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Sunday, 09 May 21
HERE'S WHY INVESTORS ARE POURING MONEY INTO COAL, DESPITE ITS BLEAK FUTURE - FORBES
Coal stocks have surged this year – along with the wider energy sector – but experts warn these are likely short-term gains for an industry facing a bleak future as regulators, activists and global governments seek to cut use of fossil fuels to reduce greenhouse gas emissions.
The Coal Footprint in the USA is Bigger Than Just West Virginia
Key Facts
• Coal stocks are benefitting from the upturn in the broader energy sector on expectations of increased demand amid an economic recovery, Tony Zabiegala, chief operating officer at Strategic Wealth Partners in Independence, Ohio, told Forbes.
• Zabiegala added that while coal investors may see some near-term gains this year, they’re facing a longer-term uphill battle as the momentum of investing gravitates towards “green energy” stocks and away from fossil fuels.
• Coal stocks are also benefiting from rising prices of its main rival, natural gas, Tony Scott, managing director of analytics at BTU Analytics, a Denver-based energy analysis and consulting firm, told Forbes.
• Scott noted that some power plants located in the Midwest and Northeast, areas with access to the lowest cost coal, may switch from gas to coal as it’s cheaper to use now.
• Longer term, Scott cautioned, coal generation still “remains at risk” as both federal and state policies target lower carbon emission goals.
• Ed Egilinsky, managing director and head of alternative investments at Direxion, an exchange-traded fund provider, told Forbes that most coal stocks are micro-cap and small-cap in size, a segment of the market that has performed well this year.
Crucial Quote
“I wouldn’t touch coal stocks with a 10-foot pole now [or] in the future. With worldwide government regulation getting tighter and tighter, this presents major headwinds for coal companies. Plus, with the push for alternative energy, investors are already looking to position assets towards clean energy stocks rather than fossil fuel type of energy companies,” said Zabiegala.
Key Background
Stocks in the coal sector have jumped 33.5% year-to-date through Wednesday, according to TradingView, a trading platform, far outperforming the broader S&P 500 index which has gained about 11%. Some coal stocks, including Peabody Energy, CONSOL Energy and Hallador Energy, have surged 96.7%, 65.6%, and 64.6% year to date, respectively. However, by most parameters, the U.S. coal industry is in decline, raising questions about these companies’ long-term viability. Many major countries have planned to phase out their coal industries in the coming years, including Germany, Canada, U.K. and France. The U.S. Energy Information Administration (EIA) said that coal production in the fourth quarter of 2020 plunged 18.8% compared with the same period in 2019. Coal consumption in the U.S. dropped by 6.9% over that period. U.S. coal exports plummeted 26% between 2019 and 2020, EIA noted. Various coal-powered plants in the U.S., including American Electric Power’s Rockport plant in Indiana and The Tennessee Valley Authority, plan to shutter coal plants in the next few years.
Big Number
339. That’s how many coal-powered plants have been retired – or are on their way to shutting down – in the U.S. since 2010, according to environmentalist group the Sierra Club, while 191 plants remain active.
Surprising Fact
But the global coal industry is not dead yet. The world’s two largest coal consumers – China and India– plan to increase consumption this year, according to EIA. China and India alone account for two-thirds of global coal use to feed their escalating electricity demand. Despite China’s pledge to start phasing out coal beginning in 2026 and cut greenhouse gas emissions to net zero by 2060, Beijing officials declared that coal will remain a key part of China’s energy mix. Li Gao, head of the climate change office at China’s Ministry of Ecology and Environment, recently said China will still need to construct more coal-powered plants to guarantee a stable energy supply. Nonetheless, Zabiegala says with innovations in green energy, the global consumption of coal “will decrease-but we are several decades away from turning that corner.”
Tangent
President Biden has committed to cut greenhouse gas emissions in the U.S. by 50%-52% by 2030 over 2005 levels. Researchers, including the Center for Global Sustainability at the University of Maryland, have determined that to meet Biden’s 2030 climate goals, all remaining coal plants in the U.S. must shut down by then.
What To Watch For
Pierce Crosby, general manager, at TradingView, told Forbes that although coal and non-renewable energy companies have yet to be hit by any aggressive regulatory restrictions from the Biden administration, “if we see more demand for stricter penalties around non-renewables, these companies could sink quickly.”
Source: Forbes
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Saturday, 08 May 21
THE COAL-TO-RENEWABLES TRANSITION TAKES OFF - IEEFA
Pre-Biden changes underscore coming 10-year wave of coal plant retirements
The traditional S-curve growth exhibited by disruptive te ...
Friday, 07 May 21
CHINA'S TOTAL COAL IMPORTS FOR 2020 REACHED A VOLUME OF 304 MILLION TONS - ASSOCARBONI
Our benchmarks, manufacturing Countries like China, Germany, Japan, India, South Korea and Taiwan will continue to use a mix of coal and nuclear to ...
Friday, 07 May 21
SEABORNE WORLD COAL TRADE CLOSED 2020 IN NEGATIVE - ASSOCARBONI
Coal confirmed its leadership as leading fuel for electricity generation also in 2020, accounting for 38% of overall production. For the first time ...
Friday, 07 May 21
INDONESIA'S THERMAL COAL EXPORTS IN 2020 DECREASED BY 13%; INDIA REMAINED THE TOP DESTINATION FOR INDONESIAN COAL - ASSOCARBONI
An increase in seaborne trade is forecast for 2022, driven by markets in Southeast Asia, where growing demand for coal from Bangladesh, the Philipp ...
Friday, 30 April 21
HIGH-SULPHUR FUEL OIL SALES REBOUND AFTER PRE-IMO 2020 - BIMCO
HSFO sales are up 47.2% from Q1 2020, reaching 3.1m tonnes. This is however still less than a third of high-sulphur fuel sales in Q1 2019, before t ...
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- South Luzon Thermal Energy Corporation
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- Indian Oil Corporation Limited
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- New Zealand Coal & Carbon
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- Petron Corporation, Philippines
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- Eastern Coal Council - USA
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- Economic Council, Georgia
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- Straits Asia Resources Limited - Singapore
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- Global Coal Blending Company Limited - Australia
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- Latin American Coal - Colombia
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- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
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- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
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- ICICI Bank Limited - India
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- Toyota Tsusho Corporation, Japan
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- GVK Power & Infra Limited - India
- The University of Queensland
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- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- Trasteel International SA, Italy
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- Deloitte Consulting - India
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- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
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- Siam City Cement PLC, Thailand
- Planning Commission, India
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- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
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- Ministry of Mines - Canada
- Bangladesh Power Developement Board
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- McConnell Dowell - Australia
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- Chamber of Mines of South Africa
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- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
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- Sinarmas Energy and Mining - Indonesia
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- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
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- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
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- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
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