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Agenda Overview

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DAY ONE - Monday 23 September 2013

Registration and Morning Coffee

Welcome Remarks and Introduction to the Course

SESSION 1: The International Coal Market and Determinants of Prices

• The case for coal
• Evolution of today’s coal market
• Types of coal and their availability
• Review of international exports and imports
• Overview of the world’s competitive dynamics for the coal sector
• What explains price changes in the last 3 years?
• Changing commercial structure
• Consolidation in coal supply
• Physical vs. commodity trading
• Competition from gas and other fuels
Hugh Lee, Independent Coal Consultant

Networking Break and Refreshments

SESSION 2: Coal Sale and Purchase Agreements – The Role of the Producer

• Inquiries, tenders and offers
• Taking a position
• Standard terms and conditions
• Contract structure
• Point of sale (mine / port / plant)
• Passing title and risk
• Price and price basis
• Payment and invoicing
• Long-term and frame contracts
• Options
Aoife Mooney, Contracts Manager, CMC Coal Marketing Company Ltd.

Networking Lunch

SESSION 3: Coal Sale and Purchase Agreements – The Buyer’s Perspective

• Company objective and fuel plan
• Fuel sourcing
• Market mechanics
• Price escalators / indices
• Supplier capabilities
• Length (spot / year / long term)
• Quality premiums
• Term extensions
• Covering exchange rate risks
• Documentation
• Schedules and notification
• Nominations and receipt
Graham Parker, Vice President, Energy, Coal & Carbon Group, Traxys Europe

 Networking Break and Refreshments

SESSION 4: First Case Study

This case study will involve teams from different utilities competing with each other in a coal buying simulation. It will cover the evaluation of supply options from various sources and the development of a long-term coal procurement strategy.
Moderated by: Hugh Lee, Independent Coal Consultant

Questions and Discussion

DAY TWO - Tuesday 24 September 2013

Morning Coffee

SESSION 5: Metallurgical Coal Markets
   Introduction to coking coal
• Coking coal / PCI coal / thermal coal
• Quality of coking coal and coke
• Cokemaking / ironmaking operations
• Major coking coal suppliers
• Long term and spot business
• Negotiating coking coal contracts
Dr. Neil Bristow, Independent Consultant

Networking Break and Refreshments

SESSION 6: Coal Quality Management
• Building quality assurance into the contract
• Role of independent inspectors
• Responsibilities
• Instructions to inspectors
• Sampling and analysis
• Draught surveys
• Losses and measurement techniques
• Risk areas
David Clay, Director, Energy Services Division and George Bradley, Production Manager, Environmental Services Group Ltd. (ESGL)

 Networking Lunch

SESSION 7: Fundamentals of the International Shipping Markets - Part One

Shipping Economics and the Shipping Market
• Overview of the international shipping market
• Types and sizes of vessels
• Vessel and voyage economics
• Factors affecting freight rates
• The role of shipbrokers
• The charter party
• Negotiating physical coal shipments
• Forward Freight Agreements (FFAs)
• Hedging strategies using FFAs
Mike Tysoe, Training Officer, Clarksons London

Networking Break and Refreshments

SESSION 8: Fundamentals of the International Shipping Markets - Part Two
Legal Consideration for Freight Contracts
Understanding contract terms and contractual relationships
Force majeure / demurrage
Litigation challenges over failed freight agreements
Dispute resolution
Ben Knowles, Partner, Clyde & Co LLP

Questions and Discussion

DAY THREE - Wednesday 25 September 2013

Full-Day Site Visits

Morning Visit: Bristol Port

The Bristol Bulk Terminal has an annual coal throughput of 6.5 Mt/y. It can accommodate capesize vessels with cargoes up to 110,000 t, with a capability of unloading two ships simultaneously without mixing cargoes, at a peak rate of 4,000 tph. The Terminal is equipped with two Kone supplied continuous ship unloaders, and a grab crane. The stockpile has a 550,000 t capacity and is equipped with a travelling stacker, a stacker reclaimer and a bucketwheel reclaimer. The stockyard is served by two separate rail load out areas; one is fed by conveyor and loaded via silo; the other is fed by front end loaders.

