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Wednesday, 12 October 16
UK SEABORNE COAL IMPORT PLUNGES 64% AS A WORRYING TREND LURKS - BIMCO
 The main exporters of thermal coal for coal- fired power plants to the United Kingdom (UK) have experienced a heavy decline in seaborne cargo volumes in 2016. This comes as a result of the UK starting a concerning trend for the dry bulk shipping industry, by close to doubling its Carbon Price Floor (CPF).
Russia, Colombia and the United States (US) have been the top coal exporters to the UK for the previous three years. The long hauls from the US and Colombia have historically been strong routes for the dry bulk industry, as they have provided a lot of tonnage miles. Since the UK increased their CPF to £18 per tonne of CO2, the exports from the three main exporters during the first 7 months have declined 69% compared to last year and the UK total import of coal for coal- fired power plants is down 64% for the same period.
Peter Sand Chief Shipping Analyst at BIMCO comments: “This is one of the most significant effects, which has impacted the demand side of the global dry bulk shipping industry in 2016. It reflects something bigger lurking beneath the surface of the coal industry and in transportation of this commodity.
The declining trend in coal consumption in the UK is affecting the dry bulk industry negatively and this story will not be the only one”.
UK carbon price floor increases coal price by 138%
When the CPF first came into effect in April 2013, it was based on the carbon price support (CPS) price per tonne of CO2 on top of the EU emission trading system (ETS) rate per tonne of CO2. At that time the CPS was £0.819 per Gigajoule (GJ). The introduction of this led to closures of several coal plants from 2012-2014 in the UK, with a total capacity of 8.4 Gigawatt (GW), enough to generate electricity for an estimated 6.7 million homes (Total: 25 million homes).
From the beginning of 2016 the CPS was increased to £1.568 per GJ equalling to around £18 per tonne of CO2, operating on top of the EU ETS at €5 per tonne of CO2. In September 2016 this was equivalent to a tax around £63.90 on a tonne coal worth £46.38 (CIF ARA). This increase led to a further closure of 8.2 GW in 2015 and 2016.
The CPF will double again in 2020 to £30 per tonne of CO2 and by 2030 it will be £70 per tonne of CO2.
Peter Sand adds:” Implementing a tax which increased the total price of coal by 138 %, caused an immediate reaction from the UK coal-fired power plants. The dry bulk industry is hugely affected by this, due to a large reduction in long haul thermal coal imports.”
The capacity taken out as a result of closures has put the UK into a position where their domestically produced supply of electricity will struggle to meet peaks in demand. In the case of domestically produced electricity falling short of demand, the UK will need to rely on importing electricity from other European countries.
Depending on the other European countries energy mix, their electricity exports will be a surplus of renewable fossil fuel – or nuclear energy. If the electricity generated comes from fossil fuel it may offset the declining UK coal imports somewhat and the change in demand for the dry bulk shipping industry will be less severe.
Price floor does the trading scheme’s job
While the effect of the UK carbon price floor to coal imports is undeniable, the European Union emission trading scheme (ETS) has not limited coal imports to the same extent. The development of the European ETS rate per tonne of CO2 from €30 in 2008 to the current €5, has not incentivised others to reduce coal consumption on a large scale. The decrease of the EU ETS rate is primarily due to an oversupply in allowances.
K coal consumption has been falling for four years, while the development in EU coal consumption has been more stable. The increase of the CPF level in 2016, caused a decline of 56.7% year-on-year for the first five months of 2016. A total of 6,839 thousand tonnes was consumed in the first five months, compared to 15,800 thousand tonnes in the year before.
Peter Sand comments: “It will be a setback for the dry bulk shipping industry if the CPF becomes a standardised scheme and is adopted by other nations as well as on a supranational level. It will, if introduced at the same level as in the UK, cause a similar development and closure of coal-fired power plants.
France, importing the fourth largest share of coal for European countries (8%) in 2016, has already imposed a CPF on 30€ per tonne of CO2 planned to be introduced in January 2017”.
Source: BIMCO
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Tuesday, 22 November 16
THE COMMODITIES MARKETS HAD SHOWED GREATER PROMISE SINCE THE SUMMER PERIOD - GEORGE LAZARIDIS
We have all borne witness to the sluggish pace of trade growth witnessed during the course of the past 4 years as well as the even slower pace note ...
Monday, 21 November 16
CHINA IS ESTIMATED TO SEE HIGHEST IMPORTED COAL DEMAND LEVEL IN 2017, POLL SAYS
“Which country is estimated to see highest imported coal demand level in 2017?”
The on-line opinion poll conducted by COALsp ...
Monday, 21 November 16
KOMIPO IS LOOKING FOR 140K MT OF SUB-BITUMINOUS COAL FOR FEB-MAR 2017 LOADING
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 140,000 Metric Tons of Sub-Bituminous coal for i ...
Monday, 21 November 16
BALTIC DRY INDEX SURGES TO 1257 POINTS W/E 18 NOV; BPI ROSE 37.3% W/W
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rally continues this past week and ending on a positive n ...
Friday, 18 November 16
CAPESIZE: THE COMMODITIES PRICES ARE INCREASING, RESULTING IN MORE DEMAND AND CONSEQUENTLY RATES ARE MAKING A BIG JUMP - FEARNLEYS
Supramax
Apart from booming S. Africa where owners have obtained USD 14-15k to MEG/India and around mid USD 12k to China, the Pacific market has ...
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Showing 2206 to 2210 news of total 6871 |
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- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- Coal and Oil Company - UAE
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
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