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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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Thursday, 03 November 22
HANDYSIZE VALUES MOVING UP IN OCTOBER, WHILE LNG VALUES SKYROCKET - VESSELSVALUE
Handysize values have increased this month across most ages, following a period of decline. Values for generic 10 year old Handysizes have moved up ...
Thursday, 03 November 22
EUROPEAN GAS SUPPLY SURPLUS, NOVEMBER HBA DOWN TO US$ 308.2 PER TON - ESDM
European gas supply conditions have a major influence in determining fluctuations in the Reference Coal Price (HBA). The November 2022 HBA recorded ...
Wednesday, 02 November 22
MARKET INSIGHT - INTERMODAL
Only five weeks before western sanctions’ full effect, uncertainty over energy has markets and governments on the edge. What was initially th ...
Tuesday, 01 November 22
CHINA COAL TRADE DISRUPTED BY COVID OUTBREAKS AS WINTER LOOMS - REUTERS
China’s strict COVID-19 policy is constraining coal supplies and pushing up prices, industry officials and traders say, just weeks before the ...
Monday, 31 October 22
U.S. COAL-FIRED GENERATION DECLINING AFTER BRIEF RISE LAST YEAR - EIA
We expect 6% less U.S. coal-fired generation in 2022 than in 2021, according to our latest Short-Term Energy Outlook (STEO). Although coal-fired ge ...
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- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
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