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Thursday, 07 August 14
SHORT-TERM COAL OUTLOOK IMPROVES - SAM QUEST
 With demand for and supply of coal to grow in the near future, prices are expected to rebound in the short term; the long-term prospects, however, are bleak
Coal, besides being a cheap source of electricity generation, also serves as a major raw material for various industries, including steel and cement production.
In the US, coal accounts for nearly 40% of total energy needs (based on 2014 year-to-date statistics). As emission standards in the US become more stringent, natural gas and other renewable resources are increasingly replacing coal as an energy alternative. Despite this, coal remains a major source of power generation because it is cheaper than other resources.
Outlook for 2014
The US Energy Information Administration (EIA) expects the country’s coal production to increase 2.7% to 1,011 million short tons (MMst) in 2014, driven largely by higher consumption.
Coal production fell by more than 7% in 2012, compared to 2011, as a result of increased competition from natural gas for power generation. Natural gas prices fell 31% in 2012 to $2.77 per MMBtu from $4.02 per MMBtu in 2011.
Demand for coal is expected to grow 2.8% this year to 951 MMst because of rising demand for electricity and higher natural gas prices. Beginning second-half of 2013, natural gas prices started rising as demand outpaced supply, reaching $5.08 per MMBtu in May 2014.
In 2015, however, the demand for coal is likely to decline 2.8% as Mercury and Air Toxic Standards go into action, leading to retirement of coal power plants. Natural gas prices are expected to fall again next year because of a 1.1% decline in natural gas consumption during the current year, further reducing the demand for coal.
Coal production will continue to see a slight improvement until 2030 as the existing plants reach their maximum utilization rates, after which no new capacity will be added. All in all, the production is expected to rise 0.3% per year from 2013 through 2040, from 20.8 to 22.6 quadrillion Btu.
Coal Prices
Coal prices have followed a declining trend in the past two years in the face of growing supply from major producers looking to cut costs, and shrinking consumer demand because of a slowing Chinese economy. China consumes 60% of the world’s coal and iron ore.
Annual average prices of thermal coal fell from $2.39 per MMBtu in 2011, to $2.35 per MMBtu. Analysts expect global thermal coal prices to stay at low levels until 2016. The EIA, however, expects average delivered coal prices to increase to $2.39 per MMBtu in 2014 and $2.41 per MMBtu in 2015.
Impact on related industries
In the wake of falling coal prices, mining companies have cut capital expenditures to remain profitable.
The decline in prices has also affected mining equipment companies. Caterpillar Inc. (CAT), the largest manufacturer of mining equipment, has a bleak outlook for the current year as sales of mining equipment drop. Its second quarter revenues for mining division fell 29% year-over-year (YoY).
Railroad companies, however, saw coal shipments rise for the second quarter as a result of increased demand for utility coal from stockpile replenishment. This was in response to a severe winter and higher natural gas prices, which offset lower export volume. Both Norfolk Southern Corp. (NSC) and CSX Corporation (CSX) saw coal revenue improvement of 7% and 6.5%, respectively.
Despite a favorable outlook for short-term coal prices, the long-term outlook for coal demand and prices remains bleak.
By: Sam Quest
This article was originally published in Bidness etc
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Wednesday, 03 September 14
KOREA MIDLAND POWER CO. LTD INVITES BIDS FOR 1 MMT OF BITUMINOUS & SUB-BITUMINOUS COAL FOR BORYEONG POWER PLANT
COALspot.com: KOMIPO again in the market for 1 million tons of 5700 NAR and 4600 NAR coal for Jan – March 2015. South Korean state-owned util ...
Wednesday, 03 September 14
CFR S.CHINA COAL SWAP FOR JAN 2015 DELIVERY CLOSED AT $ 68.30 PMT; DOWN 2.43% W-O-W
COALspot.com: API 8 CFR South China Coal swap for delivery in October 2014 decreased US$ 0.95 (-1.39%) day on day and US$ 1.40 (-2.03%) week on wee ...
Tuesday, 02 September 14
BERAU COAL HAS AWARDED A CONTRACT EXTENSION TO BUMA FOR 647 MLN BCM OVERBURDEN REMOVAL
COALspot.com: PT Delta Dunia Makmur Tbk (“DOID”) has announced that its primary operating subsidiary, PT Bukit Makmur Mandiri Utama (&l ...
Monday, 01 September 14
GLOBALCOAL WELCOMES TWO NEW MARKET MEMBERS
COALspot.com: globalCOAL® announced today that two Market Members have joined its trading community. Both new Market Members are from the India ...
Sunday, 31 August 14
COAL FREIGHT RATES INTO INDIA FROM INDONESIA FIRM
COALspot.com: The freight market continued to firm this week. BDI up 5.42 percent week ended 29 August and closed at 1147 points while the Ca ...
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- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- The Treasury - Australian Government
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Videocon Industries ltd - India
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- The University of Queensland
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
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