We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Friday, 18 November 16
U.S. WEEKLY COAL PRODUCTION TOTALS 16.8 MMST, DOWN 0.8%, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.8 million short ton ...
Thursday, 17 November 16
FROTHY THERMAL COAL PRICES POINT TO DOWNSIDE PRESSURES IN 2017 - FITCH
Fitch Ratings says in an Outlook Report that the Asian thermal coal industry will remain under pressure in 2017 due to more-than-adequate capacity ...
Thursday, 17 November 16
CHINA STEEL EXPORTS TO REMAIN HIGH IN 2017, FITCH SAYS
Fitch Ratings expects Chinese steel exports to remain at around 100 million metric tons (Mt) in 2017, due to flat 'apparent' consumption an ...
Wednesday, 16 November 16
SHIPPING MARKET INSIGHT
Going through a relatively interesting second half of the year so far in the ship repair sector, we are experiencing a volatile climate of differen ...
Tuesday, 15 November 16
CHINA, FOR MANY YEARS NOW HAS SERVED AS A MAJOR GROWTH ENGINE FOR ASIA - ALLIED SHIPPING RESEARCH
It’s been a turbulent couple of days after the announcement of the U.S. Presidential results in the early hours of Wednesday.
After week ...
|
|
|
Showing 2211 to 2215 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Australian Coal Association
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- The University of Queensland
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Planning Commission, India
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
|
| |
| |
|
