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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 $2.41 per MMBtu in 2015.
Impact on related industries
In the wake of falling coal prices, mining companies have cut capital expenditures to remain profitable.
The decline in prices has also affected mining equipment companies. Caterpillar Inc. (CAT), the largest manufacturer of mining equipment, has a bleak outlook for the current year as sales of mining equipment drop. Its second quarter revenues for mining division fell 29% year-over-year (YoY).
Railroad companies, however, saw coal shipments rise for the second quarter as a result of increased demand for utility coal from stockpile replenishment. This was in response to a severe winter and higher natural gas prices, which offset lower export volume. Both Norfolk Southern Corp. (NSC) and CSX Corporation (CSX) saw coal revenue improvement of 7% and 6.5%, respectively.
Despite a favorable outlook for short-term coal prices, the long-term outlook for coal demand and prices remains bleak.
By: Sam Quest
This article was originally published in Bidness etc
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Friday, 04 July 14
PARAM MITRA COAL RESOURCES SECURES US$ 7.5M INVESTMENT FROM TEMBUSU PARTNERS
Param Mitra Coal Resources Pte Ltd (“PMCR”), which owns two operating coal mines in Indonesia, has secured from Singapore private equit ...
Thursday, 03 July 14
BUMI TRANSFERS 19% OF KPC STAKE VALUED AT US$ 950 MILLION TO CIC
COALspot.com: PT. Bumi Resources announces that 19% of its holdings in Kaltim Prima Coal (KPC), valued at US$ 950 million, has been transferred to ...
Thursday, 03 July 14
PANAMAX : IN THE ATLANTIC, OWNERS ARE WILLING TO FIX AT ABOUT $2.5K PER DAY - FEARNEYS
Handy
In its latest weekly report, shipbroker Fearneys noted that, this week seems to have been more of a wait and see game between owners and ch ...
Wednesday, 02 July 14
NEWMONT FILES FOR INTERNATIONAL ARBITRATION ON ORE EXPORT BAN - THE JAKARTA POST
PT Newmont Nusa Tenggara (NNT), a subsidiary of United States-based Newmont Corporation, has filed for international arbitration against the govern ...
Wednesday, 02 July 14
THE PANAMAX MARKET CONTINUED TO BLEED FOR ANOTHER WEEK - INTERMODAL
COALspot.com: The Dry Bulk market succumbed to mounting pressure this past week, while the Capesize market proved unable to “save the day&rdq ...
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- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
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