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Friday, 14 February 20
IS THE US COAL INDUSTRY COMPLETELY BURNED OUT? -FORBES
 This is the fourth of a multi-part series on the state of the main sources of energy in the US and how they compare globally. The series will cover solar, wind, oil & gas, coal, nuclear, and geothermal (so far) and will answer the same four questions for each.
1. How big is the US coal industry, and what is its growth trajectory?
US coal employment peaked in the 1920s and the whole sector (mining, transport, and power plants) currently supports about 174,000 jobs. In 2018, US mines produced about 756 million short tons of coal, the majority of which (544 million short tons) was burned in coal-fired power plants to generate 966 billion kWh of electricity, about 24% of all electricity generated in the US.
However, coal has largely fallen out of favor for electricity production as price declines in natural gas and, to a lesser extent, renewables have made it harder for coal plants to make money in electricity markets. The average US coal plant is now over 40 years old, and there is not a single commercial coal plant under construction in the country. Some scenarios have coal generation remaining flat for the next couple of decades, but most market fundamentals and societal goals indicate further declines.
In the past decade, over 500 coal-fired power units have been retired, or announced their retirement. Further, it is estimated that over 85% of existing coal plants will be uneconomic compared to local renewables by 2025. These dire conditions have many states with regulated electricity markets scrambling to either financially support uneconomic coal plants or provide securitization strategies to allow them to retire early while still making good on their debts. As demand for coal has declined, almost a dozen coal mining companies have filed for bankruptcy in the past 5 years.
On the other hand, US coal exports have been trending upwards as the world economy continues its decade long recovery and demand for energy and goods continues to increase.
Over half of US coal exports are for making steel (metallurgical/coking coal) and the rest for electricity (steam/thermal coal). Major destinations for US coal exports are India (15%), The Netherlands (11%), and Japan (9%), among others. Some countries, largely led by China, are continuing to build coal plants, which could increase demand for US coal exports. Although, some western states have sought to block coal export terminals, forcing some US exports to depart through Canada.
2. Which US states lead in coal?
While Appalachia is home to the vast majority of individual coal mines, the relatively few number of mines in the western Powder River Basin (PRB) produce many more tons of coal annually. Of the 43% of US coal that comes from the PRB, 93% of that (40% of US total) comes from the state of Wyoming. West Virginia produced the second highest amount of US coal, almost 13% of total US production.
Although Texas only produces the poorest quality coal, lignite, it nonetheless consumes more coal than any other state, almost by a factor of two, even though its usage is down almost 20% (2018 vs. 2017). North Dakota consumes the most amount of coal for uses other than power generation.
3. What are the biggest challenges faced by the coal sector today?
By far the biggest realized challenge facing the US coal sector is economic pressure from low cost natural gas, and to a lessor, though growing, extent, renewables. The hydraulic fracturing boom has vastly increased the supply of natural gas, making it stubbornly cheap and the new firm fuel of choice in power generation. A recent study found that low cost natural gas prices was responsible for 85-90% of wholesale electricity price declines in some markets.
Also, the US is generally not building big power plants (of any type) anymore. Coal (and current generation nuclear) plants are generally built as large units to produce cheaper electricity. However, other technologies, such as gas and renewables, can be built in smaller sizes, for cheaper, and thus incur less capital risk, making them easier to finance. The US Department of Energy has made a push for small modular coal plants, but there doesn’t appear to be much traction as of yet.
The biggest existential threat faced by the US coal sector is by far climate change. Of the major fuels used to generate electricity in the US, coal produces the most carbon emissions. But technical and political times are changing. About 45% (and growing) of all electricity (by at least 2050) in the US has been pledged to be carbon-free and one of the easiest ways to start to make good on such promises is to shutter coal plants.
Coal’s future (at least for power production) appears to be burning out. Other technologies, such as gas and renewables, are beating coal on price, flexibility, and finance-ability. Absent significant improvements in carbon capture and sequestration technology, most developed markets, but not all, are likely to continue shuttering their coal fleets over the next couple of decades. However, the world is going to continue to need steel in the short and long-term, and while electric arc furnace metals recycling and new smelting technologies might help reduce the need for metallurgical coal and its associated emissions, the vast majority of steel is still currently made using coal.
Source: Forbes
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Monday, 03 February 20
KOWEPO INVITING BIDS FOR 2.46 MILLION TONS OF MIN.5700 AND MIN.5600 NCV COAL
COALspot.com: South Korea’s Korea Western Power Co., Ltd. (KOWEPO) has issued an international tender for total 2,460,000 tons of (Sub) Bitum ...
Sunday, 02 February 20
NOVEL CORONAVIRUS OUTBREAK IN CHINA - STANDARD CLUB
Members will be aware of the recent novel coronavirus outbreak in China, which has now been declared a global emergency by the World Health Organis ...
Sunday, 02 February 20
SUPRAMAX: A 52,000DWT SHIP WAS FIXED BASIS DELIVERY SOUTH KALIMANTAN TRIP TO INDIA, AT $6,000 - BALTIC BRIEFING
Capesize
The week proved conspicuous for all the wrong reasons. This was the week when the Baltic Capesize Index (BCI) turned negative, closing ...
Saturday, 01 February 20
50 MILLION PEOPLE QUARANTINED IN CHINA TO CONTAIN SPREAD OF CORONAVIRUS - HOW DOES IT AFFECT SHIPPING? - BIMCO
The outbreak of the novel coronavirus, declared a global health emergency by the WHO, has caused massive uncertainty across the global markets with ...
Saturday, 01 February 20
THERMAL COAL MARKETS: 5 TRENDS TO WATCH OUT FOR IN 2020 - MINING REVIEW
The seaborne thermal coal market entered the year challenged by low priced LNG in the Atlantic and rapidly increasing supply in the Pacific.
&n ...
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- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Planning Commission, India
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- The University of Queensland
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
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