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Friday, 30 March 18
EXPLAINING POLAND'S COAL PARADOX - FORBES
 In the U.S. coal is succumbing to market forces despite the Trump Administration’s push to support the industry. Abundant, cheap and cleaner natural gas together with ever more efficient and increasingly affordable wind and solar continue displacing coal in electricity generation. But to assume this is the general worldwide trend would be a serious mistake. In fact, even in the heart of “renewable-friendly” Europe, coal is and most likely will continue to be a fuel of choice. Despite coal’s obvious shortcomings that include high CO2 content and local air pollutants, Poland projects that in 2050 coal will still constitute 50% of its energy mix. The strong commitment to coal expressed most recently in the government’s program for the hard coal sector, is driven by host of factors that include social, electoral and policy considerations. As a general statement, it is important to understand the powerful role these factors play in the fuel mix across different countries.
Currently, Poland tops the EU list of biggest coal energy producers, and coal continues to dominate the energy mix in Poland (50%), accounting for a whopping 80% of electricity generation. Going forward, the country is looking into expanding coal production through investment in multiple new mines, including those producing lignite. These plans correspond with power-generation and district heating investments in new plants or expansion of existing facilities.
At the same time, Poland has been behind the EU schedule in implementing the mandated share of renewables energy sources (RES) in the Polish energy mix. The government has also been visibly slow with implementing the 2015 law on renewable energy sources, which in contrast to many EU countries, includes coal as part of the renewable energy mix via coal-biomass based cogeneration.
On the surface, the Polish government’s strong commitment to coal is removed from the realities of the current EU policy direction and market conditions. It goes against the trends in most OECD countries where a less-CO2 intensive energy mix includes increases in RES and natural gas while phasing out coal. Additionally, by pursuing coal Poland opens itself to disputes with the EU that can include substantial monetary fines. Moreover, Polish policy seems to contradict the government’s recent commitment to fight high levels of smog in many cities.
However, a deeper dive reveals that the pervasive use of coal in Poland cannot be explained in strictly environmental or market terms, or even in reference to the EU policy direction.
Coal takes a special place not only in Poland’s energy mix but also in the nation’s collective heart. The coal industry has been traditionally revered, if not romanticized, and much of this continues today. As reported by Poland’s Public Opinion Research Center (CBOS) in 2016, miners in Poland are respected at levels (82%) comparable to university professors (80%) and more than medical doctors (74%) or teachers (71%).
Miners have also enjoyed high salaries and pensions, often several times higher than the national average. In addition, they are highly organized within politically influential trade unions. The government is well aware that any decision that endangers the future of mining will meet with substantial protest, as exemplified by the events of 2015 when miners threatened to end the government of Ewa Kopacz, then Polish Prime Minister. A new law to restructure Poland’s largest mining company was met with widespread protests by miners and their unions, who saw the law as a prelude to the closing of four mines in the Upper Silesia region. Negotiations that ensued resulted in the government’s strong commitment to keeping all mines open, effectively assuring the mining jobs that could have otherwise been eliminated.
Thus, any policy that could potentially limit coal and negatively affect mining jobs can have immediate negative consequences for the incumbent government as well as serious electoral implications. There are 55 seats (out of 460 seats) in the Sejm (the lower chamber of the parliament) and 13 (out of 100) in Senate (the upper chamber of the parliament elected in Upper Silesia – the region historically known as “the kingdom of black coal.” Additional “coal” seats are dispersed around the country where lignite is mined. When compared to prospective EU disputes and/or fines, electoral and public support considerations are more immediate and can directly affect chances of survival for any incumbent government.
Intertwined with socio-political consideration is the second major issue that explains coal’s strong position and commitment to coal going forward – energy security. In Poland, the concept of energy security is viewed predominantly as low dependence on Russia, and it is at the top of government and general public priorities. Domestically available coal offers predictability and peace of mind at a time when renewable energy is still at the very beginning of its development, a potential nuclear power plant is still in discussion stages, and the majority of natural gas consumed in Poland needs to be imported from abroad, primarily from Russia.
Recognizing the geopolitical consequences of dependence on Russian gas, Poland has diversified its pool of natural gas providers, thanks to the newly built LNG terminal in Swinoujscie. But, LNG imports are intended to back out Russian gas rather then provide substitute for coal; so they are unlikely to push out coal in the same manner domestically available natural gas has in the US. In fact, part of the planned expansion of LNG imports into Poland is designed to capitalize on Poland becoming a hub for LNG distribution to other European countries.
Coal policy is a difficult balancing act for Poland. It needs to take into account immediate electoral, social and energy security considerations as well as the country’s commitments as a member of the EU. Poland receives substantial EU subsidies, including €27.4 billion for the Program on Infrastructure and Environment that stresses low-emission economy and environmental protection in addition to infrastructure development and energy security. Those funds could potentially be at risk going forward if Poland does not live up to its stated RES and emissions obligations.
The situation is also difficult for the EU more generally, as it highlights the tensions and different priorities between “high income Western Europe” and “middle income Central and Eastern Europe”. To be truly successful the EU has to understand the heterogeneous needs and priorities of its members. Strict RES development goals not adjusted to local needs, combined with potential fines and reprimands for noncompliance are unlikely to achieve the climate and decarbonization goals the EU has established. Instead rigid rules could push countries like Poland where government’s skepticism towards the EU is already high, toward a non-EU future. The issue seems to have been considered by the EU, which has recently committed €1.25 billion ($1.55 billion) to assist the Polish government with mine closures that could address some of the hardships such closures could have for the affected population. One might suspect substantive help provided to coal-dependent regions – including re-training and unemployment compensation – could alleviate some of the social and electoral considerations. Also, support toward less carbon-intensive energy sources that could be developed domestically – such as biogas – could facilitate a less coal-intensive future. Lastly, research toward and potential development of capture and storage solutions and/or coal gasification could accommodate some of Poland’s reliance on coal while minimizing its negative externalities, such as CO2 emissions and smog.
Source: Forbes
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Thursday, 11 January 18
SUPRAMAX: INDO TO CHINA COAL ROUNDS FIXING AT AROUND $10K - FEARNLEYS
Supramax
USG rates improved both for backhaul and fronthaul, Ultras from USG to Japan receiving around $26k daily while supras 1-2k less for same ...
Wednesday, 10 January 18
2018: IT IS PROJECTED, THE SHIPBUILDERS WILL DELIVER FOUR HUNDRED FORTY NEW VESSELS IN 2018
Headlines from IMF's 2017 – World Economic Outlook:
January 2017 - “After a lacklustre outturn in 2016, economic activity is p ...
Tuesday, 09 January 18
INDONESIAN GOVERNMENT DECLARED COAL REFERENCE PRICE UP IN JANUARY
COALspot.com: the Indonesian Coal Price Reference ( HBA) rose 1.60 per cent in January 2018, the latest ministerial decree showed.
The benchma ...
Friday, 05 January 18
U.S. WEEKLY COAL OUTPUT FELL 32.4% PER CENT WEEK OVER WEEK, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 10.5 million short tons ...
Friday, 05 January 18
COAL DEMAND TO REMAIN FLAT TO 2022, RESULTING IN A DECADE OF STAGNATION - IEA
Global demand for coal should remain nearly flat between 2017 and 2022, resulting in a decade of stagnation for coal consumption, according to the ...
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- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Rio Tinto Coal - Australia
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
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