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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 $3.5bn. However, analysts are split on how fast the planet’s largest coal consumer, China, will move away from the commodity. According to official figures, its coal consumption went up just 0.4% last year.
However, BHP, despite feeling that coal is set to “progressively lose competitiveness to renewables on a newbuild basis in the developed world and in China”, predicts that the crossover point will not be reached until the end of the next decade and says that coal power “is expected to retain competitiveness in India and other populous emerging markets for a much-longer time”.
As for the US, it was reported at the end of last month that US President Donald Trump was pushing forward with his endeavours to revive the US coal mining sector and that the Environmental Protection Agency claimed it was planning to repeal previous president Barack Obama’s Clean Power Plan, relaxing coal-fired power plant regulation. US coal miners like Peabody will no doubt be pleased by this shift in emphasis — its shares are up by 7% in the year to date, having reportedly been boosted by President Trump’s coal-supporting efforts.
Source: The Baltic Briefing
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Monday, 08 October 18
KOMIPO INVITES BIDS FOR 520,000 TONS OF COLOMBIAN ORIGIN OF 5,700 NAR COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 520,000 MT of min. 5700 NAR coal of Colombian origin ...
Sunday, 07 October 18
SUPRAMAX: INDO-INDIA USUAL COAL RUNS WERE COVERED AT US$ 12K - FEARNLEYS
Capesize
Average daily earnings up close to 15 pct in 5 trading days, thus patience finally paying off for owners of the big ships - Chinese play ...
Sunday, 07 October 18
A CASE FOR 20/20 VISION? IMO'S LOW SULPHUR FUEL LIMIT UNDER MARPOL ANNEX VI WHICH COMES INTO FORCE ON 1ST JANUARY 2020
KNOWLEDGE TO ELEVATE
The implementation of the global 0.5% sulphur cap for bunker fuel under MARPOL Annex VI in just under 18 months’ ti ...
Friday, 05 October 18
COAL PRODUCTION REACHES 64% OF 2018 TARGET : THE JAKARTA POST
National coal production up to August has already reached 311 million tons, or 64 percent of this year's total target of 485 million tons, acco ...
Wednesday, 03 October 18
VALUE OF AUSTRALIAN COAL EXPORTS TIPPED TO DECLINE SHARPLY OVER NEXT 18 MONTHS - THE GUARDIAN
Thermal coal prices forecast to drop 25% and metallurgical coal prices 23% as value of iron ore exports also falls
The value of Aust ...
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- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
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