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Saturday, 22 September 18
GERMANY'S MOVE TO SCRAP COAL WILL COST TAXPAYERS - BRIAN PARKIN | WILLIAM WILKES
 Chancellor Angela Merkel’s plan to close Germany’s remaining coal-fired power stations will drive up subsidies for regions that mine the commodity, according to a document from the economy and energy ministry seen by Bloomberg.
Taxpayers are already slated to send 35 billion euros ($41 billion) of aid to four coal regions from 2013 to 2028 and will have to increase that amount as efforts to scale back pollution eliminates jobs at mines and power plants, the economy ministry estimated in a report drawn up last month.
The findings were submitted to the commission that Merkel asked to study when Germany could finally close its remaining 120 coal stations, which supplied more than a third of the nation’s electricity last year. After spending 500 billion euros to switch off the most polluting power plants, Merkel is now seeking to balance environmental goals against the need to protect jobs and keep a lid on electricity prices now at their highest level in years.
“The faster Germany pulls out of coal, the more expensive it’s going to be and we’re not talking about negligible costs,” said IGBCE miners, chemical and electrical workers’ union spokesman Lars Ruzic on the phone from Hanover Tuesday. “The phase-out is an immense disruption for utilities, the coal regions, jobs and the broader economy.”
Merkel’s coal commission has kept quiet about its private deliberations. It’s due to publish its main recommendations by the end of October. Philipp Jornitz, a spokesman for the Economy and Energy Ministry in Berlin, declined to comment on the report.
The documents dated Aug. 14 give a glimpse into the advice that’s feeding into Merkel’s coal commission. The panel, including lawmakers from the main political parties, environmental groups, analysts and unions, is drawing up a proposal for how quickly Germany should make the switch from fossil fuels in favor of cleaner forms of energy.
It said that the aid currently scheduled to go to coal regions is a “definite underestimate” of the actual amount of funding supporting those areas, since it excludes additional European Union payments to regional economies in transition.
Power in Germany is already the most expensive in Europe, according to the BDEW utilities federation. Closing the nation’s 120-odd coal plants by 2040 would push up power bills by 20 percent or by 29 billion euros, consultancy Frontier Economics said in an August report financed by RWE AG.
Germany’s remaining coal plants currently have a capacity of 46.7 gigawatts, about 23 percent of the nation’s total electric generation, which can produce 205 gigawatts in total. Wind turbines surpassed coal as the largest contributor to the grid last year.
The mandate of Merkel’s coal commission is to suggest a way government can “actively support structural change” in the coal regions, calibrating an exit from the most polluting fossil fuel while kick-starting new businesses to preserve jobs.
The four regions support tens of thousands of mining, power industry and service jobs, according to the IGBCE union. The companies that are most likely to be affected include RWE AG, which owns mining and power plants in the western state of North-Rhine Westphalia, and LEAG, which is the main lignite operator in eastern Germany.
Power prices have been rising this year across Europe along with the cost of coal, natural gas and carbon-emissions credits.
RWE and LEAG have said the cost of Germany’s energy transition can be limited if the government allows market forces to determine the timing of when the last coal plant should shut. The two have lignite mining licenses stretching into the middle of the century and want to preserve those assets.
Allowing the carbon market to guide Germany’s shift away from coal might allow them to keep operating for years or even decades.
Source: Bloomberg
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Wednesday, 04 July 18
TANKER MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
2 years tanker briefing in tanker asset prices
The tanker market is undoubtedly passing one of its’ roughest times over the la ...
Tuesday, 03 July 18
COAL, THE SECOND MAIN COMMODITY FOR CAPES, HAS BEEN SHOWING A REMARKABLE RISE IN TRADE VOLUMES IN THE YEAR SO FAR - THOMAS CHASAPIS
Having reached the mid-point in the year, it seems to be a good time to summarize the overall trends noted in the Dry Bulk sector and more specific ...
Tuesday, 03 July 18
SUPRAMAX: A 56,000-DWT WAS FIXED BASIS DELIVERY SINGAPORE TRIP VIA INDONESIA, REDELIVERY CHINA, AT $12,100 - BALTIC BRIEFING
Capesize
The market generally drifted and by mid-week dropped to what some felt was an artificially low level, only to bounce back at the end o ...
Tuesday, 03 July 18
COAL OVERTAKES IRON ORE IN GOVERNMENT FORECASTS AS AUSTRALIA'S LARGEST EXPORT FOR 2018-19 - MINERALS COUNCIL OF AUSTRALIA
Coal is forecast to be Australia’s largest export earner at $58.1 billion in 2018-19 with iron ore exports forecast to earn $57.7 billion in ...
Monday, 02 July 18
THIESS SECURES NEW QCOAL NORTHERN HUB $480M CONTRACT
Thiess has been awarded a new A$480 million contract by QCoal to continue operations at the QCoal Northern Hub located in Queensland’s Bowen ...
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- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- The University of Queensland
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Australian Coal Association
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- GMR Energy Limited - India
- White Energy Company Limited
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Minerals Council of Australia
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
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