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Wednesday, 13 January 16
U.S. COAL PRODUCTION DECLINED BY 109 MMST IN 2015; COAL EXPORTS DECREASED 21% Y-O-Y
.jpg) COALspot.com: U.S. coal production declined by 109 million short tons (MMst) (11%) in 2015, the largest decline ever recorded, says EIA.
The 2015 drop in production occurred in all coal-producing regions, with the largest percentage decrease occurring in the Appalachian region (15%). Production in the Interior region, which includes the Illinois Basin, declined by 11% in 2015, which was the first decline in that region since 2009. Western region production declined by 9%, with production below 500 MMst for the first time since 1998, EIA says in its latest short-term energy outlook.
According to EIA’s short-term energy outlook, U.S. coal production continues to decline over the next two years. Production is projected to fall by 38 MMst (4%) in 2016 and by an additional 9 MMst (1%) in 2017.
However, Interior region production, which accounted for only 13% of coal production 10 years ago (2006), is projected to account for 20% of production in 2016 and 2017. This increase in share reflects the region's growing competitive advantages compared to the other coal-producing regions. These factors include the higher heat content of the coal, closer proximity to major markets than coal produced in the Western region, and lower mining costs than Appalachian-produced coal. Appalachian production, which accounted for 34% of production 10 years ago, is projected to decline to 24% in 2016 and 2017. The Western region's share, which was 53% 10 years ago, increases to 56% in 2016 and 2017.
US’s Electric power sector coal stockpiles were 176 MMst in October, an 8% increase from September, which is similar to the typical seasonal pattern. October coal inventories averaged 155 MMst during the previous 10 years (2005-14). Coal stockpiles are still relatively high because of the loss in market share to natural gas for power generation.
Coal Consumption
EIA estimates that, the coal consumption in U.S. decreased by 11% in 2015, mainly as a result of an 11% drop in electric power sector consumption. Lower natural gas prices are the primary driver of the decrease in coal consumption. Low natural gas prices make it more economical to increase generation at natural gas-fired units and to decrease generation at coal-fired units. Retirements of coal-fired power plants, stemming from both increased competition with natural gas generation and the implementation of the Mercury and Air Toxics Standards (MATS), also reduce coal-fired generation capacity, but the full effect will not be evident until 2016.
Higher forecast natural gas prices in 2016 and 2017 are expected to contribute to higher utilization rates among the remaining coal-fired power plants. This higher utilization rate somewhat mitigates the effect of lower consumption from coal-plant retirements. Coal consumption in the electric power sector is forecast to remain relatively unchanged in 2016. In 2017, increases in nuclear (1%), hydropower (8%), and other renewable-based (12%) electricity generation are forecast to contribute to a 1% decline in electric power sector coal consumption.
Coal Trade
Slower growth in world coal demand and lower international coal prices have contributed to a decline in U.S. coal exports. Lower mining costs, cheaper transportation costs, and favorable exchange rates will continue to provide an advantage to mines in other major coal-exporting countries compared with U.S. producers over the next few years.
EIA estimates, the U.S. coal exports have decreased 20 MMst (21%) from 2014 levels to 77 MMst in 2015. The current global coal market trends are expected to continue, and coal exports are forecast to decline by an additional 9 MMst (12%) in 2016 and by 2 MMst (4%) in 2017.
While, the U.S. coal imports, which were 11 MMst in 2014, remained at that level in 2015. Coal imports, primarily from Latin America, are forecast to maintain their market share with power generators along the Atlantic and Gulf coasts, as imported coal's delivered price in those markets remains competitive with prices for domestically produced coal. Imports are projected to average just under 11 MMst in 2016 and 2017.
Coal Prices
The annual average price of coal to the electric power sector averaged $2.36/MMBtu in 2014. EIA estimates the delivered coal price averaged $2.23/MMBtu in 2015.
Forecast prices are $2.19/MMBtu in 2016 and $2.20/MMBtu in 2017.
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Tuesday, 26 January 16
Q3'16 CFR SOUTH CHINA COAL SWAP DROPPED BELOW $41 A TON
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery rose US$ 0.82 (1.94%) per ton month over month.
A commodity swap is ...
Tuesday, 26 January 16
OUTLOOK FOR GLOBAL OIL MARKETS - OPEC SECRETARY GENERAL
Opening address by HE Abdalla S. El-Badri, OPEC Secretary General, at the Chatham House Conference: Middle East and North Africa Energy 2016, Theme ...
Monday, 25 January 16
5700 GAR COAL INDEX CLOSED $ 50.08 PER TON, $0.20 LOWER FROM LAST WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline 1.35 percent week over week to averaging $39.39 per ton on this past Friday, ...
Monday, 25 January 16
SHOULD A DEFAULTING PARTY BE ENTITLED TO AN INNOCENT PARTY'S SAVING, FOLLOWING THEIR BREACH OF CONTRACT? - THE NEW FLAMENCO REVISITED
KNOWLEDGE TO ELEVATE
This case was addressed by the club in our of January 2015, when the High Court decision became available. The background ...
Monday, 25 January 16
DRY BULK SHIPPING: A MISERABLE START TO A NEW YEAR, WHERE THE MARKET STRUGGLES TO GROW AT ALL - BIMCO
The global production of steel dropped in 2015 compared to 2014, to a larger extent outside China, as China exported its surplus of steel to destin ...
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- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Planning Commission, India
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
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