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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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Sunday, 03 August 14
LACK OF COAL SHIPMENTS FROM FAR EAST/SE ASIA, THE PRESSURE ON CHARTER RATES CONTINUED THIS WEEK
COALspot.com: This week, the freight rates were almost flat as charter rates were also almost steady from last week.
The BDI was up by 2.59 pc ...
Friday, 01 August 14
UNCERTAINTY IN ASIAN COAL MARKETS WHERE INDEX-LINKED PRICING DOMINATES - SGX
COALspot.com: In the past 3 years, seaborne thermal coal markets have been in a state of constant oversupply.
Reuters expects this oversupply ...
Friday, 01 August 14
U.S PRODUCED 19.4 MMST OF COAL IN A WEEK, SAYS EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 19.40 million short tons (mmst) of coal in ...
Thursday, 31 July 14
CAPESIZE: CARGO VOLUMES, COAL IN PARTICULAR, PRESENTLY NOT SUFFICIENT TO EMPLOY A GROWING FLEET - FERNLEYS
Handy
Both the Atlantic and Pacific has improved in the supramax segment over the last week, said Fernleys in Its latest weekly report . There we ...
Thursday, 31 July 14
RIO TINTO SELLS MOZAMBIQUE COAL ASSETS FOR US$ 50 MILLION TO INDIA'S ICVL
COALspot.com: Rio Tinto has agreed to sell its Mozambique coal assets for just US$ 50 million to International coal ventures Private limited of Ind ...
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- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Economic Council, Georgia
- PTC India Limited - India
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Australian Coal Association
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Minerals Council of Australia
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
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