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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, 03 December 15
PANAMAX BUSINESS REMAINED UNDER PRESSURE LAST WEEK
COALspot.com: Following the new record lows the Dry Bulk market witnessed the week prior, the BDI took a much needed breath during the past days.
...
Wednesday, 02 December 15
Q3' 16 FOB RICHARDS BAY COAL SWAP SLIGHTLY UP FOR THE THIRD STRAIGHT WEEK
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q1’ 2016 up month over month and fell week over week.
The Q1’ 2016 &nbs ...
Wednesday, 02 December 15
MARKET INSIGHT - VASSILIS LOGOTHETIS
Boom and bust cycles in commodity prices are not something rare, yet they have important implications both for the world economy in general and for ...
Tuesday, 01 December 15
FOB NEWCASTLE COAL SWAP UP THIS PAST WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery slid $3.75 per ton (9.26%) month over month to US$ 36.75 per ton. The swap ...
Tuesday, 01 December 15
TANKERS VERSUS BULKERS - JUST PLAYING CATCH UP? - CLARKSONS
It’s now more than a year since the tanker market took off. In mid-2014 tanker earnings picked up and since then have been in the $30-$40,000 ...
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- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- The University of Queensland
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
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- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- Economic Council, Georgia
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
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