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Thursday, 07 August 14
SHORT-TERM COAL OUTLOOK IMPROVES - SAM QUEST
 With demand for and supply of coal to grow in the near future, prices are expected to rebound in the short term; the long-term prospects, however, are bleak
Coal, besides being a cheap source of electricity generation, also serves as a major raw material for various industries, including steel and cement production.
In the US, coal accounts for nearly 40% of total energy needs (based on 2014 year-to-date statistics). As emission standards in the US become more stringent, natural gas and other renewable resources are increasingly replacing coal as an energy alternative. Despite this, coal remains a major source of power generation because it is cheaper than other resources.
Outlook for 2014
The US Energy Information Administration (EIA) expects the country’s coal production to increase 2.7% to 1,011 million short tons (MMst) in 2014, driven largely by higher consumption.
Coal production fell by more than 7% in 2012, compared to 2011, as a result of increased competition from natural gas for power generation. Natural gas prices fell 31% in 2012 to $2.77 per MMBtu from $4.02 per MMBtu in 2011.
Demand for coal is expected to grow 2.8% this year to 951 MMst because of rising demand for electricity and higher natural gas prices. Beginning second-half of 2013, natural gas prices started rising as demand outpaced supply, reaching $5.08 per MMBtu in May 2014.
In 2015, however, the demand for coal is likely to decline 2.8% as Mercury and Air Toxic Standards go into action, leading to retirement of coal power plants. Natural gas prices are expected to fall again next year because of a 1.1% decline in natural gas consumption during the current year, further reducing the demand for coal.
Coal production will continue to see a slight improvement until 2030 as the existing plants reach their maximum utilization rates, after which no new capacity will be added. All in all, the production is expected to rise 0.3% per year from 2013 through 2040, from 20.8 to 22.6 quadrillion Btu.
Coal Prices
Coal prices have followed a declining trend in the past two years in the face of growing supply from major producers looking to cut costs, and shrinking consumer demand because of a slowing Chinese economy. China consumes 60% of the world’s coal and iron ore.
Annual average prices of thermal coal fell from $2.39 per MMBtu in 2011, to $2.35 per MMBtu. Analysts expect global thermal coal prices to stay at low levels until 2016. The EIA, however, expects average delivered coal prices to increase to $2.39 per MMBtu in 2014 and $2.41 per MMBtu in 2015.
Impact on related industries
In the wake of falling coal prices, mining companies have cut capital expenditures to remain profitable.
The decline in prices has also affected mining equipment companies. Caterpillar Inc. (CAT), the largest manufacturer of mining equipment, has a bleak outlook for the current year as sales of mining equipment drop. Its second quarter revenues for mining division fell 29% year-over-year (YoY).
Railroad companies, however, saw coal shipments rise for the second quarter as a result of increased demand for utility coal from stockpile replenishment. This was in response to a severe winter and higher natural gas prices, which offset lower export volume. Both Norfolk Southern Corp. (NSC) and CSX Corporation (CSX) saw coal revenue improvement of 7% and 6.5%, respectively.
Despite a favorable outlook for short-term coal prices, the long-term outlook for coal demand and prices remains bleak.
By: Sam Quest
This article was originally published in Bidness etc
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Sunday, 03 August 14
LACK OF COAL SHIPMENTS FROM FAR EAST/SE ASIA, THE PRESSURE ON CHARTER RATES CONTINUED THIS WEEK
COALspot.com: This week, the freight rates were almost flat as charter rates were also almost steady from last week.
The BDI was up by 2.59 pc ...
Friday, 01 August 14
UNCERTAINTY IN ASIAN COAL MARKETS WHERE INDEX-LINKED PRICING DOMINATES - SGX
COALspot.com: In the past 3 years, seaborne thermal coal markets have been in a state of constant oversupply.
Reuters expects this oversupply ...
Friday, 01 August 14
U.S PRODUCED 19.4 MMST OF COAL IN A WEEK, SAYS EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 19.40 million short tons (mmst) of coal in ...
Thursday, 31 July 14
CAPESIZE: CARGO VOLUMES, COAL IN PARTICULAR, PRESENTLY NOT SUFFICIENT TO EMPLOY A GROWING FLEET - FERNLEYS
Handy
Both the Atlantic and Pacific has improved in the supramax segment over the last week, said Fernleys in Its latest weekly report . There we ...
Thursday, 31 July 14
RIO TINTO SELLS MOZAMBIQUE COAL ASSETS FOR US$ 50 MILLION TO INDIA'S ICVL
COALspot.com: Rio Tinto has agreed to sell its Mozambique coal assets for just US$ 50 million to International coal ventures Private limited of Ind ...
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- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- The University of Queensland
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Minerals Council of Australia
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
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