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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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Thursday, 13 September 18
SHIPPING IS INCREASINGLY CAUGHT IN THE TRADE WAR LINE OF CROSSFIRE - PETER SAND
Once again, the already long list of tariffed goods has been made even longer. Many more commodities were hit on 23 August, but September is likely ...
Wednesday, 12 September 18
THE INTERRELATIONSHIP BETWEEN LETTERS OF INDEMNITY AND CHARTERPARTY "TIME BAR" PROVISIONS - STANDARD CLUB
KNOWLEDGE TO ELEVATE
Introduction
A recent English Court of Appeal decision provides important guidance on the applicability of charterpar ...
Wednesday, 12 September 18
IS LNG POISED FOR A NEW GROWTH CYCLE? - WOOD MACKENZIE
Gas needs to work for its long-term sustainability. But the mood music is upbeat. Just 18 months ago the LNG market was depressed, anticipating an ...
Wednesday, 12 September 18
U.S. TOTAL COAL EXPORTS TO BE 107 MMST IN 2018 AND 101 MMST IN 2019 - EIA
EIA forecasts U.S. coal production will decline by 1% to 768 million short tons (MMst) in 2018, despite a 10% (10 MMst) increase in coal exports.
...
Wednesday, 12 September 18
MARINE BUNKERS: THE END OF THE WORLD AS WE KNOW IT - IBIA
KNOWLEDGE TO ELEVATE
The world of bunkers is heading for rapid and fundamental changes and not just because of the 0.50% sulphur cap in 2020. ...
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Showing 1621 to 1625 news of total 6871 |
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- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- MS Steel International - UAE
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Independent Power Producers Association of India
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
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