COALspot.com keeps you connected across the coal world
  • OCTOBER 2021 INDONESIAN COAL PRICE REFERENCE FOR EXPORTS FIXED AT US$ 161.63 A TON
  • OCTOBER 2021 HBA FOR EXPORTS INCREASED BY $11.60 MOM, $85.79 YTM AND $110.63 YOY

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

Wednesday, 13 October 21
MARKET INSIGHT - INTERMODAL
Following up on our insight on May 2021, where we discussed about the Capesize market outlook for the second half of the year, we are pleased to se ...


Wednesday, 13 October 21
FBX INDEX: THE IMPOSSIBILITY OF SHORT-TERM FORECASTING - LARS JENSEN
Will freight rates on Asia-Europe or the Transpacific reach 40.000 USD/FFE in the run-up prior to Chinese New Year 2022? Or will they start droppin ...


Wednesday, 13 October 21
CHINA FLOODS: COAL PRICE HITS FRESH HIGH AS MINES SHUT - BBC
The price of coal used in China’s power plants has surged to a new record high as another of the country’s key mining regions is hit by ...


Tuesday, 12 October 21
BUMA SIGNS CONDITIONAL AGREEMENT FOR AUSTRALIAN ASSET ACQUISITION
PT Tbk. announced that its subsidiary, PT Bukit Makmur Mandiri Utama, through its newly incorporated Australian subsidiary, BUMA International Pty ...


Tuesday, 12 October 21
INDONESIA'S COAL-BASED POWER PLANTS ARE SUBJECT TO CARBON TAX NEXT YEAR, ELECTRICITY COSTS COULD RISE! - CNBC
The Indonesian government is planning plans to implement a carbon tax of IDR 30 per kilogram (kg) of carbon dioxide equivalent (CO2e) or equivalent ...


   5 6 7 8 9   
Showing 31 to 35 news of total 6439
News by Category
Popular News
 
Total Members : 27,602
Member
Panelist
User ID
Password
Remember Me
By logging on you accept our TERMS OF USE.
Free
Register
Forgot Password
 
Our Members Are From ...

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