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Thursday, 24 October 19
AUSTRALIA'S HOPES TO EXPAND COAL EXPORTS IN SOUTH-EAST ASIA 'DELUSIONAL', EXPERTS SAY - THE GUARDIAN
 The number of new coal-fired power plants starting construction across south-east Asia has fallen markedly over the past two years as Australia has increasingly looked to the region to expand its thermal coal exports.
Analysis by US-based climate research and advocacy group Global Energy Monitor found work on only 1.5 gigawatts of new coal generation – equivalent to one large Australian plant – began in the region in the six months to June, all of it in Indonesia.
It follows construction starting on plants with a capacity of 2.7 gigawatts last year, a 57% fall below 2017 levels and 79% less than in 2016.
While coal plants take years to build and some under construction are yet to come online, analysts said it raised doubts about whether demand in south-east Asia would continue to grow as the Morrison government expected.
The government’s chief economist reported in September that south-east Asia was expected to be a key source of growth for thermal coal exports as demand from the biggest markets in Japan, China and Korea declined in coming years. The region increased imports by 15% in 2018 and was the only area in which coal’s share of electricity generation rose.
But Ted Nace, Global Energy Monitor’s executive director, said the latest data suggested the expected south-east Asian thermal coal expansion could turn out to be “more fizz than boom”.
He said as the impetus to combat the climate crisis grew, it was increasingly difficult to get people to commit the hundreds of millions needed to build a coal generator.
“The number of plants entering construction during the first six months of 2019 is extremely low and we see this decline continuing,” he said.
The Morrison government says it is committed to the Paris agreement goals, including limiting global heating to as close to 1.5C as possible. The UN’s Intergovernmental Panel on Climate Change last year estimated that reaching the goal would require a 59% to 78% cut in coal use for electricity by 2030 compared with 2010 levels, followed by deeper reductions by mid-century.
Despite this, documents released to the Australian Conservation Foundation under freedom of information laws show department advice to Scott Morrison before a visit to Vietnam in August “strongly recommended” he focus on expanding coal exports. The emailed advice said the potential growth in exports to Vietnam could “partially mitigate declining exports elsewhere, notably China”.
The Global Energy Monitor analysis identified Vietnam as having the largest number of coal projects at pre-construction stage in south-east Asia, with 22.9 gigawatts proposed. It found another 26.4 gigawatts had been cancelled over the past five years before being built and work on only 1.5 gigawatts had begun since the end of 2016.
Across south-east Asia, 53.4 gigawatts of capacity is listed as at pre-construction stage but 69.6 gigawatts have been cancelled since 2015.
About three-quarters of Australia’s thermal coal export earnings are tied to three countries – Japan (45% of sales), China (16%) and South Korea (15%). The government’s office of the chief economist forecasts sales to Japan and Korea to steadily decline as the countries move away from coal. China is considered less predictable, in part due to the potential for abrupt changes in government policy.
Tim Buckley, from thinktank the Institute for Energy Economics and Financial Analysis, said the number of Asian coal projects to have secured financial backing had fallen by between 50% and 70% over the past three years, while the rate of plant closures had increased 50%.
He said it suggested Australia’s thermal coal sales would steadily decline over two-to-three decades. “Any suggestion that thermal coal exports have growth potential is delusional or outright misleading,” he said.
Source: The Guardian
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Tuesday, 07 May 19
UNDOUBTEDLY A VERY TROUBLED YEAR FOR THE DRY BULK MARKET, SAYS ALLIED SHIPPING
Undoubtedly a very troubled year for the dry bulk market says Allied Shipping in its latest weekly report.
Thomas Chasapis, Re ...
Saturday, 04 May 19
HOW THE 'FAIR VALUE' OF COAL ASSETS IS AFFECTED BY COMMODITY CYCLES - CRU
As with any commodity, valuing coal assets can be tricky due to the cyclical nature of the market. In this insight, CRU discusses how commodity cyc ...
Friday, 03 May 19
SUPRAMAX: WITH WIDESPREAD HOLIDAYS DURING THE WEEK, THE MARKET LACKED IMPETUS - BALTIC BRIEFING
Capesize
The market last week was a tale of two halves, with substantial volatility. Beginning the week on a positive note the C5 West Australi ...
Friday, 03 May 19
COAL INDIA APRIL OUTPUT RISES 1% TO 45.29 MILLION TONNE - PTI
Coal India Ltd (CIL) Wednesday said its coal production in April 2019 rose by 1 per cent to 45.29 million tonne as compared with 44.86 million tonn ...
Sunday, 28 April 19
SUPRAMAX: A 54,000DWT VESSEL OPEN GRESIK FIXED VIA AUSTRALIA, REDELIVERY CHINA, IN THE MID $12,000S - BALTIC BRIEFING
Capesize
Following the holidays, activity increased in both the Pacific and Atlantic Basins. The 5TC average rallied, closing at $8,596, up $1, ...
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- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- The University of Queensland
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Planning Commission, India
- MS Steel International - UAE
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- White Energy Company Limited
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Baramulti Group, Indonesia
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