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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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- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
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