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Sunday, 09 May 21
HERE'S WHY INVESTORS ARE POURING MONEY INTO COAL, DESPITE ITS BLEAK FUTURE - FORBES
Coal stocks have surged this year – along with the wider energy sector – but experts warn these are likely short-term gains for an industry facing a bleak future as regulators, activists and global governments seek to cut use of fossil fuels to reduce greenhouse gas emissions.
The Coal Footprint in the USA is Bigger Than Just West Virginia
Key Facts
• Coal stocks are benefitting from the upturn in the broader energy sector on expectations of increased demand amid an economic recovery, Tony Zabiegala, chief operating officer at Strategic Wealth Partners in Independence, Ohio, told Forbes.
• Zabiegala added that while coal investors may see some near-term gains this year, they’re facing a longer-term uphill battle as the momentum of investing gravitates towards “green energy” stocks and away from fossil fuels.
• Coal stocks are also benefiting from rising prices of its main rival, natural gas, Tony Scott, managing director of analytics at BTU Analytics, a Denver-based energy analysis and consulting firm, told Forbes.
• Scott noted that some power plants located in the Midwest and Northeast, areas with access to the lowest cost coal, may switch from gas to coal as it’s cheaper to use now.
• Longer term, Scott cautioned, coal generation still “remains at risk” as both federal and state policies target lower carbon emission goals.
• Ed Egilinsky, managing director and head of alternative investments at Direxion, an exchange-traded fund provider, told Forbes that most coal stocks are micro-cap and small-cap in size, a segment of the market that has performed well this year.
Crucial Quote
“I wouldn’t touch coal stocks with a 10-foot pole now [or] in the future. With worldwide government regulation getting tighter and tighter, this presents major headwinds for coal companies. Plus, with the push for alternative energy, investors are already looking to position assets towards clean energy stocks rather than fossil fuel type of energy companies,” said Zabiegala.
Key Background
Stocks in the coal sector have jumped 33.5% year-to-date through Wednesday, according to TradingView, a trading platform, far outperforming the broader S&P 500 index which has gained about 11%. Some coal stocks, including Peabody Energy, CONSOL Energy and Hallador Energy, have surged 96.7%, 65.6%, and 64.6% year to date, respectively. However, by most parameters, the U.S. coal industry is in decline, raising questions about these companies’ long-term viability. Many major countries have planned to phase out their coal industries in the coming years, including Germany, Canada, U.K. and France. The U.S. Energy Information Administration (EIA) said that coal production in the fourth quarter of 2020 plunged 18.8% compared with the same period in 2019. Coal consumption in the U.S. dropped by 6.9% over that period. U.S. coal exports plummeted 26% between 2019 and 2020, EIA noted. Various coal-powered plants in the U.S., including American Electric Power’s Rockport plant in Indiana and The Tennessee Valley Authority, plan to shutter coal plants in the next few years.
Big Number
339. That’s how many coal-powered plants have been retired – or are on their way to shutting down – in the U.S. since 2010, according to environmentalist group the Sierra Club, while 191 plants remain active.
Surprising Fact
But the global coal industry is not dead yet. The world’s two largest coal consumers – China and India– plan to increase consumption this year, according to EIA. China and India alone account for two-thirds of global coal use to feed their escalating electricity demand. Despite China’s pledge to start phasing out coal beginning in 2026 and cut greenhouse gas emissions to net zero by 2060, Beijing officials declared that coal will remain a key part of China’s energy mix. Li Gao, head of the climate change office at China’s Ministry of Ecology and Environment, recently said China will still need to construct more coal-powered plants to guarantee a stable energy supply. Nonetheless, Zabiegala says with innovations in green energy, the global consumption of coal “will decrease-but we are several decades away from turning that corner.”
Tangent
President Biden has committed to cut greenhouse gas emissions in the U.S. by 50%-52% by 2030 over 2005 levels. Researchers, including the Center for Global Sustainability at the University of Maryland, have determined that to meet Biden’s 2030 climate goals, all remaining coal plants in the U.S. must shut down by then.
What To Watch For
Pierce Crosby, general manager, at TradingView, told Forbes that although coal and non-renewable energy companies have yet to be hit by any aggressive regulatory restrictions from the Biden administration, “if we see more demand for stricter penalties around non-renewables, these companies could sink quickly.”
Source: Forbes
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Wednesday, 14 April 21
MARKET INSIGHT - INTERMODAL
After a series of months where the dry bulk sector was attracting most of the buying interest, tankers SnP activity spiked in the previous weeks. O ...
Tuesday, 13 April 21
INDONESIAN COAL PRICE REFERENCE IN APRIL UP AGAIN ON FIRM DEMAND
COALspot.com: The Indonesia coal price reference for April 2021 settles at US$ 86.68 per ton FOB vessel.
The Indonesia coal pr ...
Monday, 12 April 21
CHINA'S ECONOMIC RECOVERY PUSHES COAL MINES TO INCREASE YIELD - GLOBAL TIMES
China’s fast economic rebound from coronavirus has driven up electricity demand, leading to higher consumption of coal which is seeing rising ...
Monday, 12 April 21
GLOBAL COAL PRODUCTION EXPECTED TO RISE BY 3.5% IN 2021, SAYS GLOBALDATA
Global coal output is estimated to have declined by 2% in 2020 due to COVID-19-related lockdowns and restrictions, with significant reductions obse ...
Wednesday, 07 April 21
KOMIPO ISSUED A TENDER FOR TOTAL 1,560,000 METRIC TONS OF BITUMINOUS COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for total 1,560,000 Metric Tons of Bituminous coal for i ...
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- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- MS Steel International - UAE
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- The University of Queensland
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Parliament of New Zealand
- Planning Commission, India
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- Xindia Steels Limited - India
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
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