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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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Monday, 24 October 16
U.S WEEKLY COAL PRODUCTION DECLINED 3.2% TO 16 MMST WEEK OVER WEEK
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16 million short tons ...
Monday, 24 October 16
DRY BULK:MARKET ENDS WEEK WITH MIXED REACTIONS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities ending with mixed direction as Cape and BDI was declined ...
Thursday, 20 October 16
THE PORT OF NEWCASTLE SHIPPED 16.97 PERCENT MORE COAL IN SEPTEMBER
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1,216.7 m ...
Thursday, 20 October 16
A SUPRAMAX HAVE BEEN FIXED AT $12,500 FOR A INDIA TO BANGLADESH TRIP - FEARNLEYS
Supramax
A bit more activities with modest upturn in rates.
According to Fearnleys weekly report, US Gulf trip to Skaw-Passero has seen cons ...
Wednesday, 19 October 16
THE SHIPPING MARKET IS IN A WAIT AND SEE MODE - INTERMODAL
We are now heading towards the end of a rather volatile 2016 for the dry bulk segment. During the last 10 months there were never any clear indicat ...
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- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- CNBM International Corporation - China
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
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- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
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- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
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- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Sical Logistics Limited - India
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- Planning Commission, India
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
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- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
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- Meralco Power Generation, Philippines
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- Vedanta Resources Plc - India
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- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
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- Dalmia Cement Bharat India
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- Samtan Co., Ltd - South Korea
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