COALspot.com keeps you connected across the coal world
  • SEPTEMBER 2021 HBA FOR EXPORTS INCREASED BY $19.04 MOM, $74.19 YTM AND $100.61 YOY
  • SEPTEMBER 2021 INDONESIAN COAL PRICE REFERENCE FOR EXPORTS FIXED AT US$ 150.03 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
Thursday, 26 November 20
DECLINE IN COAL EXPORTS ADDS TO NAVAJO-OWNED COMPANY'S PROBLEMS - IEEFA U.S.
IEEFA LOGOWeak demand and low prices are likely creating steep losses for NTEC
 
U.S. coal exports to Asia—once heralded as the saving grace for struggling coal producers in the western United States—are facing new strains from low prices and weak demand in the wake of the global COVID-19 crisis. 
 
In its third-quarter financial statement released earlier this month, Westshore Terminals in British Columbia, the primary terminal for U.S. thermal coal bound for the Pacific Rim of Asia, reported a 47% quarter-over-quarter drop in thermal coal exports. Quarterly thermal coal shipments from the terminal fell to their lowest level since 2016, when global coal markets were overwhelmed by a massive supply glut that sent seaborne coal prices crashing.
 
Even though the Westshore terminal is in Canada, virtually all of its shipments of thermal coal—the type burned in power plants—come from U.S. mines, mostly located in Montana. Data from the U.S. Mine Safety and Health Administration suggest that Montana’s Spring Creek mine, owned by the Navajo Transitional Energy Company (NTEC), bore the brunt of the decline. Coal production at Spring Creek totaled 2.2 million tons during the third quarter of 2020, down from about 3.9 million tons during the year-ago quarter. On an annualized basis, Spring Creek production has now fallen to its lowest level since 2003 (See Figure 1).
 
Meanwhile, production at the Signal Peak mine, the other major U.S. thermal coal exporter that ships through Westshore, held roughly steady compared to the year-ago quarter. (Signal Peak has been in the news for other reasons, having to do with a fraud and embezzlement scheme perpetrated by former executives. Signal Peak is partially owned by FirstEnergy, also in the news for fraud allegations.) Westshore doesn’t disclose its customer volumes, but Signal Peak’s relatively stable production during the quarter suggests that NTEC’s Spring Creek mine accounted for the bulk of the decline in thermal coal exports through Westshore.
 
In a related wrinkle, Westshore reported that it took in “$2.6 million [Canadian] of customer shortfall payments” from July through September. This means that at least one of the terminal’s shippers is paying penalties for shipping less coal than promised. 
 
If last quarter’s shortfall payments are indeed coming from NTEC, the company is probably paying even more in penalties to BNSF, the rail company that moves Spring Creek coal to Westshore. (Documents from the 2019 bankruptcy filing of Cloud Peak Energy, the previous owner of the mine, suggest the company paid a little over $25 per ton in rail fees, more than twice as much as Westshore charges to ship a ton of coal.)
 
Cloud Peak shelled out millions of dollars in such payments to both BNSF and Westshore during times of low international prices, and—ironically enough—frequently shipped coal at a loss to avoid even steeper losses from contractual penalties. 
 
NTEC touted its purchase in 2019 of Powder River Basin mines as a “prudent investment,” pointing to a study (commissioned by the company itself) arguing that Spring Creek exports held the “potential for high profitability.” Yet Cloud Peak had also had made big bets on Spring Creek exports—and those bets helped cement the company’s financial collapse. 
 
Now, NTEC’s gamble on coal exports is backfiring—just as it backfired on Cloud Peak.
 
This will only worsen difficulties for NTEC, which has recently agreed to an ill-advised expansion of its stake in the aging coal-fired Four Corners power plant in New Mexico and whose core business—coal production for the domestic electricity industry—is in severe decline, and not just because of COVID but because utility companies continue to aggressively abandon coal for cheaper and more modern forms of generation.


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

Recent News

Tuesday, 21 September 21
CHINESE COAL IMPORTS FROM AUSTRALIA DROP 98.6% AS RESTRICTIONS BITE - BIMCO
In the first seven months of the year Chinese coal imports from Australia have totalled just 780,000 tonnes as Chinese restrictions on Australian c ...


Tuesday, 21 September 21
CHINA'S COAL OUTPUT RESUMES GROWTH IN AUGUST - XINHUA
China’s raw coal output rose 0.8 percent year on year to 340 million tonnes last month, official data showed.   The growth rate ...


Wednesday, 15 September 21
MARKET INSIGHT - INTERMODAL
Following the oil price sell off during most of August, partly triggered by oil demand fears amid the delta COVID variant, oil prices have resumed ...


Saturday, 11 September 21
CIL STEPS UP SUPPLY COAL TO POWER SECTOR; PER-DAY AVERAGE 20 PC HIGHER THAN LAST YEAR - PTI
State-owned CIL on Friday said it has stepped up the supply of coal to the power sector in the first eight days of the current month, with an avera ...


Saturday, 11 September 21
RECORD CHINESE COAL FUTURES SIGNAL NEED TO BOOST OUTPUT - REUTERS
China’s coal prices have climbed to a record high, signaling the need for more production in the short term, even as the government tries to ...


   1 2 3 4 5   
Showing 6 to 10 news of total 6392
News by Category
Popular News
 
Total Members : 27,565
Member
Panelist
User ID
Password
Remember Me
By logging on you accept our TERMS OF USE.
Free
Register
Forgot Password
 
Our Members Are From ...

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