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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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Thursday, 12 December 19
KOWEPO INVITING BIDS FOR 2.28 MILLION TONS OF MIN.4,400 NCV COAL
COALspot.com: South Korea’s Korea Western Power Co., Ltd. (KOWEPO) has issued an international tender for total 2,280,000 tons of (Sub) Bitum ...
Wednesday, 11 December 19
PANAMAX: THE MARKET REMAINED FIRM IN THE PACIFIC, WITH INCREASED ACTIVITY NOTED IN KEY AREAS, SUCH AS INDONESIA - ALLIED
Capesize – Positive momentum was resumed this past week, with earnings mak-ing some gains once again. This rising pattern was reflected in th ...
Tuesday, 10 December 19
PREPARATIONS INTENSIFY AS IMO 2020 GLOBAL SULPHUR CAP LOOMS - STANDARD CLUB
With less than a month to go for the impending IMO 2020 global sulphur cap, the club has started witnessing dispute cases relating to the measureme ...
Monday, 09 December 19
KOREA SOUTHERN POWER CO LTD IS INVITING OFFERS FOR MIN 3700 NCV COAL
COALspot.com: South Korea’s Korea East-West Power Co. Ltd has issued an international tender for 160,000 Tons steam coal.
Acco ...
Saturday, 07 December 19
CHINA'S BENCHMARK POWER COAL PRICE DROPS SLIGHTLY - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
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- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Marubeni Corporation - India
- White Energy Company Limited
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
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