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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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- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- White Energy Company Limited
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- The University of Queensland
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- VISA Power Limited - India
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
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