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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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Tuesday, 22 January 19
9TH GLOBAL MANUFACTURING SUPPLY CHAIN INNOVATION SUMMIT 2019
Rethinking the supply chain in manufacturing is a must at the digital era along with the industry transforming and innovating; new manufacturing is ...
Tuesday, 22 January 19
AUSTRALIA'S YANCOAL PRODUCED 50 MMT SALEABLE COAL IN 2018 UP 59 PER CENT ON THE YEAR PRIOR, THE QUARTERLY REPORT SHOWS
According to the report, the miner's quarterly (Q4' 18) saleable coal production of 12.4 Mmt. Includes 10.5 Mmt (85 per cent) from the Comp ...
Monday, 21 January 19
KOSPO INVITING BIDS FOR 320K MT OF LOW CALORIFIC VALUE COAL
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 320,000 MT of min 3,800 kcal/kg NCV low calo ...
Monday, 21 January 19
SUPRAMAX: INDONESIAN COAL RUNS, TONNAGE WAS GIVING APS DELIVERIES AND A 57,000DWT SHIP FIXED AT $7,000 FOR A TRIP TO WEST COAST INDIA - BALTIC BRIEFING
Capesize
A positive end to a week that saw rates on the West Australia/China run slip below $6.00, as charterers faced a plentiful supply ...
Monday, 21 January 19
HARD COAL WORLD TRADE IN 2018 RISES BY 3.7 PER CENT; GLOBAL HARD COAL PRODUCTION INCREASES BY 1.7 PER CENT - VDKI
Global Hard Coal Production Increases By 1.7%.
According to provisional calculations by the German Coal Importer Association (VDKi), ...
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- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Australian Coal Association
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
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