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Friday, 10 November 23
COAL USE AT U.S. POWER PLANTS CONTINUES DOWNWARD SPIRAL; FULL IMPACT ON MINES TO BE FELT IN 2024 - IEEFA
 This year, the use of coal by the U.S.’s power producers has been so anemic that the fuel has not achieved a 20% market share in any month so far, and the current outlook predicts low levels for the rest of the year. To put that into perspective, coal’s power market share had never been less than 20% in any month before 2020, according to the U.S. Energy Information Administration (EIA).
In July 2023, for example, coal hit its high point for the year so far, providing 19.1% of the country’s power; in August its market share was 19.0%. That performance stands in stark contrast to 2021, when coal’s market share in both July and August was more than 25%—roughly 6 percentage points higher. The low point this spring occurred in April and May, between the winter heating and summer cooling seasons, when coal’s market share slumped to just 13.8%—the first time it has ever fallen below 15%.
Despite hotter summer temperatures and increased power demand to run air conditioning in some parts of the country this summer, the use of coal has fallen. This is a result of lower prices for gas—coal’s primary fossil-fuel competitor—and a surge in utility-scale solar generation, which was up 20% in July from July 2022, and up 23% in August from a year ago.
The EIA’s current outlook suggests even more deterioration for coal power in the coming months. The energy agency not only sees coal’s November market share returning to the record-low market share in the spring, but also dropping even more in 2024, to as low as 10 to 13% in both the spring and fall.
The decision by plant owners to scale back their use of coal can be seen in at least two measures. First, power generation at coal plants has fallen every single month in 2023 compared to the same months in 2022, both at those owned by utilities and those owned by independent power producers (IPPs)—and by a lot. Through August, utility coal generation has dropped an average of 19.7%. At IPP coal plants, which are more sensitive to competitive pressures, generation has fallen even more—declining an average of 29.7%, a sign that the economics of selling coal-fired power have deteriorated significantly this year.
At the same time, coal stockpiles have surged, to almost 130 million tons in June, and remain high. That’s enough to run coal plants for 113 days, or almost four months, based on the average amount of coal used over the previous year. This measure, called “days of burn,” is more useful than simply looking at the size of the coal piles, since there are fewer coal plants than in the past, and the ones that are still operating are running less. In fact, the amount of coal used each day in the U.S. has fallen from about 2.8 million tons a day in 2008 to roughly 1.1 million tons a day this year—a 62% drop.
It can take a long time to bring such large stockpiles down to levels power producers are more comfortable with—historically around 50 to 60 days’ supply. It took 16 months to lower stockpiles from the May 2020 peak of 120 days of burn, and it took 34 months—almost three years— to lower stockpiles after a May 2016 peak of 105 days of burn. The speed of the drawdown will also be influenced by other factors like warm winter weather, the health of the U.S. economy, and gas prices.
To cut stockpiles, coal-plant owners are likely to turn to a straightforward solution: Buy less coal.
That, of course, would directly affect coal mining in the U.S., and the EIA is already warning that a significant production downturn is coming for the remainder of 2023 and throughout 2024. Overall, coal output could fall to 466 million tons in 2024, a 25 percent decline of 115 million tons from 2023 levels, the EIA says. If that figure holds, it would be the smallest annual U.S. coal production since 1962—but most of the years between 1936 and 1957 also had higher output.
Western producers, which include the nation’s largest mines in the Powder River Basin, could be hardest hit. The EIA is anticipating output in the region to slump 30% next year, or 73 million tons, to just 246 million tons. That would be the region’s lowest production in at least 40 years. Appalachian production doesn’t fare much better. There, the EIA expects production to fall almost 22%, or 29 million tons, to just 132 million tons. For comparison, when coal output in Appalachia peaked in 1990, almost four times as much of the fuel was mined.
After a sharp drop in coal demand in 2020 due to the pandemic, output from U.S. coal producers moderately rebounded and stabilized in 2021. Then, in 2022, coal prices soared after the Russian invasion of Ukraine, which broadly improved the financial health of U.S. coal companies—but provided only a modest improvement in the volume of coal produced, which declined again this year.
That temporary reprieve has ended. Coal companies are now staring at a substantial new downturn driven by an accelerating decline in domestic demand.
Source: IEEFA
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Wednesday, 12 June 24
CHINA ACCOUNTS FOR 16.3% OF AUSTRALIA'S COAL EXPORTS, FOLLOWED BY INDIA 14.4% - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels says Banchero Costa in its latest report.
...
Wednesday, 12 June 24
LNG NEWBUILDING VALUES AT RECORD HIGH: 78 NEWBUILD ORDERS PLACED IN 2024, DOUBLING 2023 - VESON NAUTICAL
The number of LNG newbuilding orders have more than doubled from the same period last year where 34 orders were placed, compared to 78 in the first ...
Monday, 10 June 24
CHINA'S MAY COAL IMPORTS RISE 11% ON LOWER DOMESTIC OUTPUT - REUTERS
China’s imports of coal rose 11% in May from a year earlier, customs data and Reuters records showed on Friday, as lower domestic output this ...
Tuesday, 04 June 24
HOW DO WESTERN SANCTIONS ON RUSSIA IMPACT THE GLOBAL METALS, MINING AND COAL MARKETS - WOOD MACKENZIE
The geopolitical landscape for Russia, as a major supplier of various commodities, has undergone a dramatic transformation since the invasion of Uk ...
Friday, 22 March 24
CASE STUDY: DANGERS OF COAL CARGO - SKULD
Recently, a bulk cargo vessel carrying coal from South Africa to Singapore suffered a fatal accident, resulting in the deaths of three crew members ...
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Showing 21 to 25 news of total 6871 |
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- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Economic Council, Georgia
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
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