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Friday, 14 February 20
IS THE US COAL INDUSTRY COMPLETELY BURNED OUT? -FORBES
 This is the fourth of a multi-part series on the state of the main sources of energy in the US and how they compare globally. The series will cover solar, wind, oil & gas, coal, nuclear, and geothermal (so far) and will answer the same four questions for each.
1. How big is the US coal industry, and what is its growth trajectory?
US coal employment peaked in the 1920s and the whole sector (mining, transport, and power plants) currently supports about 174,000 jobs. In 2018, US mines produced about 756 million short tons of coal, the majority of which (544 million short tons) was burned in coal-fired power plants to generate 966 billion kWh of electricity, about 24% of all electricity generated in the US.
However, coal has largely fallen out of favor for electricity production as price declines in natural gas and, to a lesser extent, renewables have made it harder for coal plants to make money in electricity markets. The average US coal plant is now over 40 years old, and there is not a single commercial coal plant under construction in the country. Some scenarios have coal generation remaining flat for the next couple of decades, but most market fundamentals and societal goals indicate further declines.
In the past decade, over 500 coal-fired power units have been retired, or announced their retirement. Further, it is estimated that over 85% of existing coal plants will be uneconomic compared to local renewables by 2025. These dire conditions have many states with regulated electricity markets scrambling to either financially support uneconomic coal plants or provide securitization strategies to allow them to retire early while still making good on their debts. As demand for coal has declined, almost a dozen coal mining companies have filed for bankruptcy in the past 5 years.
On the other hand, US coal exports have been trending upwards as the world economy continues its decade long recovery and demand for energy and goods continues to increase.
Over half of US coal exports are for making steel (metallurgical/coking coal) and the rest for electricity (steam/thermal coal). Major destinations for US coal exports are India (15%), The Netherlands (11%), and Japan (9%), among others. Some countries, largely led by China, are continuing to build coal plants, which could increase demand for US coal exports. Although, some western states have sought to block coal export terminals, forcing some US exports to depart through Canada.
2. Which US states lead in coal?
While Appalachia is home to the vast majority of individual coal mines, the relatively few number of mines in the western Powder River Basin (PRB) produce many more tons of coal annually. Of the 43% of US coal that comes from the PRB, 93% of that (40% of US total) comes from the state of Wyoming. West Virginia produced the second highest amount of US coal, almost 13% of total US production.
Although Texas only produces the poorest quality coal, lignite, it nonetheless consumes more coal than any other state, almost by a factor of two, even though its usage is down almost 20% (2018 vs. 2017). North Dakota consumes the most amount of coal for uses other than power generation.
3. What are the biggest challenges faced by the coal sector today?
By far the biggest realized challenge facing the US coal sector is economic pressure from low cost natural gas, and to a lessor, though growing, extent, renewables. The hydraulic fracturing boom has vastly increased the supply of natural gas, making it stubbornly cheap and the new firm fuel of choice in power generation. A recent study found that low cost natural gas prices was responsible for 85-90% of wholesale electricity price declines in some markets.
Also, the US is generally not building big power plants (of any type) anymore. Coal (and current generation nuclear) plants are generally built as large units to produce cheaper electricity. However, other technologies, such as gas and renewables, can be built in smaller sizes, for cheaper, and thus incur less capital risk, making them easier to finance. The US Department of Energy has made a push for small modular coal plants, but there doesn’t appear to be much traction as of yet.
The biggest existential threat faced by the US coal sector is by far climate change. Of the major fuels used to generate electricity in the US, coal produces the most carbon emissions. But technical and political times are changing. About 45% (and growing) of all electricity (by at least 2050) in the US has been pledged to be carbon-free and one of the easiest ways to start to make good on such promises is to shutter coal plants.
Coal’s future (at least for power production) appears to be burning out. Other technologies, such as gas and renewables, are beating coal on price, flexibility, and finance-ability. Absent significant improvements in carbon capture and sequestration technology, most developed markets, but not all, are likely to continue shuttering their coal fleets over the next couple of decades. However, the world is going to continue to need steel in the short and long-term, and while electric arc furnace metals recycling and new smelting technologies might help reduce the need for metallurgical coal and its associated emissions, the vast majority of steel is still currently made using coal.
Source: Forbes
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Wednesday, 12 June 24
CHINA ACCOUNTS FOR 16.3% OF AUSTRALIA'S COAL EXPORTS, FOLLOWED BY INDIA 14.4% - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels says Banchero Costa in its latest report.
...
Wednesday, 12 June 24
LNG NEWBUILDING VALUES AT RECORD HIGH: 78 NEWBUILD ORDERS PLACED IN 2024, DOUBLING 2023 - VESON NAUTICAL
The number of LNG newbuilding orders have more than doubled from the same period last year where 34 orders were placed, compared to 78 in the first ...
Monday, 10 June 24
CHINA'S MAY COAL IMPORTS RISE 11% ON LOWER DOMESTIC OUTPUT - REUTERS
China’s imports of coal rose 11% in May from a year earlier, customs data and Reuters records showed on Friday, as lower domestic output this ...
Tuesday, 04 June 24
HOW DO WESTERN SANCTIONS ON RUSSIA IMPACT THE GLOBAL METALS, MINING AND COAL MARKETS - WOOD MACKENZIE
The geopolitical landscape for Russia, as a major supplier of various commodities, has undergone a dramatic transformation since the invasion of Uk ...
Friday, 22 March 24
CASE STUDY: DANGERS OF COAL CARGO - SKULD
Recently, a bulk cargo vessel carrying coal from South Africa to Singapore suffered a fatal accident, resulting in the deaths of three crew members ...
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Showing 21 to 25 news of total 6871 |
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- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- White Energy Company Limited
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Posco Energy - South Korea
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- The University of Queensland
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Petron Corporation, Philippines
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