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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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Monday, 03 February 20
KOWEPO INVITING BIDS FOR 2.46 MILLION TONS OF MIN.5700 AND MIN.5600 NCV COAL
COALspot.com: South Korea’s Korea Western Power Co., Ltd. (KOWEPO) has issued an international tender for total 2,460,000 tons of (Sub) Bitum ...
Sunday, 02 February 20
NOVEL CORONAVIRUS OUTBREAK IN CHINA - STANDARD CLUB
Members will be aware of the recent novel coronavirus outbreak in China, which has now been declared a global emergency by the World Health Organis ...
Sunday, 02 February 20
SUPRAMAX: A 52,000DWT SHIP WAS FIXED BASIS DELIVERY SOUTH KALIMANTAN TRIP TO INDIA, AT $6,000 - BALTIC BRIEFING
Capesize
The week proved conspicuous for all the wrong reasons. This was the week when the Baltic Capesize Index (BCI) turned negative, closing ...
Saturday, 01 February 20
50 MILLION PEOPLE QUARANTINED IN CHINA TO CONTAIN SPREAD OF CORONAVIRUS - HOW DOES IT AFFECT SHIPPING? - BIMCO
The outbreak of the novel coronavirus, declared a global health emergency by the WHO, has caused massive uncertainty across the global markets with ...
Saturday, 01 February 20
THERMAL COAL MARKETS: 5 TRENDS TO WATCH OUT FOR IN 2020 - MINING REVIEW
The seaborne thermal coal market entered the year challenged by low priced LNG in the Atlantic and rapidly increasing supply in the Pacific.
&n ...
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- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Central Electricity Authority - India
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- White Energy Company Limited
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
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