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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, 25 November 19
COAL SUPPLY BY CIL TO POWER SECTOR DROPS OVER 8 PC TO 253 MT IN APRIL-OCTOBER - PTI
Supply of coal by state-owned CIL to the power sector registered a decline of 8.5 per cent to 253 million tonnes in the April-October period of thi ...
Monday, 25 November 19
A 53,000DWT SHIP FIXED AT $9,500 DELIVERY SINGAPORE TRIP, VIA INDONESIA, REDELIVERY VIETNAM - BALTIC BRIEFING
Capesize
After a week of value being eroded on the Capesize market, Friday brought improved sentiment across most of the routes. The 5TC averag ...
Monday, 25 November 19
KOWEPO INVITED 6.79 MILLION TONS OF (SUB)BITUMINOUS STEAM COAL BIDS
COALspot.com: South Korea’s Korea Western Power Co., Ltd. (KOWEPO) has issued an international tender for 6,798,000 tons of coal for 5 years ...
Friday, 22 November 19
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Friday, 22 November 19
FORTY PERCENT OF ADARO'S COAL SALES VOLUME IN 9M19 GOES TO THE SOUTHEAST ASIA REGION
PT Adaro Energy Tbk released its consolidated financial statements yesterday, for the nine month period, ending September 30, 2019.
...
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- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- MS Steel International - UAE
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- Australian Coal Association
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- The University of Queensland
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
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