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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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Friday, 14 December 18
KOSPO INVITED BIDS FOR 320,000 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 4,300 kcal/kg NCV coal per ...
Friday, 14 December 18
KOSPO INVITES BIDS FOR 1,177,000 METRIC TONS OF COAL FOR Q1' 19 LOADING
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 701,000 MT of min 5,600 kcal/kg NCV coal and ...
Friday, 14 December 18
COAL IMPORT TO BE CHECKED BY RISING DOMESTIC PRODUCTION - FINANCIAL EXPRESS
The government’s effort to increase domestic coal production and power demand falling with the onset of the winters will check coal imports, ...
Thursday, 13 December 18
STRAITS AFFECTED BY TERRITORIAL DISPUTE BETWEEN SINGAPORE AND MALAYSIA - THE STANDARD CLUB
A recent territorial dispute has occurred between Singapore and Malaysia involving the Straits of Johor.
The Malaysian Attorney Gene ...
Wednesday, 12 December 18
SHIPPING MARKET INSIGHT - CHRISTOPHER WHITTY
China’s monthly iron ore imports dropped for the first time this year joined by declines in copper and soybeans as economic growth slows in t ...
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- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- Australian Coal Association
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- The University of Queensland
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- White Energy Company Limited
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
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