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Agenda Overview

Day One: Monday 21 September 2015

08:00 Registration & coffee 

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

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

Session 2: Coal Sale and Purchase Agreements – The Role of the Producer (11:30 – 13:00)

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

Session 3: Coal Sale and Purchase Agreements – The Buyer’s Perspective (14:00 – 15:45)

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

15:45 Networking Break and Refreshments

Session 4: First Case Study (16:15 – 18:30)

Moderated by: Hugh Lee, Independent Coal Consultant and 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.

18:30 End of Day One

19:30 Dinner at St Catherine’s with fellow course delegates

Day Two: Tuesday 22 September 2015

08:30 Morning Coffee

Session 5: Metallurgical Coal Markets (08:45 – 10:15)

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

10:15 Networking Break and Refreshments

Session 6: Coal Quality Management (10:45 – 12:45)

Instructor: Jim Clay, Operations Director, 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

12:45 Networking Lunch

Session 7: Fundamentals of the International Shipping Markets - Part One (14:00 – 16:30)

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
• FFAs

16:30 Networking Break and Refreshments

Session 8: Fundamentals of the International Shipping Markets - Part Two (16:45 – 17:45)

Instructor: Nick Austin, Partner, Clyde & Co LLP

Legal Considerations for Freight Contracts
• Understanding contract terms and contractual relationships
• Force majeure / demurrage
• Litigation challenges over failed freight agreements
• Dispute resolution

17:45 Questions and Discussion

19:30 Dinner at St Catherine’s with fellow course delegates


Day Three: Wednesday 23 September 2015

Full-Day Site Visits (07:00 – 18:30)

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 

• 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

19:30 Dinner at St Catherine’s with fellow course delegates

Day Four: Thursday 24 September 2015

08:30 Morning Coffee

Session 9: Coal Industry Agreements – Legal Aspects (09:00 – 10:30)

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

10:30 Networking Break and Refreshments

Session 10: Trading Coal as a Commodity (110:0–12:45)

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

12:45 Networking Lunch

Session 11: Second Case Study (13:45-18:15)

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.

19:30 Course dinner 

Tonight delegates are invited to a special course dinner in the majestic surroundings of Wadham College's 400 year old dining hall.

Day Five: Friday 25 September 2015

08:30 Morning Coffee

Session 12: Coal Emissions and Environmental Considerations (09:00 – 11:00)

Instructor: Nigel Yaxley, Partner, Energy Edge

• 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)

11:00 Networking Break and Refreshments

Session 13: Emissions Trading and the Coal Industry (11:30 – 13:00)

Instructor: Miles Austin, Executive Director, Climate Markets & Investment Association

• 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

13:00 Networking Lunch

Session 14: Coal Ports and the Inland transport of Coal (14:00 – 15:30)

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

Session 15:  Reflection on key course points and summary (15:30– 16:00)

• Final questions and discussion

16:00 End of Training Course