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Day One: Monday 19 September 2016

08:30 Registration & coffee

(09:30-11.00) Session 1: The International Coal Market and Determinants of Prices

Instructor: Hugh Lee, Independent Coal Consultant

  • The case for coal
  • Evolution of today’s coal market
  • Global Coal Flow - the pros and cons and its impacts
  • Types of coal and their availability
  • Review of international exports and imports
  • Overview of the world’s competitive dynamics for the coal sector
  • Gas and its impact in the coal space
  • 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

11:00 Networking refreshment break

(1130 – 1300) Session 2: Coal Sale and Purchase Agreements – The Role of the Producer

Instructor: Howard Gatiss, CEO, CMC-Coal Marketing Company Ltd

  • • 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

13:00 Networking lunch

(1400 – 1545) Session 3: Metallurgical Coal Markets

Instructor: Dr. Neil Bristow, Managing Director, H&W Worldwide Consulting

  • 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

1545 Networking Break and Refreshments

(1615 – 1830) Session 4: First Case Study

Moderated by:
Hugh Lee, Independent Coal Consultant
Dr. Neil Bristow, Managing Director, H&W Worldwide Consulting

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.

1830 End of Day One

1900 Dinner at St Catherine’s College with fellow course delegates

Day Two : Tuesday 20 September 2016

0830 Morning Coffee

(0845 – 1015) Session 5: Coal Sale and Purchase Agreements – The Buyer’s Perspective

Instructor: Graham Parker, Director, Graham Parker Coal Services

  • 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

1015 Networking Break and Refreshments

(1045 – 1245) Session 6: Coal Quality Management

Instructor: George Bradley, Business Manager, Energy Services, Environmental Scientifics Group

  • 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

1245 Networking Lunch

(1400 – 1730) Session 7: Fundamentals of the International Shipping Markets

Instructor: Alex Harkess, Director, Clarksons Platou Shipping Services USA LLC – Houston. TX.

Part One - Transportation of Goods by Sea.

  • Introduction to shipping
  • Logistics of transporting coal
  • The investment cost of deep sea logistics
  • Dry bulk – a market over view

Part Two - Legal Aspects of Freight and Contracts of Affreightment.

  • Freedom of contract – the underpinning of laissez-faire economics
  • Types of Contracts of Affraightment (COA) and the interface with Fuel Supply and Transport Agreements (FSTA’s)
  • Sellers and Buyers obligations when shipping FOB and CFR
  • Components of the COA with particular reference to:
  • Effecting the contract
  • Despatch half Demurrage
  • Stevedores, Stevedore damage and the settlement issues
  • Force Majeure and Frustration
  • Governing law of the COA and Alternative Dispute Resolution (ADR) options

1730 Questions and Discussion

1900 Dinner at St Catherine’s College with fellow course delegates

Day Three: Wednesday 21 September 2016

(0800 – 1830) 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 two grab cranes. The stockpile has a 750,000 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.

Tour and Presentation by Martin Downey, Director, Bulk Terminal and Operational Engineering, The Bristol Port Company 

  • 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

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.

Tour and Presentation by Caroline Syred, ‎Lead Combustion Engineer, RWE Generation – to confirm description (Melanie to confirm if following timings work - 14.15-16.15 Short introductory talk and tour of power station/ 16.15-17.15 Caroline Syred’s presentation)

  • 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

1900 Dinner at St Catherine’s College with fellow course delegates

Day Four: Thursday 22 September 2016

0830 Morning Coffee

(0900 – 1030) Session 9: Coal Industry Agreements – Legal Aspects

Instructor: Rory Gogarty, Partner, Holman Fenwick Willan LLP

  • Description of what is being sold/bought
  • Title and Delivery obligations
  • Warranties and representations
  • Jurisdiction and choice of law
  • Force Majeure
  • Risk management and effect of Charterparty obligations: demurrage
  • Electronic and on-line trading

1030 Networking Break and Refreshments

(1100–1245) Session 10: Trading Coal as a Commodity

Instructor: Adrian Hills, Market Manager, globalCOAL

  • What constitutes a commodity market?
  • Standard contracts and how they are used
  • Screen trading and electronic platforms
  • Coal market indices
  • Index-linking physical trades
  • Basic coal price risk management
  • Worked examples
  • Clearing and the Futures market
  • The future of standardised coal trading

1245 Networking Lunch

(1345-1815) Session 11: Second Case Study

Moderated by: Hugh Lee, Independent Coal Consultant

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.

1845 Special Course dinner 

Day Five: Friday 23 September 2016

0830 Morning Coffee

(0900 – 1100) Session 12: Financing coal mines

Instructor: Ingo Hofmeier, Director, Hannam & Partners

  • How much financing is taking place?
  • Mine valuation
  • Type and structure of agreements
  • Capital and operating costs - Calculating ROI
  • Mergers and acquisitions
  • Why and when to IPO?
  • Case study examples
  • Factoring in political risk
  • Latest trends in coal mine financing

1100 Networking Break and Refreshments

(1130 – 1300) Session 13: Carbon emissions controls and the coal industry

Instructor: Dr. Mauricio Bermúdez-Neubauer, Director - Future Economy, Wemanity UK

  • Review of current and planned carbon controls (taxes, standards, emissions trading schemes) around the world
  • EU ETS price development and outlook – understanding the carbon price and its interaction with commodities and power
  • International carbon credits, offsets and other linking mechanisms
  • Scenarios for the future global carbon market(s)
  • Understanding how carbon pricing and trading will impact the global coal industry
  • Strategic responses for the global coal industry to carbon controls

1300 Networking Lunch

(1400 – 1530) Session 14: Coal Ports and the Inland transport of Coal

Instructor: Hugh Lee, Independent Coal Consultant

  • Types of coal ports and their equipment
  • 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

1530 Networking Break and Refreshments

(1530– 1600) Session 15:  Reflection on key course points and summary

  • Final questions and discussion

1600 End of Training Course