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.
|
|
Wednesday, 19 August 20
MISC MARKS ITS MAIDEN FORAY INTO MAJOR DEEP-WATER PROJECT IN LATIN AMERICA WITH MERO 3 FPSO
MISC Berhad (MISC) is pleased to announce its acceptance of Letter of Intent (LOI) from Petróleo Brasileiro S.A. (Petrobras) for the provisi ...
Wednesday, 19 August 20
MARKET INSIGHT - GEORGE LAIOS | INTERMODAL
Since the Covid-19 outbreak, governments and central banks around the globe have been using their ammunition and stimulus packages to keep their ec ...
Wednesday, 19 August 20
INDIA SAW A SHARP DECLINE IN ENERGY COAL IMPORTS IN JANUARY - JUNE 2020; –27 PER CENT YOY - BHP
Energy coal prices were weak in the second half of financial year 2020, BHP says in its Economic and Commodity Outlook FY20.
Accordi ...
Wednesday, 19 August 20
COAL PRICES TO REMAIN SUBDUED THIS FISCAL AMID WEAK DEMAND, HIGH INVENTORY - THE HINDU BUSINESS LINE
Coal offtake is improving gradually as lockdown eases
Coal prices are expected to remain subdued to weak demand and high inventory l ...
Tuesday, 18 August 20
BLACKBALLED: WILL COAL BOUNCE BACK FROM SLUMP OR IS IT TERMINAL? - SYDNEY MORNING HERALD
Even by the standards of this miserable year, 2020 has been a shocker for the global coal industry.
As the lockdown kicked in demand ...
|
|
|
Showing 826 to 830 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- White Energy Company Limited
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- PTC India Limited - India
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Independent Power Producers Association of India
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
|
| |
| |
|
