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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, 20 October 21
MARKET INSIGHT - INTERMODAL
IMO 2020, Ballast Water Treatment regulations, Green Recycling, GHG emissions, EEXI, CII, ETS, Fit for 55, Carbon price/levy, the Poseidon Principl ...
Tuesday, 19 October 21
SPONGE IRON SECTOR MIGHT REPORT NEGATIVE GROWTH DUE TO COAL CRISIS: SIMA - PTI
The domestic sponge iron industry might report a negative growth in the ongoing December quarter “if the shortage of coal is allowed to conti ...
Tuesday, 19 October 21
COAL INDIA, THE FALL GUY FOR POWER CRISIS - INDIA EXPRESS
The post-Covid economic recovery has led to a major increase in the demand for power, both in India and globally. In India, coal-based power plants ...
Saturday, 16 October 21
SOLAR INSTALLATION SURGE PUTS INDIA ON TRACK TO CAP COAL-FIRED POWER AS EARLY AS 2024 - IEEFA
Recent increase in solar power installations could push coal to peak sooner than expected
If India keeps installing solar capacity a ...
Saturday, 16 October 21
DESPITE HIGHER COAL PRICES, U.S. COAL RECOVERY LOOKS WEAK BY MOST MEASURES - IEEFA
U.S. coal sector is locked into a long-term sectoral decline
Coal prices have surged to the highest level in years in the U.S., and have soare ...
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- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- The University of Queensland
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
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