT: TANKER CHARTERING - KATERINA RESTIS
The 1st of January 2015, as broadly reported, denoted the beginning date of new and progressive emission regulations for vessels operating within t ...
Wednesday, 25 March 15
AUSTRALIA SET TO ONCE AGAIN BE THE WORLD'S LARGEST COAL EXPORTER - COAL, MINERALS COUNCIL OF AUSTRALIA
Greg Evans, Executive Director - Coal, Minerals Council of Australia
Media Release: The latest Resources and Energy Quarterly published by the ...
Wednesday, 25 March 15
AUSTRALIA UPSTREAM ENERGY FIRMS FACE RISING OIL PRICE EXPOSURE - FITCH
Fitch Ratings says the Australian oil and gas companies involved in exploration and production face higher exposure to oil price-linked revenues, w ...
Tuesday, 24 March 15
A WEAK WEEK FOR FOB INDONESIA COAL SWAP
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 drop month on month and week over week.
The Q2 swap fell US$ 2.48 (5.12%) month ...
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- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Minerals Council of Australia
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Electricity Authority, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- The University of Queensland
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
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