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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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Wednesday, 17 August 22
PAXOCEAN, HONG LAM MARINE AND BUREAU VERITAS SIGN MOU TO DEVELOP AMMONIA BUNKER VESSEL DESIGN - BUREAU VERITAS
PaxOcean Engineering Pte. Ltd. has signed a Memorandum of Understanding (MOU) with Singapore-based bunker vessel operator Hong Lam Marine and class ...
Wednesday, 17 August 22
GOODFUELSS ASIA-PACIFIC BRANCH KICKSTARTS SUSTAINABLE BIOFUEL DELIVERIES WITH NYK AS FIRST CLIENT - GOOD FUELS
GoodFuels, the leading biofuels pioneer for the global transport industry, has today announced that it has successfully supplied sustainable marine ...
Tuesday, 16 August 22
EU BAN ON RUSSIAN COAL IMPORTS COMES INTO FORCE - DEUTSCHE WELLE
The European Union banned Russian coal imports in response to the invasion of Ukraine as part of sanctions in April. Since then, it’s been sc ...
Thursday, 11 August 22
MARKET INSIGHT - INTERMODAL
On July 22nd, Ukraine signed a deal with Russia to release 22mn tons of grain from Ukraine’s 3 major ports (Yuzhny, Chornomorsk, Odesa). Such ...
Wednesday, 10 August 22
THE FUTURE OF COAL: EIGHT KEY THEMES FROM THE GLOBAL COAL FORUM - WOOD MACKENZIE
Coal investors face a multi-layered and unavoidable challenge: markets distorted by war, trade constraints and the existential threat of the energy ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- Australian Coal Association
- The University of Queensland
- Minerals Council of Australia
- London Commodity Brokers - England
- The Treasury - Australian Government
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
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