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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, 18 December 18
COAL OUTLOOK BULLISH DESPITE WEAK CHINESE IMPORT DATA - HEREN, ICIS
Coal prices may appreciate over the remainder of 2018 even despite recent data showing falling imports from the world’s largest producer and ...
Tuesday, 18 December 18
TOBA BARA ACQUIRES SHARES OF PT BATU HITAM PERKASA
PT Toba Bara Sejahtra Tbk, through its subsidiary PT Toba Bara Energi (“TBE”), has acquired shares ...
Monday, 17 December 18
SUPRAMAX THERE WAS STRONGER DEMAND FROM SOUTHEAST ASIA, WITH MORE COAL BEING SHIPPED - BALTIC BRIEFING
Capesize
A positive end to last week after a somewhat uncertain start as some gains made were eroded. Rates recovered later for West Australia/ ...
Monday, 17 December 18
SOUTH KOREA STATE-OWNED UTILITY KOREA EAST-WEST POWER CO. LTD ISSUED A TENDER FOR MAX 3.220 MILLION TONS OF 4200 TO 5900 NAR COAL
COALspot.com: South Korea state-owned utility Korea East-West Power Co. Ltd (EWP) issued a tender for max 3,220,000 Metric Tons of coal to be loade ...
Saturday, 15 December 18
COMING CHANGES IN MARINE FUEL SULFUR LIMITS WILL AFFECT GLOBAL OIL MARKETS - EIA
International regulations limiting sulfur in fuels for ocean-going vessels, set to take effect in January 2020, have implications for vessel operat ...
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- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Australian Coal Association
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
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