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Wednesday, 13 January 16
U.S. COAL PRODUCTION DECLINED BY 109 MMST IN 2015; COAL EXPORTS DECREASED 21% Y-O-Y
.jpg) COALspot.com: U.S. coal production declined by 109 million short tons (MMst) (11%) in 2015, the largest decline ever recorded, says EIA.
The 2015 drop in production occurred in all coal-producing regions, with the largest percentage decrease occurring in the Appalachian region (15%). Production in the Interior region, which includes the Illinois Basin, declined by 11% in 2015, which was the first decline in that region since 2009. Western region production declined by 9%, with production below 500 MMst for the first time since 1998, EIA says in its latest short-term energy outlook.
According to EIA’s short-term energy outlook, U.S. coal production continues to decline over the next two years. Production is projected to fall by 38 MMst (4%) in 2016 and by an additional 9 MMst (1%) in 2017.
However, Interior region production, which accounted for only 13% of coal production 10 years ago (2006), is projected to account for 20% of production in 2016 and 2017. This increase in share reflects the region's growing competitive advantages compared to the other coal-producing regions. These factors include the higher heat content of the coal, closer proximity to major markets than coal produced in the Western region, and lower mining costs than Appalachian-produced coal. Appalachian production, which accounted for 34% of production 10 years ago, is projected to decline to 24% in 2016 and 2017. The Western region's share, which was 53% 10 years ago, increases to 56% in 2016 and 2017.
US’s Electric power sector coal stockpiles were 176 MMst in October, an 8% increase from September, which is similar to the typical seasonal pattern. October coal inventories averaged 155 MMst during the previous 10 years (2005-14). Coal stockpiles are still relatively high because of the loss in market share to natural gas for power generation.
Coal Consumption
EIA estimates that, the coal consumption in U.S. decreased by 11% in 2015, mainly as a result of an 11% drop in electric power sector consumption. Lower natural gas prices are the primary driver of the decrease in coal consumption. Low natural gas prices make it more economical to increase generation at natural gas-fired units and to decrease generation at coal-fired units. Retirements of coal-fired power plants, stemming from both increased competition with natural gas generation and the implementation of the Mercury and Air Toxics Standards (MATS), also reduce coal-fired generation capacity, but the full effect will not be evident until 2016.
Higher forecast natural gas prices in 2016 and 2017 are expected to contribute to higher utilization rates among the remaining coal-fired power plants. This higher utilization rate somewhat mitigates the effect of lower consumption from coal-plant retirements. Coal consumption in the electric power sector is forecast to remain relatively unchanged in 2016. In 2017, increases in nuclear (1%), hydropower (8%), and other renewable-based (12%) electricity generation are forecast to contribute to a 1% decline in electric power sector coal consumption.
Coal Trade
Slower growth in world coal demand and lower international coal prices have contributed to a decline in U.S. coal exports. Lower mining costs, cheaper transportation costs, and favorable exchange rates will continue to provide an advantage to mines in other major coal-exporting countries compared with U.S. producers over the next few years.
EIA estimates, the U.S. coal exports have decreased 20 MMst (21%) from 2014 levels to 77 MMst in 2015. The current global coal market trends are expected to continue, and coal exports are forecast to decline by an additional 9 MMst (12%) in 2016 and by 2 MMst (4%) in 2017.
While, the U.S. coal imports, which were 11 MMst in 2014, remained at that level in 2015. Coal imports, primarily from Latin America, are forecast to maintain their market share with power generators along the Atlantic and Gulf coasts, as imported coal's delivered price in those markets remains competitive with prices for domestically produced coal. Imports are projected to average just under 11 MMst in 2016 and 2017.
Coal Prices
The annual average price of coal to the electric power sector averaged $2.36/MMBtu in 2014. EIA estimates the delivered coal price averaged $2.23/MMBtu in 2015.
Forecast prices are $2.19/MMBtu in 2016 and $2.20/MMBtu in 2017.
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Wednesday, 20 January 16
SHIPPING MARKET INSIGHT - NASOS SOULAKIS
If you believe in the “January effect”, the theory according to which the beginning of a new year has a positive effect on financial in ...
Tuesday, 19 January 16
HAPPY NEW YEAR, COAL PRODUCERS! OR MAYBE NOT - ANDY ROBERTS
To coal producers, 2015 must have seemed far longer than 365 days. From their perspective, as bad as markets were at the beginning of the year, and ...
Tuesday, 19 January 16
COALTRANS ASIA IS RETURNING TO BALI
22nd Coaltrans Asia
Coaltrans Asia is returning to Bali to bring together over 1000 industry decision makers and thought leaders for three day ...
Monday, 18 January 16
INDONESIAN 5700 GAR COAL INDEX ROSE 0.60% WEEK OVER WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline slightly week over week to averaging $39.93 per ton on this past Friday, acc ...
Monday, 18 January 16
BALTIC DRY SHIPPING INDEX DROPS TO 373 POINTS; DECLINE 13% WEEK OVER WEEK
COALspot.com: The freight market dropped this week as the BDI declined further 13 percent to 373 points week over week. The Cape index ...
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- Electricity Authority, New Zealand
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- Planning Commission, India
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- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
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- Romanian Commodities Exchange
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
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- Altura Mining Limited, Indonesia
- MS Steel International - UAE
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- Australian Commodity Traders Exchange
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- Energy Development Corp, Philippines
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- Global Green Power PLC Corporation, Philippines
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- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
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- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
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- Ministry of Finance - Indonesia
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- Parliament of New Zealand
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- Latin American Coal - Colombia
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
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- Merrill Lynch Commodities Europe
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- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
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- Directorate General of MIneral and Coal - Indonesia
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- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
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- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Mjunction Services Limited - India
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Australian Coal Association
- Goldman Sachs - Singapore
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- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
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- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
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