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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, 01 December 23
COAL MINERS GROUP EXPECTS INDONESIA’S 2023 COAL OUTPUT TO SURPASS TARGET - REUTERS
The Indonesian Coal Mining Association (ICMA) expects the country’s 2023 coal output to surpass the official target of 695 million metric ton ...
Friday, 24 November 23
COAL IMPORTS TO INDIA IN OCTOBER 2023 REACHED HIGHEST LEVELS IN NEARLY A YEAR AND A HALF - VESSELSVALUE, VESON NAUTICAL
In October, coal imports to India reached 13.8 mt in October 2023, according to Oceanbolt, a Veson Nautical solution, the highest level since May 2 ...
Friday, 24 November 23
COAL SHIPMENTS TO ADVANCED ECONOMIES DOWN 17% SO FAR IN 2023 - BIMCO
In the first ten months of 2023, coal shipments to advanced economies fell by 17% y/y, as demand for electricity declined and the share of electric ...
Friday, 24 November 23
INTELLIGENT COAL MINES CONTRIBUTE TO IMPROVING SAFETY STANDARDS - CHINA DAILY
Mechanization, automation and intelligent upgrades have contributed to improved safety in coal mines, though the level of development of intelligen ...
Friday, 24 November 23
WHY AUSTRALIA'S COAL MINES ARE GETTING BIGGER - IEEFA
Australia’s largest coal mines are getting larger. Mines in New South Wales (NSW) are ramping up production following the state’s recov ...
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- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Xindia Steels Limited - India
- PTC India Limited - India
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- White Energy Company Limited
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
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