Annual Report 2010 - Verein der Kohlenimporteure eV

The future of CDM after 2012 is uncertain, because a
legally binding follow-up protocol is lacking. At the
moment, CERs are being issued only until 2012. They
therefore no longer influence investment calculations
for new climate protection projects. Without a legally
binding follow-up, incentives are lacking.
Climate Summit in Cancún: Negotiations
Continue
The good news was that the climate summit did not
collapse. We cannot however report any breakthrough.
After a marathon meeting at the end of 2010, a series
of decisions was taken by the international community
of states to combat global warming:
acknowledged that the objective was to limit global
warming to less than two degrees Celsius
fund for developing countries was set up, with
industrialised countries contributing US$100 billion
each year.
the Kyoto Protocol and one for the climate objectives
of the USA and developing countries – however, these
are not legally binding.
Trends in Price Development 2011 - Varying
Development in Import Prices Expected -
have been at their highest level since November 2008,
fluctuating between US$120-130/t and thus more than
rates, on the other hand, due to an over-supply of freight
capacity for bulk commodities, are low.
At the same time, the US dollar has weakened with
respect to the euro. Only time will tell if the national
debts of Greece, Ireland, Portugal and Spain will have
an impact on the euro.
Based on spot market prices for steam coal during the
will most likely reach a level above €90/tce during the
course of the year.
Due to the flooding in Australia, coking coal prices
might reach new record levels in 2011. After the
moderate contract conclusions for the contract year
2009/2010 of US$130/t fob for “hard coking coal”, the
coking coal prices have been positively exploded and
the benchmark conclusion between Japanese steel mills
and the leading Australian producers is about US$225/t
fob for the first quarter 2011. Coking coal prices agreed
for the third quarter were also up to US$225/t fob.
High coking coal prices can be expected, reflecting the
recovery of the steel industry throughout the world.
Coke prices might also remain at a similarly high level.
Government
Energy Concept Adopted to 2050
In their coalition agreement of 2009, the “yellowblack”
parties had agreed “to put forward a new Energy
Concept at the latest within the next year, formulating
guidelines based on scenarios for a clean, reliable and
affordable supply of energy”. The Concept was to be
“free from ideology, open on technology and marketoriented”
and “point the path to the age of renewable
energies”. In preparation, the EWI, GWS and Prognos
institutes elaborated energy scenarios as cornerstones
of the Energy Concept. It must be pointed out, that the
scenarios are not forecasts. On the contrary, they are
driven by political assumptions, i.e. with predefined
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