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Tuesday, 13 December 16
COAL DEMAND GROWTH TO STALL AS APPETITE WANES, ACCORDING TO IEA
 Growth in global coal demand will stall over the next five years as the appetite for the fuel wanes and other energy sources gain ground, according to the latest coal forecast from the International Energy Agency.
The share of coal in the power generation mix will drop to 36% by 2021, down from 41% in 2014, the IEA said in the latest Medium-Term Coal Market Report, driven by lower demand from China and the United States, along with fast growth of renewables and strong focus on energy efficiency.
But in a sign of coal’s paradoxical position, the world is still highly dependent on coal. While coal demand dropped in 2015 for the first time this century, the IEA forecasts that demand will not reach 2014 levels again until 2021. However such a path would depend greatly on the trajectory of China’s demand, which accounts for 50% of global coal demand – and almost half of coal production – and more than any other country influences global coal prices.
The new report highlights the continuation of a major geographic shift in the global coal market towards Asia. In 2000, about half of coal demand was in Europe and North America, while Asia accounted for less than half. By 2015, Asia accounted for almost three-quarters of coal demand, while coal consumption in Europe and North America had declined sharply below one quarter. This shift will accelerate in the next years, according to the IEA.
Because it is relatively affordable and widely available, coal remains the world’s number one fuel for generating electricity, producing steel and making cement. It provides almost 30% of the world’s primary energy, declining to 27% by 2021. However it is also responsible for 45% of all energy-related carbon emissions and is a significant contributor to other types of pollution.
“Because of the implications for air quality and carbon emissions, coal has come under fire in recent years, but it is too early to say that this is the end for coal,” said Keisuke Sadamori, the director of the IEA’s energy markets and security directorate, who launched the report in Beijing, China.
“Coal demand is moving to Asia, where emerging economies with growing populations are seeking affordable and secure energy sources to power their economies. This is the contradiction of coal — while it can provide essential new power generation, it can also lock-in large amounts of carbon emissions for decades to come.”
The IEA’s report acknowledges China’s continued dominance in global coal markets. Coal-fired power generation in China dropped in 2015 due to sluggish power demand and a diversification policy that led to the development of new renewable and nuclear power generation capacity. The IEA forecast for Chinese coal demand shows a very slow decline, with chemicals being the only sector in which coal demand will grow, reaching 2,816 Mtce by 2021, around 100 Mtce less than the 2013 peak.
In the United States, coal consumption dropped by 15% in 2015, precipitated by competition from cheap natural gas, cheaper renewable power – notably wind – and regulations to reduce air pollutants that led to coal plant retirements. This was the largest annual decline ever, reaching levels not seen in more than three decades. Another substantial decline is expected in 2016. Looking ahead, the IEA forecasts a 1.6% per year decline, much slower than 6.2% decline over the past five years, as higher gas prices result in less coal-to-gas switching.
The brightest sign for coal was a recent unexpected boost in prices that provided relief to the industry. After a sustained four-year long decline, coal prices rebounded in 2016, mostly because of policy changes in China to cut capacity and curb oversupply. This was another example of the strong influence of macroeconomic developments and policies in China in shaping the global coal market.
The report also points out that despite the Paris Agreement there is no major impetus to promote the development of carbon capture and storage technology.
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Wednesday, 14 December 16
INTERNATIONAL TRIBUNAL DISMISSED CHURCHILL MINING'S DAMAGES CLAIM AGAINST REPUBLIC OF INDONESIA
The Directors of Churchill Mining plc advise that, the ICSID Tribunal (“Tribunal”) granted Indonesia’s application to dismiss the ...
Wednesday, 14 December 16
20/20 VISION! - JOHN N. COTZIAS
2020; A year that could be changing shipping. In early November, the International Maritime Organization (IMO) announced that it would set a 0.5% s ...
Tuesday, 13 December 16
THE FREIGHT MARKET MAY WELL BE SHOWING SIGNS OF HEADING FOR ITS DOWNWARD CORRECTIVE PHASE - ALLIED
2016 has been a tough market for dry bulkers and through these difficult earnings, we have seen some of the lowest prices being noted historically ...
Monday, 12 December 16
U.S. WEEKLY COAL PRODUCTION TOTALS 16.3 MMST, UP 7.4% - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.3 million short ton ...
Monday, 12 December 16
INDONESIA TO INDIA FREIGHT RATES ARE EXPECTED TO BE SOFT THIS WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline this past week and ending on a negative note week ...
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- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
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