We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Tuesday, 17 November 20
COAL SQUEEZE INTENSIFIES - BALTIC EXCHANGE
 The message from the top is clear: cut out coal. While the regulatory pressure has been evident for some time, the race to banish the black stuff stepped up a notch last week when a $5 trillion valued institutional investor group made up of many of the world’s largest insurers and pension schemes warned the companies they invest in not to finance, insure, build, develop or plan new thermal coal plants.
The statement came from the Net-Zero Asset Owner Alliance, whose members include Zurich, Allianz, Wespath and Munich Re.
The objective of the Group’s Thermal Coal Position paper is to encourage transition pathways towards decarbonisation. “Together, investors, governments and companies all have a responsibility to act on global emissions reduction. Additional thermal coal developments for energy generation are ultimately irreconcilable with the exercise of this responsibility,” the Alliance said.
The position paper is the latest in a stream of anti-coal rhetoric, putting increasing pressure on seaborne volumes through the 2020s. One recent coal casualty has been the withdrawal of investors in a South African multi-billion-dollar coal-fired power plant project, the 630 megawatt Thabametsi coal-based power plant project in the northern Limpopo province.
South Africa’s biggest state pension fund manager the Public Investment Corporation, and the Industrial Development Corporation, are no longer supporting the project, which was planned to come online in 2021. Newswire Reuters reports that the Development Bank of Southern Africa is also reassessing the project to determine if it is in line with its policy of a “just transition towards a low carbon economy”.
Falling from the peak
In the US, coal consumption has been declining since its peak in 2017 of 1.1 billion short tons. In 2019, US coal consumption totalled 590 million short tons, according to the US Energy Information Administration (EIA). However, despite projected growth in natural gas and renewable energy use to generate electricity through 2050, the EIA’s Annual Energy Outlook 2020 projects in its reference case that coal and nuclear power plants will collectively provide more than 25% of generation through 2050. End consumers and investors are pushing for that percentage to be reduced before the 30-year projection window is up.
According to data from the EIA, 121 US coal-fired power plants were repurposed to burn other types of fuels between 2011 and 2019, 103 of which were converted to or replaced by natural gas-fired plants. At the end of 2010, 316.8 gigawatts of coal-fired capacity existed in the US, but by the end of 2019, 49.2 gigawatts of that amount was retired, 14.3 gigawatts had the boiler converted to burn natural gas, and 15.3 gigawatts was replaced with natural gas combined cycle.
As the US coal-fired electric generation fleet continues to manage challenges from emission standards and low prices for natural gas, the EIA expects more of these conversions to take place in the future. The Administration has already been notified of eight planned natural gas combined cycle projects, five of which are currently under construction, which will replace existing coal plants.
Across the Atlantic, increased pressure is coming from the European Commission, which published revised emission reduction targets for 2030 in September, requiring greenhouse gas emissions to be reduced by at least 55% by 2030, compared with 1990 levels. This equates to a near-exit from coal by 2025, according to a report from consultant Climact and think-tank Ecologic analysing the EC’s impact assessment. The analysis found that coal could only represent around 2% of the EU’s energy mix under any scenario meeting the target, down from the previous target of 15%.
In its own impact assessment, the EC states that it expects coal to become “marginal in final energy demand in 2030, driven by reductions in industry and the declared policies in a number of Member States to reduce coal for heating purposes, as well as the required increase in uptake of renewables”. While most EU countries have set coal phase-out plans that would end its use before 2030, Romania, Bulgaria, Czechia, Slovenia and Croatia have not set any coal phase-out date yet.
Local law changes are also putting the dampeners on future global coal supply. For example, in Vietnam a new law on public-private partnerships (PPP) that comes into effect next year creates new hurdles for foreign coal investors. The Institute for Energy Economics and Financial Analysis’ energy finance analyst Thu Vu predicts that the new regulatory challenges, coupled with market challenges, will likely prove too onerous for foreign investors in four of the 15 remaining coal power projects in Vietnam’s pipeline: Nam Dinh 1, Vung Ang 2, Vinh Tan 3 and Song Hau 2. These projects have not yet reached the commissioning phase, with contractual agreements still waiting for official sign-off.
“South Korean, Japanese and Chinese investors will likely struggle with changes brought about by the new PPP Law,” said Vu. “In provinces such as Binh Thuan where the proposed Japanese-backed Vinh Tan 3 will reside, renewable energy alternatives have been tried and tested in the past two years, with more solar and wind capacity awaiting in the pipeline. Vung Ang 2’s Ha Tinh province is also seeing a pick-up in renewable investments. Furthermore, local opposition to more polluting coal power in these areas is fierce, compromising the ability of project sponsors to mobilise local government support for their projects.”
Thermal coal imports are still expected to rise in 2020 into the Southeast Asia region as a whole – indeed, the ASEAN region may be the only remaining bright spot for coal as other regions put the squeeze on demand and production. In recognition of this the ASEAN Centre for Energy and the World Coal Association signed a Memorandum of Understanding last week with WCA chief executive Michelle Manook stressing that coal is a “critical enabler in emerging economies for economic growth, particularly those across the ASEAN region. Ms Manook added that the ASEAN region has the right to affordable sources of energy and to build their societies through the crucial role coal plays in steel and cement production – offering a pocket of hope for those in the coal broking, trading and moving industries.
Source: Baltic Exchange
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Friday, 14 August 20
EIA: COAL PLANTS UNECONOMICAL IN MOST REGIONS - IEEFA
U.S. coal power generation plunged by 30 percent in the first half of 2020 off an already-depressed base, shoved out by natural gas and renewables ...
Thursday, 13 August 20
INDIA SHOULD RECORD A SLIGHT DECREASE IN THERMAL COAL IMPORTS, REACHING A VOLUME OF 167 MILLION TONS BY THE END OF 2020 - ASSOCARBONI
Regarding 2020 thermal coal imports forecasts, Vietnam’s coal imports showed a very strong growth in the first half of 2020 and it is believe ...
Thursday, 13 August 20
INDONESIA REMAINS THE LARGEST EXPORTER OF COAL IN THE WORLD - ASSOCARBONI
According to the last Assocarboni data for 2019, Indonesia remains the largest exporter in the world. Thermal coal exports have in fact reached 456 ...
Wednesday, 12 August 20
VIETNAM WAS THE PROTAGONIST OF A SIGNIFICANT INCREASE IN COAL IMPORTS IN 2019 - ASSOCARBONI
The latest Assocarboni data for 2019 also provide a detailed picture on the trend of the global coal import.
According to Assocarbon ...
Wednesday, 12 August 20
THE COAL MARKET IN ITALY - ASSOCARBONI
Italy, which in 2019 reported a decrease in thermal coal imports, with a volume of 7,5 million tons (-32% compared to 11 million tons in 2018), whi ...
|
|
|
Showing 831 to 835 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- PTC India Limited - India
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Economic Council, Georgia
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
|
| |
| |
|