The tour and presentation will cover:

• Methods of loading / unloading
• Unloading times
• Handling costs
• Stocking with a stacker / reclaimer
• Road and rail loading with rapid-loading bunkers
• Screening / washing / blending
• Port management models
Martin Downey, Director, Bulk Terminal and Operational Engineering, The Bristol Port Company

Afternoon Visit: Aberthaw Power Station

Aberthaw is a coal-fired power station. The station began full operation in 1971 and is located to the west of  Cardiff, in the Vale of Glamorgan, on the north bank of the Bristol Channel. Aberthaw can generate around 1555MW of electricity for the National Grid System.

The tour and presentation will cover:

Train unloading and storage facilities for imported and indigenous coal
Coal pulverising mills
How coal quality can affect power station efficiency, and slagging and fouling
How ash composition affects boiler tube erosion and life
The carbon capture pilot plant
The Flue gas desulphurisation process
The use of biomass
Instructor: Gerry Riley, Corporate Engineer, Fuels & Combustion, RWE npower Plc

DAY FOUR - Thursday 26 September 2013

Morning Coffee

SESSION 10: Coal Industry Agreements – Legal Aspects

• Types of agreements
• What is being sold/bought
• Delivery
• Force majeure
• Warranties and representations
• Jurisdiction and choice of law
• Agents and traders
• Assignment
• Disputes
• The contractual structure of electronic and on-line trading
Rory Gogarty, Partner, Holman Fenwick Willan LLP

Networking Break and Refreshments

SESSION 9: Trading Coal as a Commodity

• What constitutes a commodity market?
• Standard contracts and how they are used
• Screen trading and electronic platforms
• Coal market indices
• Contract pricing options
• Basis trading
• Basic price risk management
• Risk management tools
• Options - basics
• Online auctions and reverse auctions
• The future of standardised coal trading
Eoghan Cunningham, CEO, globalCOAL

Networking Lunch

SESSION 11: Second Case Study

This case study will challenge delegates split into teams representing generating, shipping, stevedoring and mining companies to negotiate with each other in response to a force majeure situation that disrupts their interlocking contracts for the supply and transport of coal.
Moderated by: Hugh Lee, Independent Coal Consultant

Course dinner

Delegates will have the opportunity to take stock of the course so far, and relax with fellow delegates in the historical surroundings of Lincoln College for the traditional course dinner. Lincoln College was founded in 1427 by Richard Fleming, Bishop of Lincoln. It is one of the most attractive of Oxford’s medieval colleges, with two principal quadrangles, a glorious Chapel, and its 15th century dining hall.

DAY FIVE - Friday 27 September 2013

 Morning Coffee

SESSION 12: Coal Emissions and Environmental Considerations

• Emissions from burning coal
• Effects of particulates, SO2, NOx, CO2, mercury etc
• Abatement and control technologies
• Existing regulations and the potential future impact of the Large Combustion Plant Directive (LCPD),
   the Integrated Pollution Prevention and Control Directive (IPPC) and the Industrial Emissions Directive (IED)
Dr. Lesley Sloss, Principal Environmental Consultant, IEA Clean Coal Centre

Networking Break and Refreshments

SESSION 13: Emissions Trading and the Coal Industry

• Review of current regulation and trading schemes around the world
• EU ETS price trends and trading outlook – understanding how carbon and power prices interact
• International carbon credit projects
• Scenarios for the global carbon market post-2012
• Understanding how carbon pricing / carbon trading will impact the global coal industry
• Strategic response for the global coal industry to emissions trading regulation

Networking Lunch

SESSION 14: Inland Transport in Coal Exporting Countries

• Negotiating transport contracts
• Factors that affect transport rates
• Volume commitments
• Loading and unloading times
• Economics of each mode
• Rail: Monopolies and competition
• Road: Truck contracts
• Barge systems in different countries
• Self-unloading barges and ships
• Conveyors and ropeways
• Slurry pipelines
Hugh Lee, Independent Coal Consultant

Wrap up and Questions and Discussion



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