COALspot.com keeps you connected across the coal world
  • JANAURY 2021 INDONESIAN COAL PRICE REFERENCE FOR EXPORTS FIXED AT US$ 75.84 A TON

Submit Your Articles
We welcome article submissions from experts in the areas of coal, mining, shipping, etc.

To Submit your article please click here.

International Energy Events


WTI Crude Oil

BRENT Crude Oil

Search News
Latest CoalNews Headlines
Monday, 27 July 20
IEEFA ENERGY FINANCE CONFERENCE 2020: COAL, LNG, PETROCHEMICAL SECTORS FACE POOR OUTLOOK AND UPHILL BATTLE FOR INVESTORS
IEEFA LOGOFossil fuel industries were becoming less financially attractive even before the global coronavirus pandemic
 
Three major fossil fuel-based industries—coal, liquefied natural gas, and plastics—were becoming less financially attractive even before the global coronavirus pandemic, according to experts who spoke during the second week of IEEFA’s 2020 Energy Finance Conference.
 
The annual meeting of international energy, finance and policy experts, which was offered online this year because of COVID-related restrictions, focused on the declining coal industry’s impact on communities; the uncertain prospects for liquified natural gas projects; and the risky financials for petrochemicals projects and the harm they cause to public health.
 
The coal industry has declined over the last decade, said Shannon Anderson, staff attorney for the Wyoming-based Powder River Basin Resource Council. The basin is home to a dozen of the largest coal mines in the world and produces 43 percent of U.S. coal output, but because of a drop in coal consumption—from about 1.1 billion tons in 2007 to 600 million tons in 2019—mining companies are declaring bankruptcy at a steady clip, often leaving behind financial and environmental liabilities.
 
“It’s a mess, and we’ve really got to work collectively to make sure these problems get addressed,” she said. Anderson said lawmakers need to ensure that regions with abandoned mines and coal-fired plants continue to receive funding and that federal legislation, such as the RECLAIM Act that would provide support for revitalizing distressed mining communities, is passed. 

" Lawmakers need to ensure that abandoned coal communities continue to get revitalization support "
 
Mary Varson Cromer, deputy director of the Appalachian Citizens’ Law Center, said bankruptcies such as the summer 2019 declarations by Cambrian Coal and Blackjewel LLC are the “culmination of a shell game” that has cost workers, communities, and local governments. She cited the example of Cambrian, a Kentucky-based holding company that declared bankruptcy in June 2019 – but only after offloading $50 million in debt from one company to Cambrian, roughly doubling the bankrupt company’s debt load.
 
“Bankruptcy allows a company that should not exist to continue to exist,” Anderson said. “And the incentives are really perverse in some of these cases.”
 
The global market for liquified natural gas (LNG), once viewed as a potential destination for the abundance of fracked gas in the U.S., isn’t much better than the market for coal, two IEEFA experts agreed. 
 
Bruce Robertson, an IEEFA energy finance analyst who focuses on the gas industry in Australia and south Asia, said an LNG glut is likely to persist because of a massive expansion of facilities over the last four years; government subsidies to the industry; and continued low demand. In addition, Robertson said, the environmental risks of gas are becoming more obvious, with studies showing that the industry loses roughly 3.2 percent of its production in leaked methane—resulting in fossil gas producing more greenhouse emissions than coal.
 
“[Companies and politicians] have been lying about [gas] emissions for many years,” Robertson said. “It’s a knowing lie. They know they’re lying. And you can only do that for so long in the U.S. before some smarty pants lawyer gets hold of you, and that’s going to happen.”

The LNG glut is likely to persist because of a massive expansion of facilities over the last four years
 
Clark Williams-Derry, a U.S.-based IEEFA energy finance analyst, said the global decline in demand for LNG has led to a sharp reduction in operating capacity. Typically, U.S. LNG facilities operate at 85 percent to 90 percent of capacity, but currently are running between 25 percent and 40 percent. 
 
“It’s looking very grim right now,” he said.
 
Petrochemicals, viewed as a potential economic lifeline that could consume excess feedstock for the oil and gas industry, also is a sector in crisis, said IEEFA Finance Director Tom Sanzillo. A series of projects were planned between 2009 and 2013, when plastics sold for a dollar per pound; since then, prices have fallen to between 40 and 60 cents per pound. Sanzillo said profits from these petrochemical projects are also being threatened by competition from recycling and lower demand caused by the global economic slowdown.
 
“We’re seeing a deterioration of the plastics market right before our eyes,” he said.

