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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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Friday, 15 January 21
OVER US$50 BILLION IN GAS POWER PROJECTS AND LNG IMPORT FACILITIES AT RISK OF CANCELLATION IN BANGLADESH, PAKISTAN AND VIETNAM - IEEFA
Pakistan and Bangladesh have already cancelled tenders for LNG imports
Emerging markets such as Vietnam, Pakistan and Bangladesh tha ...
Friday, 15 January 21
VIETNAM'S EXTRAORDINARY ROOFTOP SOLAR SUCCESS DEALS ANOTHER BLOW TO THE REMAINING COAL PIPELINE - IEEFA
9.3 gigawatts peak of solar capacity, equal to 6 coal power plants, installed in less than a year
Vietnam’s solar power indust ...
Friday, 15 January 21
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Thursday, 14 January 21
KOREA MIDLAND POWER INVITED BIDS FOR AUSTRALIAN COAL FOR THREE YEARS SUPPLY
COALspot.com: Korea Midland Power Co. Ltd, issued an International tender for total 1,560,000 MT of Min.5,700 kcal/kg NCV coal of Australian Origin ...
Wednesday, 13 January 21
CHINA THERMAL GENCO PROFITS FACE PRESSURE AMID POWER SHORTAGES - FITHCH WIRE
High coal and gas prices will put near-term pressure on margins for thermal power generators in China, says Fitch Ratings. However, the power short ...
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- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- The University of Queensland
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- White Energy Company Limited
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
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