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Tuesday, 13 December 22
WHY COAL LEADS THE RISE IN COMMODITIES THIS YEAR - MARKETWATCH
This year marked a resurgence for coal, often known — and loathed — by environmentalists as the dirtiest energy source, with prices more than doubling since the end of last year.
Traders are now torn between prospects for a continued rally and a pullback on the heels of global efforts toward net-zero emissions.
Based on the most-active contracts traded on ICE, futures for Newcastle coal NCFF23, -1.61%, the Asian-Pacific region benchmark for thermal coal that’s exported from the Newcastle coal terminal in Australia, was at $408.80 on Dec. 6, up 141% from Dec. 31, 2021, according to FactSet data. Coal’s gain this year leads the overall rise among major commodities.
Tight supply due to wet weather in Australia hampering production; strong demand from India, China, and others; and the European energy crisis” all contributed to strength in coal prices, says Will Rhind, founder and CEO of GraniteShares, which runs the GraniteShares Bloomberg Commodity Broad Strategy No K-1COMB +0.38% exchange-traded fund COMB, +0.52%.
Following Russia’s invasion of Ukraine, European countries scrambled to replace Russian energy with alternatives, as Russian natural-gas supplies to Europe were mostly cut off. China has been “extracting record amounts of coal from its own mines as it seeks to insulate itself from the volatility seen in global energy markets,” says Rhind. “Outages from other European energy sources, such as hydro and nuclear plants…exacerbated the situation.”
Overall, “coal remains the largest source of electricity in the world,” he says. It’s the “cheapest to mine, easy to transport, and efficient to burn.”
Coal accounted for about 36.5% of the global power mix in 2021, followed by natural gas with a 22% share, according to Statista. In the U.S., coal accounted for 21.9% of the total 2021 amount of electricity generated at domestic power facilities, while 38.4% was sourced from natural gas, according to the Energy Information Administration.
Global supply of high quality thermal coal has been tight since before the invasion of Ukraine, says Wendy Schallom, coal analyst, analytics, at S&P Global Commodity Insights. The resulting ban on imports of Russian material by the European Union, Japan, and others, and the search for replacement coal, exacerbated the spot coal price rise, she adds.
There has also been a “diversion of coal supply,” originally destined for Asia, moving to Europe to replace the high-quality Russian supplies, says Schallom.
“Fuel switch price signals” had been firmly in favor of hard coal generation since the fourth quarter of 2021, she says, but the recent sharp fall in European gas hub prices means that those price signals reversed in October, with coal-to-gas switching settling in for the first time in more than a year.
If European gas prices recover as expected, fuel switch price signals will reverse again, with gas-to-coal switching likely to soon return, Schallom says. “This will put renewed pressure on German gas and support German hard coal generation.”
Meanwhile, it isn’t surprising that strong use of coal represents a setback in the world’s efforts to meet net-zero emissions by 2050. Developed nations need to entirely eliminate coal plants by 2030, and the rest of the world by 2040, to meet that goal, says GraniteShares’ Rhind. The two largest coal consumers, however —India and China — are investing even more in coal, expanding their power-plant network through the end of the next decade, he says.
Rhind expects global coal demand to remain high, but prices may “moderate” in 2023, especially if there’s a resolution to the Russia-Ukraine war. Supply will remain constrained, but ironically, higher coal prices will almost certainly contribute to increased demand for renewable energy “in order to find cheaper, more environmentally friendly, and independent sources of energy.”
Source: MarketWatch
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Friday, 05 January 24
BANGLADESH’S 2023 COAL-FIRED POWER OUTPUT TRIPLED, EASING SHORTAGES - REUTERS
Bangladesh nearly tripled its coal-fired power output in 2023, a Reuters analysis of government data showed, helping it tide over the worst power s ...
Tuesday, 02 January 24
COAL TRADE CONTINUES TO HEAD EAST - BALTIC EXCHANGE
The global coal trade, once concentrated in the Pacific and Atlantic basins, is undergoing a significant transformation, as highlighted in the Inte ...
Tuesday, 02 January 24
COAL CARGOES: AVOIDING EXPLOSION AND SELF-HEATING - GARD
KNOWLEDGE TO ELEVATE
Despite its contribution to greenhouse gas emissions, global coal consumption climbed to an all-time high in 2022 and is ...
Tuesday, 02 January 24
SINOPEC FORECASTS CHINA’S COAL CONSUMPTION TO PEAK AROUND 2025 - REUTERS
China Petrochemical Corp, or Sinopec, expects coal consumption to peak around 2025 at 4.37 billion metric tons, the state energy group said in an o ...
Thursday, 07 December 23
CHINA TO SET UP COAL PRODUCTION RESERVE TO STABILISE PRICES - REUTERS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
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- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
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