A stretch of the Mississippi River is nicknamed “Cancer Alley” because of its concentration of petrochem facilities.
 
Beyond the financial costs to investors of petrochemicals lies a particularly harsh human toll. Sharon Lavigne, founder and president of RISE St. James, a Louisiana-based nonprofit, described the grassroots campaign she has been leading to block construction of a $9.4 billion plastics facility to be located just two miles from her home. The Formosa plant would emit roughly 13 million tons of greenhouse gas in a Louisiana parish where the cancer risk has increased 800 percent over the last decade.
 
In fact, the stretch of the Mississippi River between New Orleans and Baton Rouge is nicknamed “Cancer Alley” because of its concentration of petrochemical facilities.
 
“People are sick and they are dying,” she said. “This is my land, this is my home, and I’m not giving up.” 
 
The last week of the three-week conference will take place July 28-30, from 1-2 p.m. Eastern Daylight Time kicking off with a panel on Renewables Taking Market Share from Fossil Fuels, featuring Luis Reyes, CEO and general manager of the Kit Carson Electric Cooperative, and Dennis Wamsted, an IEEFA analyst/editor. The panel moderator is Karl Cates, IEEFA transition policy analyst.
 
On Wednesday, July 29, the session will focus on Under Pressure: The Impetus for Over-Building Pipelines and How to Stop It, with Niskanan chief counsel David Bookbinder; University of Minnesota Law School Professor Alexandra Klass; and Suzanne Mattei, IEEFA energy policy analyst. The panel will be moderated by Rebekah Sale, executive director of the Property Rights and Pipeline Center.
 
The week’s activity wraps up on Friday, July 30, with a closing keynote address on Political Leadership on Global Climate Change, Divestment and the Energy Transition, featuring William Peduto, mayor of Pittsburgh, and Grant Ervin, Pittsburgh Resiliency Officer. The session will be moderated by Steven M. Carbó, principal for Carbó Strategic Consulting. 
Source: IEEFA


If you believe an article violates your rights or the rights of others, please contact us.

Recent News

Saturday, 27 February 21
CHINA'S BENCHMARK POWER COAL PRICE EDGES DOWN - XINHUA
China’s benchmark power coal price dropped slightly during the past week.   The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...


Saturday, 27 February 21
FITCH RATINGS REVISES GLOBAL METALS AND MINING PRICE ASSUMPTIONS
Fitch Ratings has revised some of its metals and mining price assumptions as prices for many commodities will benefit in the short term from return ...


Saturday, 27 February 21
MITSUBISHI PULLS OUT OF VINH TAN 3 COAL PROJECT IN VIETNAM - NIKKEI ASIA
Japanese trading house Mitsubishi Corp. decided Thursday to withdraw from the Vinh Tan 3 coal-fired power plant project in Vietnam amid growing int ...


Thursday, 25 February 21
ARE WE ON THE CUSP OF ANOTHER MINING SUPER-CYCLE? - WOOD MACKENZIE
As the first wave of the coronavirus pandemic began to bite, many observers confidently predicted that the end was nigh for global economic activit ...


Thursday, 25 February 21
2020 PROVED TO BE A TRULY TERRIBLE YEAR FOR SEABORNE COAL TRADE - BANCHERO COSTA
Total loadings in the 12 months of 2020 were down -12.7% year-on-year to 1,130 million tonnes, according to vessels tracking data from Refinitiv, s ...


   1 2 3 4 5   
Showing 1 to 5 news of total 6239
News by Category
Popular News
 
Total Members : 27,309
Member
Panelist
User ID
Password
Remember Me
By logging on you accept our TERMS OF USE.
Free
Register
Forgot Password
 
Our Members Are From ...

