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Tuesday, 18 September 18
COOLING OUTLOOK FOR COAL - KATE JONES
.jpg) At a time of increasing focus on the renewables market as the world seeks to clean up its act to prevent climate change, what is the outlook like for coal? If an August report from Statistics Market Research Consulting (Stratistics MRC) is anything to go by, the answer to that question appears to be, ‘not as bad as one might fear’.
The report, Coal Industry – Global Market Outlook (2017-2026), forecasts the global coal market to grow at a compound annual growth rate of 12.5% from 2017 to 2026 — and hit $34.65m by the latter year. An enlarging manufacturing base, rising economic growth and increasing electricity demand are some of the key factors propelling the growth, according to the study, though the report did claim that price instability is restricting market enlargement. Furthermore, the world coal market accounted for $11.93m last year. Based on geography, growth in the market during 2017-2026 is anticipated for the Asia-Pacific region —several nations in the area, such as China and Japan, lack energy resources and are therefore importing to meet requirements.
The world of the product
However, this positive picture stands somewhat alone. At the end of August, it was reported that a push to lessen the development of coal mines, as well as growing investor pressure to divest from fossil fuels, is generating a mining industry division between businesses leaving the sector and companies vowing to stay in it. Banks that have reportedly brought lending for new coal mines to a halt include Deutsche Bank and the Royal Bank of Scotland, while new project spending has dropped 80%, from $10bn in 2012 to $2.2bn this year. This trend, along with a government-led campaign in China to cut supply of domestic coal to reduce pollution, has made the coal price almost double over the last three years — to trade at $113 a tonne.
But some companies are staying in the industry or enlarging their presence. For the world’s biggest miner, BHP, there is confidence in coal’s staying power.
“The world, rightly or wrongly, is going to be using a lot of thermal coal,” claimed Peter Beaven, BHP’s chief financial officer, referring to the kind of coal used in power stations. The company has no plans to sell its coal assets — and neither does the biggest producer of seaborne coal for export globally, Glencore. In fact, Glencore is in expansion mode. This year, it purchased a 49% share in a Yancoal-operated thermal coal project in New South Wales in Australia and bought Rio Tinto’s Hail Creek coal mine in Queensland, also in Australia, for $1.7bn. The company reportedly made $2bn from its coal division in H1 2018, with the business estimating that at current prices, coal will be its largest earnings driver for the full year. Macquarie Group analysts describes the organisation as “slowly stepping into the breach, quietly consolidating its position in an unpopular sub-sector of the mining industry”.
However, not all coal miners have had such good fortune. In March, Rio Tinto sold its last coal mine to EMR Capital and Adaro Energy for $2.25bn, while South32 plans on selling its South African thermal coal assets to local investors later in 2018. South32 chief executive Graham Kerr has reportedly argued that thermal coal is increasingly becoming a focus of meetings with investors.
“Every six months, they tell you they can’t invest in you,” he noted.
What’s more, coal could soon find itself eclipsed by renewables. Fitch Solutions said at the end of August that renewable energy will play an increasingly important role in powering mining operations across the globe over the coming years, while Alexa Capital co-founder Gerard Reid has said that because wind and solar power have already become less expensive than coal-fired power in many parts of the world, a renewables move could happen faster than many believe.
The mixed messages mirror the division among investors and analysts over coal: while both the Church of England Pensions Board and BMO Global Asset Management have both turned away from supporting coal, Norway’s $1tr sovereign wealth fund (which owns Glencore shares), has said it would only exclude companies “which themselves, or through entities they control, derive 30% or more of their income from thermal coal”.
Area focus
Yet, Stratistics MRC’s prediction of Asia-Pacific coal market growth resonates with other indicators for the field. BP predicted that coal would likely stay the dominant energy source in Asia as late as 2040, while the Australian Bureau of Statistics said that Australia’s coal mining industry increased capital expenditure by 20% in 2017-18 to $3.5bn. However, analysts are split on how fast the planet’s largest coal consumer, China, will move away from the commodity. According to official figures, its coal consumption went up just 0.4% last year.
However, BHP, despite feeling that coal is set to “progressively lose competitiveness to renewables on a newbuild basis in the developed world and in China”, predicts that the crossover point will not be reached until the end of the next decade and says that coal power “is expected to retain competitiveness in India and other populous emerging markets for a much-longer time”.
As for the US, it was reported at the end of last month that US President Donald Trump was pushing forward with his endeavours to revive the US coal mining sector and that the Environmental Protection Agency claimed it was planning to repeal previous president Barack Obama’s Clean Power Plan, relaxing coal-fired power plant regulation. US coal miners like Peabody will no doubt be pleased by this shift in emphasis — its shares are up by 7% in the year to date, having reportedly been boosted by President Trump’s coal-supporting efforts.
Source: The Baltic Briefing
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Wednesday, 06 February 19
FEBRUARY 2019 INDONESIA'S COAL REFERENCE PRICE FELL 8.83 PERCENT YOY
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
Wednesday, 06 February 19
THE BDI HAS EASED BACK TO 645 BP, ITS LOWEST LEVEL SINCE AUGUST 2016 - ALLIED
The dry bulk sector is in the doldrums, with most market participants seemingly left utterly perplexed, and simultaneously, in pursuit of any posit ...
Monday, 04 February 19
COAL STILL IN HIGH DEMAND GLOBALLY
Although the world is switching to renewable energy there is still a big demand for coal around the globe.
This is according to Cany ...
Friday, 01 February 19
ULTRAMAX WAS FIXED DELIVERY KALIMANTAN, FOR TRIP TO WEST COAST INDIA AT $7,000 - BALTIC BRIEFING
Capesize
The Vale dam tragedy sparked a sharp fall in rates across all regions even where tonnage remained tight. The potential loss of product ...
Friday, 01 February 19
SEMBCORP SELECTS NORDEN FOR LONG-TERM INDIAN CONTRACT
NORDEN A/S has signed a 10-year Panamax Contract of Affreightment (COA) with Indian utility firm Sembcorp Energy India Ltd.
From 1 A ...
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- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- The University of Queensland
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
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