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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, 13 July 14
PANAMAX INDEX GAINS SLIGHTLY THIS WEEK; CAPE INDEX FALLS ALMOST 21.40%
COALspot.com: This week the freight market fell again after gaining last week. The cape index was down almost 21.40 pct and closed at 1465 points.
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Friday, 11 July 14
EUROPE HAS A SUBSTANTIAL SURPLUS IN COAL SUPPLIES; RENEWABLE ENERGIES ARE REDUCING THE FULL-LOAD OPERATING HOURS OF HARD COAL-FIRED POWER PLANTS - VDKI
COALspot.com: General conditions for coal-fired power plants must be improved if the energy turnaround is to be a success, said German coal importe ...
Friday, 11 July 14
DR.CIESLIK RE-ELECTED AS CEO OF GERMAN COAL IMPORTER ASSOCIATION (VDKI)
Press Release : Dr Cieslik re-elected as CEO of German Coal Importer Association (VDKi) for the period 2014 – 2018. The German Coal Importer ...
Friday, 11 July 14
PORT OF NEWCASTLE SHIPPED $ 1.031 BILLION WORTH OF 11.744 MILLION TONS OF COAL IN JUNE 2014
COALspot.com: Port of Newcastle has shipped 11,744,396 tons of coal for the month ended 30 June 2014. According to Port’s monthly report, YTD ...
Friday, 11 July 14
UNITED STATE'S MONTHLY COAL OUTPUT FALLS 5.53% IN JUNE
COALspot.com – United States the world's second largest coal producer, produced approximately 18.1 million short tons (mmst) of coal in a ...
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- Medco Energi Mining Internasional
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- Indian Energy Exchange, India
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Planning Commission, India
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
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