  • Medco Energi Mining Internasional
  • PetroVietnam
  • TNPL - India
  • Petrochimia International Co. Ltd.- Taiwan
  • Arch Coal - USA
  • Bank of Tokyo Mitsubishi UFJ Ltd
  • Romanian Commodities Exchange
  • Straits Asia Resources Limited - Singapore
  • GAC Shipping (India) Pvt Ltd
  • SRK Consulting
  • Electricity Generating Authority of Thailand
  • Xindia Steels Limited - India
  • UOB Asia (HK) Ltd
  • Bahari Cakrawala Sebuku - Indonesia
  • APGENCO India
  • Offshore Bulk Terminal Pte Ltd, Singapore
  • Ind-Barath Power Infra Limited - India
  • Siam City Cement PLC, Thailand
  • Argus Media - Singapore
  • Mitsui
  • Parry Sugars Refinery, India
  • Credit Suisse - India
  • Coeclerici Indonesia
  • J M Baxi & Co - India
  • GB Group - China
  • Cigading International Bulk Terminal - Indonesia
  • World Coal - UK
  • AsiaOL BioFuels Corp., Philippines
  • Mercator Lines Limited - India
  • Uttam Galva Steels Limited - India
  • London Commodity Brokers - England
  • Asia Cement - Taiwan
  • Indonesia Power. PT
  • Interocean Group of Companies - India
  • McConnell Dowell - Australia
  • Cemex - Philippines
  • Sarangani Energy Corporation, Philippines
  • Maharashtra Electricity Regulatory Commission - India
  • Vale Mozambique
  • Adaro Indonesia
  • Petron Corporation, Philippines
  • Heidelberg Cement - Germany
  • EIA - United States
  • IOL Indonesia
  • Agrawal Coal Company - India
  • DBS Bank - Singapore
  • Coal and Oil Company - UAE
  • Meralco Power Generation, Philippines
  • Thomson Reuters GRC
  • Peabody Energy - USA
  • Mitsubishi Corporation
  • TANGEDCO India
  • Kartika Selabumi Mining - Indonesia
  • Ceylon Electricity Board - Sri Lanka
  • New Zealand Coal & Carbon
  • Madhucon Powers Ltd - India
  • Power Finance Corporation Ltd., India
  • Anglo American - United Kingdom
  • OPG Power Generation Pvt Ltd - India
  • Vizag Seaport Private Limited - India
  • Thermax Limited - India
  • Samsung - South Korea
  • Total Coal South Africa
  • Planning Commission, India
  • Cardiff University - UK
  • PTC India Limited - India
  • Standard Chartered Bank - UAE
  • Trasteel International SA, Italy
  • Glencore India Pvt. Ltd
  • Platts
  • Pipit Mutiara Jaya. PT, Indonesia
  • Cosco
  • India Bulls Power Limited - India
  • The India Cements Ltd
  • Platou - Singapore
  • Cargill India Pvt Ltd
  • Asia Pacific Energy Resources Ventures Inc, Philippines
  • Karaikal Port Pvt Ltd - India
  • Britmindo - Indonesia
  • Reliance Power - India
  • Arutmin Indonesia
  • Sinarmas Energy and Mining - Indonesia
  • Lanco Infratech Ltd - India
  • Shenhua Group - China
  • Posco Energy - South Korea
  • RBS Sempra - UK
  • Ministry of Transport, Egypt
  • ASAPP Information Group - India
  • Semirara Mining and Power Corporation, Philippines
  • CCIC - Indonesia
  • Rashtriya Ispat Nigam Limited - India
  • SUEK AG - Indonesia
  • Clarksons - UK
  • Indo Tambangraya Megah - Indonesia
  • Thiess Contractors Indonesia
  • HSBC - Hong Kong
  • KPCL - India
  • The State Trading Corporation of India Ltd
  • Mercuria Energy - Indonesia
  • Oldendorff Carriers - Singapore
  • Holcim Trading Pte Ltd - Singapore
  • TRAFIGURA, South Korea
  • Kideco Jaya Agung - Indonesia
  • Fearnleys - India
  • Makarim & Taira - Indonesia
  • Antam Resourcindo - Indonesia
  • PetroVietnam Power Coal Import and Supply Company
  • Enel Italy
  • Attock Cement Pakistan Limited
  • Africa Commodities Group - South Africa
  • Sree Jayajothi Cements Limited - India
  • Energy Link Ltd, New Zealand
  • Core Mineral Indonesia
  • Merrill Lynch Commodities Europe
  • Billiton Holdings Pty Ltd - Australia
  • Mjunction Services Limited - India
  • Coal India Limited
  • Borneo Indobara - Indonesia
  • Riau Bara Harum - Indonesia
  • Karbindo Abesyapradhi - Indoneisa
