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.
|
|
Thursday, 18 August 16
CAPESIZE: AN EXTREMELY VOLATILE LAST WEEK, WHERE THE MAIN DRIVER HAS BEEN THE WEST AUSTRALIA MARKET
Supramax
The week has held up. After the most of the world is back at work there is some optimism again in the market. The Far East volume has in ...
Tuesday, 16 August 16
WEEKLY CS42 COAL INDEX SOARS 14.08% YEAR TO DATE AMID HIGH DEMAND
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 2.37% week over week to averaging $42.84 per ton this past week, shows CS (i) C ...
Monday, 15 August 16
DRY BULK: 2017 COULD MARK THE START OF LOWER SHIP DELIVERIES HELPING TONNAGE SUPPLY ISSUES IN THE MARKET, SAYS SHIPOWNER - HELLENIC SHIPPING NEWS
Dry bulk owner Pacific Basin, mainly active in the Handysize and Supramax trades appeared optimistic in its analysis of the prospects of the dry bu ...
Monday, 15 August 16
INDONESIAN COAL PRICES RALLYING; COAL OUTPUT REMAINS FLAT
COALspot.com: Global thermal coal prices, including Indonesian coal prices have risen sharply due to jump in imports from China as it curbs domesti ...
Monday, 15 August 16
THE SPOT FREIGHT MARKET STRENGTHEN OVER THIS WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose as Cape and Panamax segments ending in a positive no ...
|
|
|
Showing 2316 to 2320 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- The University of Queensland
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- PTC India Limited - India
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
|
| |
| |
|
