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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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Tuesday, 22 December 20
SOUTHEAST ASIA'S COAL DEMAND IS SET TO EXPAND AFTER THE PANDEMIC-INDUCED HIATUS IN 2020 - IEA
Coal consumption in Southeast Asia has more than doubled in the last decade, with the largest growth in Indonesia and Viet Nam, followed by Malaysi ...
Tuesday, 22 December 20
COAL DEMAND IS RISING QUICKLY IN PAKISTAN AND MORE SLOWLY IN BANGLADESH - IEA
Pakistan had 150 MW of installed coal power capacity in 2015. Since 2017, in addition to a few small plants for industry, Pakistan has commissioned ...
Tuesday, 22 December 20
AFRICA PERSPECTIVE INDICATES NO MAJOR SHIFTS FOR COAL CONSUMPTION - IEA
Overall countries on the African continent consumed 197 Mt of coal in 2019, 12 Mt less (-6%) than 2018.
South Africa, the continent& ...
Monday, 21 December 20
COAL PRICES WITHSTAND DESPITE COVID-19 AND CHINESE IMPORT QUOTAS - IEA
Coal prices vary by region as well as by grade and quality. The price rebound starting in 2016 ended in 2018, moving in a downward trend in 2019. A ...
Monday, 21 December 20
COAL'S PARTIAL RECOVERY IS SET TO FADE AFTER 2021 - IEA
Global coal consumption is estimated to have fallen by 7%, or over 500 million tonnes, between 2018 in 2020. A decline of this size over a two-year ...
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- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- The University of Queensland
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
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