  • Petrosea - Indonesia
  • Maersk Broker
  • ANZ Bank - Australia
  • bp singapore
  • Bulk Trading Sa - Switzerland
  • JPower - Japan
  • LBH Netherlands Bv - Netherlands
  • Ministry of Finance - Indonesia
  • Singapore Mercantile Exchange
  • South Luzon Thermal Energy Corporation
  • CNBM International Corporation - China
  • Asian Development Bank
  • Australian Commodity Traders Exchange
  • Salva Resources Pvt Ltd - India
  • San Jose City I Power Corp, Philippines
  • CESC Limited - India
  • Filglen & Citicon Mining (HK) Ltd - Hong Kong
  • Central Electricity Authority - India
  • Mitra SK Pvt Ltd - India
  • Asmin Koalindo Tuhup - Indonesia
  • JPMorgan - India
  • GVK Power & Infra Limited - India
  • Moodys - Singapore
  • UBS Singapore
  • European Bulk Services B.V. - Netherlands
  • PLN Batubara - Indonesia
  • Larsen & Toubro Limited - India
  • Coalindo Energy - Indonesia
  • Jorong Barutama Greston.PT - Indonesia
  • Thai Mozambique Logistica
  • WorleyParsons
  • Bukit Asam (Persero) Tbk - Indonesia
  • CoalTek, United States
  • PLN - Indonesia
  • Directorate General of MIneral and Coal - Indonesia
  • Kaltim Prima Coal - Indonesia
  • Iligan Light & Power Inc, Philippines
  • Tata Power - India
  • Barasentosa Lestari - Indonesia
  • Dong Bac Coal Mineral Investment Coporation - Vietnam
  • KEPCO - South Korea
  • Surastha Cement
  • Kumho Petrochemical, South Korea
  • Aboitiz Power Corporation - Philippines
  • Cebu Energy, Philippines
  • IEA Clean Coal Centre - UK
  • Bhushan Steel Limited - India
  • Barclays Capital - USA
  • Sical Logistics Limited - India
  • GMR Energy Limited - India
  • Indorama - Singapore
  • Coastal Gujarat Power Limited - India
  • BRS Brokers - Singapore
  • Videocon Industries ltd - India
  • Global Business Power Corporation, Philippines
  • The Treasury - Australian Government
  • Tamil Nadu electricity Board
  • McKinsey & Co - India
  • Aditya Birla Group - India
  • EMO - The Netherlands
  • Jindal Steel & Power Ltd - India
  • Dr Ramakrishna Prasad Power Pvt Ltd - India
  • Grasim Industreis Ltd - India
  • Malabar Cements Ltd - India
  • The University of Queensland
  • Edison Trading Spa - Italy
  • Vedanta Resources Plc - India
  • Ambuja Cements Ltd - India
  • Therma Luzon, Inc, Philippines
  • Siam City Cement - Thailand
  • Humpuss - Indonesia
  • Wood Mackenzie - Singapore
  • Global Green Power PLC Corporation, Philippines
  • Jaiprakash Power Ventures ltd
  • ACC Limited - India
  • Inspectorate - India
  • Timah Investasi Mineral - Indoneisa
  • Coal Orbis AG
  • Bhoruka Overseas - Indonesia
  • Maruti Cements - India
  • NALCO India
  • Price Waterhouse Coopers - Russia
  • Minerals Council of Australia
  • Infraline Energy - India
  • Bank of China, Malaysia
  • Gupta Coal India Ltd
  • Russian Coal LLC
  • Economic Council, Georgia
  • Mintek Dendrill Indonesia
  • GN Power Mariveles Coal Plant, Philippines
  • Toyota Tsusho Corporation, Japan
  • Globalindo Alam Lestari - Indonesia
  • Renaissance Capital - South Africa
  • Dalmia Cement Bharat India
  • Indian Oil Corporation Limited
  • Bayan Resources Tbk. - Indonesia
  • Chamber of Mines of South Africa
  • Mechel - Russia
  • Adani Power Ltd - India
  • IHS Mccloskey Coal Group - USA
  • MS Steel International - UAE
  • Geoservices-GeoAssay Lab
  • Kobexindo Tractors - Indoneisa
  • MEC Coal - Indonesia
  • Leighton Contractors Pty Ltd - Australia
  • Bukit Makmur.PT - Indonesia
  • Bangladesh Power Developement Board
  • Alfred C Toepfer International GmbH - Germany
  • SMC Global Power, Philippines
  • Binh Thuan Hamico - Vietnam
  • PNOC Exploration Corporation - Philippines
  • Eastern Energy - Thailand
  • Deloitte Consulting - India
  • Sakthi Sugars Limited - India
  • ICICI Bank Limited - India
