European Coal Trading 2013
Read a press summary of this new coal trading report
We estimate total financial trading volumes in the top international markets rose by 15% in 2012, reaching a record high of 2,215 million tonnes (Mt). Market participants report strong interest from traditional core players to a growing number of new entrants and mostly expect 2013 to be another good year overall in volume terms.
This 140 page report covers the global coal market context of European trading, market fundamentals inside Europe, the emissions policy factor, physical and financial trading market characteristics, trading volumes, key products and players, the rise of clearing, and more. It is based on wide-ranging research and interviews with leading players in all major European markets. Market and industry indicators are also provided in 33 tables and 40 charts. The report is structured as follows:
Chapter 1 – The Global Context: this chapter reviews the global coal market. Global trends are important to Europe - they can drive imported coal prices sharply higher or lower. The chapter begins with a brief review of coal types. Next the immense surge in global demand since 2000, geographic shifts in the market, and coal’s position in the world’s energy mix are covered. The growth outlook is also profiled. A review of major producing countries and global reserves follows. An assessment of the boom in global seaborne coal trade comes next. The chapter concludes with detailed price coverage. It reviews the wild price volatility seen in recent years, price drivers, and bearish views that have gained substantial ground from bulls in 2013.
Chapter 2 – European Coal Market Characteristics: this chapter illustrates European coal market fundamentals. A market overview presents consumption volume trends, key coal sources, and country rankings for both hard coal and lignite. A profile of the import markets covering volumes by country and major external suppliers follows. Next coal production in the EU is reviewed, including a ranking of leading coal producers. The following section details the role of coal in power generation and the major coal-fired generators. The chapter concludes with a long term review of EU emissions policy, a crucial factor for the coal market.
Chapter 3 – The Physical Trading Market: this chapter reviews the European physical trading market. It begins with coverage of price indices, an essential foundation stone for trading markets. Next it reviews available volume indicators in a complex and sometimes opaque market. A qualitative assessment of the rise of trading follows. It leads into a review of market participants’ opinions on current problems and the scope for improvements. Next leading brokers and traders are profiled. The chapter concludes with a detailed profile of globalCOAL, a key OTC trading marketplace.
Chapter 4 – The Financial Trading Market: this chapter profiles the financial coal trading market. It begins with a summary of the main products and a review of market analysis factors. A detailed analysis of long term volume trends follows, covering developments from the market’s early days right up to summer 2013. The analysis focuses on key geographic market volume trends, the rise of OTC clearing, volume growth drivers, and new clearing house rivalry. Leading brokers and top financial players are profiled next. Comparisons with other European energy trading markets follow. The rest of the chapter profiles clearing providers CME, ICE and LCH.Clearnet.
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European Coal Trading 2013
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