We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Thursday, 17 December 20
CHINA'S BAN IS LESS OF A THREAT TO AUSTRALIA'S COAL INDUSTRY THAN INTERNATIONAL CLIMATE AMBITION - IEEFA
 Australian coal exporters will survive this near-term political fight but there are longterm structural headwinds
The decision by China’s National Development and Reform Commission to formally and indefinitely block Australian coal imports is a key threat to Australia’s political and economic wellbeing. Australia can never expect to win a trade war with its biggest export partner, and it is sheer political and economic suicide to try to do so. But is it devastating for the Australian coal export industry? Not at all.
Far more strategically threatening in the long term for Australia and our coal industry is the pledge by China’s president Xi Jinping to reach net zero emissions by 2060, which was rapidly followed by net zero emissions by 2050 pledges from Japan’s prime minister Yoshihide Suga and South Korea’s president Moon Jae-in. This series of sudden and powerful pledges of increased climate ambition by world leaders is likely to be terminal for our coal exports if we look out a couple of decades.
Australia is caught in the geopolitical quandary of having China as our key trade partner and the United States as our key military ally. When US president Donald Trump started a trade war with China, it was never going to turn out well for Australia. And incoming president Joe Biden is unlikely to change tack too materially where China and trade and technology are concerned (whereas on climate, Biden’s arrival changes everything). But we in Australia are like a mouse caught in the middle of two sparring elephants.
In business, the best rule is that the customer is always right (even if they are not). Our coal exporters will however survive this near-term political fight, probably far better than our wine or lobster export industries, by comparison.
There are no coal ships destined for China being loaded in Australia now. For most industries, that would be devastating. For coal, not so much. In fact, a look at the share prices of Whitehaven Coal and New Hope Corporation would suggest quite the opposite. Since the September 2020 trough, and acknowledging the sharp price falls on Tuesday, Whitehaven shares have rallied 70% and New Hope are up almost 20%.
Why? Coal is coal, at least to a finance analyst like me, if not an engineer. Australia sells the vast majority of its coal to Japan, South Korea and Taiwan. And if China buys more Russian, South African and Indonesian coal to replace Australian coal, then we can, by and large, simply swap customers, maybe with a month’s disruption. Total demand doesn’t change, nor does supply – at least not in the near term. Sure, there are some boiler and blending constraints, but notwithstanding coal luddite claims that Australia’s coal is slightly less carbon polluting than someone else’s seaborne coal, the minute difference is irrelevant – all coal is almost 100% more carbon intensive than wind, solar, hydro, nuclear or energy efficiency. Or green ammonia, as Japan’s JERA is now thinking.
The coal industry is actually benefiting from a near-term relief rally. In September Australian coal exporters were losing money with every tonne of coal they exported. In December, the picture is very different. China’s key Shanxi province has just shut down coal production near term due to a spate of deadly accidents, just as winter heating demand has kicked in. Meanwhile the Chinese industrial economy is powering along. So the Chinese domestic thermal coal price has jumped 35% to 740/t yuan in the last three months. Seaborne thermal coal prices have rallied from a low of US$46/t to over US$70/t in the same timeframe. Even as total volume of Australian coal exports have dropped in the December quarter, the value has surged, and more importantly, the profitability much more so (notwithstanding the 10% rally in the Aus$/US$, lifted by the unprecedented rally in iron ore prices). Hence the Whitehaven Coal and New Hope increase in share price.
The coal export sector outlook seems profitable again – in the near term. But the 25% collapse in the Dalrymple Bay Coal Terminal share price since its initial public offering last week is a clearer perspective of the longterm structural headwinds Australia’s coal industry is facing. Far better for our Hunter Valley, La Trobe Valley and Bowen Basin communities that we as a nation acknowledge the science of climate change, prepare a national roadmap, ideally with a destination and time of arrival clearly acknowledged.
The investment, employment and export opportunities for Australia are enormous, and exciting. To steal a very good line from Ross Garnaut and Mike Cannon-Brookes – better we focus on building Australia as a renewable energy superpower.
This commentary first appeared in The Guardian.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Tuesday, 29 December 20
CORROSION-RESISTANT STEELS FOR CARGO OIL TANKS - DNV GL
KNOWLEDGE TO ELEVATE
Crude oil is a complex mixture of substances at varying ratios and in most cases contains at least some salt water. ...
Tuesday, 29 December 20
CHINA COKING COAL FUTURES RISE FOR THIRD DAY ON SUPPLY WORRIES - REUTERS
Chinese coking coal futures extended gains into a third session on Monday, jumping as much as 6.2% as lower imports, sliding inventories and mines ...
Wednesday, 23 December 20
COKING COAL'S DECLINE LIKELY TO FOLLOW THE PATH OF THERMAL COAL’S PROGRESSIVE DEMISE - IEEFA
Technology disruption the likely theme of global energy markets in 2021
There has been a growing tsunami of climate commitment annou ...
Wednesday, 23 December 20
MARKET INSIGHT - INTERMODAL
As we all know, China forges more steel than the rest of the world combined, and even during this unprecedented pandemic, the nation is set to brea ...
Tuesday, 22 December 20
2021 DRY BULK OUTLOOK - SUPPLY GROWTH - TORVALD KLAVENESS
In the first article in the series we mentioned that dry bulk freight was in a super cycle between 2001 and 2008. The growth in global yard capacit ...
|
|
|
Showing 686 to 690 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- White Energy Company Limited
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
|
| |
| |
|
