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.
|
|
Monday, 07 November 16
INDONESIAN COAL PRICE REFERENCE ROSE 59.57 PER CENT YEAR TO MONTH
COALspot.com: The Indonesia coal benchmark price hits to its highest level since May 2013. The government declared benchmark prices for Indo ...
Monday, 07 November 16
HANDYSIZE: THE ASIAN INDICES RECORDED A GRADUAL DROP EVERY DAY - THE BALTIC BRIEFING
Capesize
A rumour-fuelled market this week but essentially rates a touch firmer and owners cautiously optimistic. The flotilla of vessels heading ...
Monday, 07 November 16
THE SUPRAMAX CHARTER RATES FOR INDONESIA TO INDIA WERE RATING AT AROUND $7500-8000 A DAY
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose slightly and ending in a positive note this past wee ...
Friday, 04 November 16
U.S COAL PRODUCTION UP WEEK OVER WEEK
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 17 million short tons ...
Friday, 04 November 16
INDONESIAN INFRASTRUCTURE DEVELOPMENT TRENDS ARE UNANIMOUSLY AFFIRMED
Press Release: October 20-21, 2016 Indonesia Infrastructure Summit (IIC) opened at the Hyatt Hotel in Jakarta The theme of the meeting was "Pr ...
|
|
|
Showing 2226 to 2230 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Planning Commission, India
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- The University of Queensland
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
|
| |
| |
|
