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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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Tuesday, 05 October 21
CAPESIZE MARKET WAS IN A STEEP CLIMB FOR MOST OF THIS WEEK - BALTIC EXCHANGE
Capesize
The Capesize market was in a steep climb for most of this week as it reached a pinnacle of $74,786 Wednesday before stalling, regather ...
Wednesday, 29 September 21
THE WRITING IS ON THE WALL: AUSTRALIA’S COAL ERA IS OVER - YAHOO!FINANCE
As the fringe of Australian politics strives to pump up the coal industry, facts show that coal production has started its long run decline.
&n ...
Wednesday, 29 September 21
SURGING COAL PRICES SPLIT ASIAN BUYERS INTO RICH AND POOR - REUTERS
As seaborne coal in Asia trades at, or near, record highs, there are early signs of demand destruction, especially among price-sensitive buyers suc ...
Wednesday, 29 September 21
MARKET INSIGHT - INTERMODAL
Tanker Asset values have surprised to the upside, despite the downward pressure on the freight market. Tanker rates have been hovering close to the ...
Tuesday, 28 September 21
THE MAIDEN EDITION OF DIVE TECHNOLOGY SUMMIT 2021 CONCLUDES SUCCESSFULLY
Press Release: DIVE TECHNOLOGY SUMMIT 2021, a one-day conference on the recent technological advancements in the Industrial Diving industry conclud ...
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- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- VISA Power Limited - India
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Planning Commission, India
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- The University of Queensland
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- Trasteel International SA, Italy
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