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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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Monday, 31 October 22
CHINA COAL OUTPUT UP 12.3 PCT IN SEPTEMBER - XINHUA
China’s raw coal output posted stable expansion in September, official data showed.
The country produced 390 million tonnes of ...
Wednesday, 26 October 22
BIMCO PUBLISHES UPDATED GENCON CONTRACT
BIMCO has published a revised and updated version GENCON 2022 – one of its flagship contracts within its portfolio of standard contracts for ...
Monday, 24 October 22
KOSPO TO INVITE 400,000 MT OF COAL FOR 3 YEARS
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an international tender for 400,000 MT of 3,800 - 4,400kcal/kg NCV and Sulfur Max 0 ...
Wednesday, 19 October 22
ASIA COULD BE A BRIGHT SPOT AMID GLOBAL DOWNTURN NEXT YEAR, ECONOMISTS SAY - CNBC
Asia — especially Southeast Asia — remains a bright spot, even as the global economy looks set to head into recession next year, econom ...
Wednesday, 19 October 22
WHAT WILL THE GAS MARKET LOOK LIKE IN A NET ZERO WORLD? - WOOD MACKENZIE
The global gas and LNG market faces a number of ‘great unknowns’. With the market in turmoil uncertainty abounds – from the scale ...
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- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
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