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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, 02 November 18
COAL FETCHES 102% PREMIUM IN E-AUCTION, SURPASSING THE EARLIER HIGHEST OF 95% - FINANCIAL EXPRESS
Coal prices have received a premium of 102% in spot e-auction during September 2018, surpassing the earlier highest of 95% premium during the spot ...
Friday, 02 November 18
CHINA: COAL CONSUMPTION POSTS STRONG GROWTH ON BACK OF POWER GENERATION DEMAND - CHINA DAILY
China’s energy consumption experienced continuous rebound during the first three quarters in 2018, National Energy Administration announced o ...
Thursday, 01 November 18
IMO 2020 - EXPLORING THE OPTION OF SOX SCRUBBERS - SIDDHARTH MAHAJAN, GARD
KNOWLEDGE TO ELEVATE
There are four possible methods of compliance:
1.use VLSFO (very low Sulphur oil) or blends;
2,use dis ...
Wednesday, 31 October 18
INDIA: COAL IMPORTS SURGE ON DOMESTIC SHORT SUPPLY - HINDU
Shortage of thermal coal supply in India has pushed imports up to 85 million tonnes (mt) in the first half of the current fiscal compared to 75 mt ...
Wednesday, 31 October 18
SHIPPING MARKET INSIGHT - APOSTOLOS ROMPOPOULOS
Since the IMO’s 2020 global cap on sulphur in marine fuels is coming into force, ship-owners have to decide whether they will operate using e ...
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- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Planning Commission, India
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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