  • Altura Mining Limited, Indonesia
  • International Coal Ventures Pvt Ltd - India
  • Freeport Indonesia
  • Carbofer General Trading SA - India
  • Cement Manufacturers Association - India
  • Gresik Semen - Indonesia
  • CIMB Investment Bank - Malaysia
  • Maheswari Brothers Coal Limited - India
  • GNFC Limited - India
  • Jatenergy - Australia
  • GHCL Limited - India
  • Xstrata Coal
  • Directorate Of Revenue Intelligence - India
  • Commonwealth Bank - Australia
  • Ernst & Young Pvt. Ltd.
  • Samtan Co., Ltd - South Korea
  • Neyveli Lignite Corporation Ltd, - India
  • Indogreen Group - Indonesia
  • Malco - India
  • Georgia Ports Authority, United States
  • Parliament of New Zealand
  • Savvy Resources Ltd - HongKong
  • Idemitsu - Japan
  • Star Paper Mills Limited - India
  • Wilmar Investment Holdings
  • Central Java Power - Indonesia
  • SGS (Thailand) Limited
  • Bangkok Bank PCL
  • Qatrana Cement - Jordan
  • Berau Coal - Indonesia
  • SN Aboitiz Power Inc, Philippines
  • Indonesian Coal Mining Association
  • TeaM Sual Corporation - Philippines
  • Shree Cement - India
  • KPMG - USA
  • Bukit Baiduri Energy - Indonesia
  • Ince & co LLP
  • Merrill Lynch Bank
  • Kepco SPC Power Corporation, Philippines
  • ETA - Dubai
  • Inco-Indonesia
  • Ministry of Mines - Canada
  • Indika Energy - Indonesia
  • Sojitz Corporation - Japan
  • Kohat Cement Company Ltd. - Pakistan
  • Rudhra Energy - India
  • BNP Paribas - Singapore
  • Formosa Plastics Group - Taiwan
  • Baramulti Group, Indonesia
  • Meenaskhi Energy Private Limited - India
  • IMC Shipping - Singapore
  • OCBC - Singapore
  • Bhatia International Limited - India
  • Bharathi Cement Corporation - India
  • Marubeni Corporation - India
  • Kalimantan Lumbung Energi - Indonesia
  • Miang Besar Coal Terminal - Indonesia
  • Latin American Coal - Colombia
  • Independent Power Producers Association of India
  • Intertek Mineral Services - Indonesia
  • Bank of America
  • Krishnapatnam Port Company Ltd. - India
  • Gujarat Electricity Regulatory Commission - India
  • Pendopo Energi Batubara - Indonesia
  • Gujarat Sidhee Cement - India
  • Chettinad Cement Corporation Ltd - India
  • Orica Mining Services - Indonesia
  • Tata Chemicals Ltd - India
  • Energy Development Corp, Philippines
  • globalCOAL - UK
  • IBC Asia (S) Pte Ltd
  • Sucofindo - Indonesia
  • TGV SRAAC LIMITED, India
  • Pinang Coal Indonesia
  • Tanito Harum - Indonesia
  • Panama Canal Authority
  • Noble Europe Ltd - UK
  • Thailand Anthracite
  • Simpson Spence & Young - Indonesia
  • Permata Bank - Indonesia
  • NTPC Limited - India
  • SMG Consultants - Indonesia
  • Gujarat Mineral Development Corp Ltd - India
  • U S Energy Resources
  • Global Coal Blending Company Limited - Australia
  • PowerSource Philippines DevCo
  • Essar Steel Hazira Ltd - India
  • Banpu Public Company Limited - Thailand
  • Port Waratah Coal Services - Australia
  • Goldman Sachs - Singapore
  • Eastern Coal Council - USA
  • Truba Alam Manunggal Engineering.Tbk - Indonesia
  • KOWEPO - South Korea
  • White Energy Company Limited
  • Vijayanagar Sugar Pvt Ltd - India
  • Kapuas Tunggal Persada - Indonesia
  • Orica Australia Pty. Ltd.
  • Thriveni
  • Japan Coal Energy Center
  • TNB Fuel Sdn Bhd - Malaysia
  • Manunggal Multi Energi - Indonesia
  • VISA Power Limited - India
  • Runge Indonesia
  • Australian Coal Association
  • Lafarge - France
  • SASOL - South Africa
  • ING Bank NV - Singapore
  • Coaltrans Conferences
  • Rio Tinto Coal - Australia
  • Kobe Steel Ltd - Japan
  • Deutsche Bank - India
  • Maybank - Singapore
  • Vitol - Bahrain
  • Metalloyd Limited - United Kingdom
  • Indian School of Mines
  • World Bank
  • Sindya Power Generating Company Private Ltd
  • Semirara Mining Corp, Philippines