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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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Thursday, 10 December 15
FOB RICHARDS BAY COAL Q3' 16 DELIVERY SWAP WAS CLOSED 7.27% PER TON LOWER COMPARED TO AVERAGE Q1' 16 DELIVERY PRICE
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q1’ 2016 decline month over month and week over week.
The Q1’ 2016 &nbs ...
Wednesday, 09 December 15
U.S. COAL EXPORTS DECLINE IN 2015 DUE TO SLOWER GROWTH IN WORLD COAL DEMAND AND LOWER INTERNATIONAL COAL PRICES - EIA
COALspot.com: The slower growth in world coal demand and lower international coal prices have contributed to a decline in U.S. coal exports in 2015 ...
Wednesday, 09 December 15
DRY BULK EXPERIENCES THE PERFECT STORM - PANOS TSILINGIRIS
Dry bulk experiences the perfect storm as the slowing of demand predominantly because of China sat atop the exaggerated oversupply. The BDI broke t ...
Tuesday, 08 December 15
OPEC'S DECISION BODES WELL FOR THE TANKER MARKET: STRONG MIDDLE EAST CRUDE EXPORTS WILL CONTINUE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
OPEC’s latest decision to keep up oil production is seen by shipbrokers as a further boost for the tanker market. At the end of last year OPE ...
Tuesday, 08 December 15
Q1' 16 API 5 FOB NEWCASTLE COAL SWAP CLOSED AT $ 36.73 A TON; 1.73% HIGHER COMPARED TO Q3' 16 PRICE
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery slid $1.47 per ton (3.85%) month over month to US$ 36.73 per ton. The swap ...
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- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
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- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
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- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
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- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
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- Petron Corporation, Philippines
- Medco Energi Mining Internasional
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
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- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
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- The State Trading Corporation of India Ltd
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- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
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- Indonesian Coal Mining Association
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- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
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- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
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- Karbindo Abesyapradhi - Indoneisa
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- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
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- International Coal Ventures Pvt Ltd - India
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- Altura Mining Limited, Indonesia
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- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
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- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
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- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
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- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
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- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
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- Economic Council, Georgia
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- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
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- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
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- Videocon Industries ltd - India
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- The Treasury - Australian Government
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- Wilmar Investment Holdings
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- Australian Coal Association
- Planning Commission, India
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- MS Steel International - UAE
- Energy Link Ltd, New Zealand
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