We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Thursday, 14 October 21
SPIKING COAL PRICES: DON’T BLAME THE ENERGY TRANSITION - IEEFA
 Volatility highlights urgency for renewables-based energy solutions
“Energy crisis.” The phrase evokes nearly-forgotten images of gasoline queues in the 1970s, but increasingly describes the spike in global fossil fuel prices. A handful of commenters eagerly lay the blame on renewable energy, which they claim has distracted the world’s attention from investments in oil, gas, and coal production that could have calmed markets.
But a sober analysis suggests that today’s energy price crunch has nothing to do with renewables. After all, price spikes aren’t unique to energy. Computer chips, lumber, copper, and iron ore are among the many commodities and products that have seen global price spikes and shortages this year. As the COVID-19 pandemic raged and then eased—alternately slamming the brakes and flooring the accelerator of the global economy—volatility became the rule rather than the exception.
A close look at the surge in global coal prices is instructive. Prices for some low-grade thermal coals have quadrupled on international markets since last year’s lows. COVID-induced volatility bears much of the blame. But price spike also has its roots in the world’s largest coal market, China, which produces (and consumes) half the world’s coal and meets 60 percent of its energy needs from the mineral.
Over the past year, China has experienced domestic coal shortfalls and shrinking stockpiles that forced the country to boost its imports. Given the country’s outsized appetite for coal, even a modest boost in imports quickly sent seaborne coal prices skyrocketing. The recipe for China’s coal shortages had at least five key ingredients, none related to the country’s renewables policies:
A mine safety crackdown. The Chinese coal mining sector has been a risky business. The state-run Xinhua News Agency reported that 225 coal miners died in China during 2020 in 122 accidents. But in the wake of a cluster of fatalities, federal authorities launched a major safety inspection effort in November 2020. The heightened scrutiny was blamed for a slowdown in production that began in April, a month after China boosted penalties for mine accidents. The prospect of jail time made mining executives reluctant to boost output even as supplies tightened.
Curbs on overproduction. China’s coal mining sector had struggled over much of the past decade with overcapacity that flooded markets with cheap coal—making it hard for many firms to find profits. Last November, just as China’s government was cracking down on coal mine safety, it also stepped up inspections for quota violations—once again making it risky for mining companies to boost supplies.
An anti-corruption campaign in Inner Mongolia. One of China’s most sparsely populated provinces, Inner Mongolia produces roughly one-quarter of the nation’s coal. President Xi Jinping announced in March that the government would investigate coal industry corruption in the region in a campaign that would “never end.” (The campaign focused, in part, on companies producing more coal than their quotas.) Top officials in the regional government have been sent to jail for more than a decade, with one given a suspended death sentence. In early 2021, the government was investigating almost 700 corruption cases involving about 1,000 people. The campaign, which was expanded across the country, also encouraged coal mining firms to curb their production to avoid becoming entangled in an investigation.
A halt to Australian coal imports. Tensions between Australia and its largest trading partner heated up last year, largely due to China’s territorial claims in the Pacific Ocean and the Australian government’s call for a “weapons inspector”-type investigation of the origins of the COVID-19 virus. China responded by blocking Australian coal imports in November 2020. The squabble led Beijing to seek out other markets for coal imports from Indonesia, Russia, the United States and South Africa. The shift contributed to a tripling in the price of lower-grade Indonesia coal over the summer.
Weather: Too cold, too hot, and too wet. An unusually cold 2020-21 winter in North Asia prompted blackouts in some regions. At least nine grid systems in northern provinces recorded record demand in early January. Summer heat waves continued to pressure the coal supply. Now winter approaches, and major power plants reported having about a 10-day stockpile of coal, roughly half of last year’s total. The country, desperate to boost coal consumption, faces a new weather-related obstacle: Record-breaking floods have shut down 60 mines in Shanxi province, a region that produces 30 percent of China’s coal.
These factors, together with COVID, helped precipitate a domestic coal crunch in China that quickly spread around the planet. Those who would blame the growth of renewables for China’s coal shortages are grasping at straws. If anything, ramping up investments in renewables would ease the country’s reliance on volatile, unpredictable fossil fuel supplies.
As for China, so for the world. Until the planet completes its transition to a renewable energy-based economy, supply and demand shocks—such as the ones currently traveling around the globe—will be a fact of life.
By Clark Williams-Derry
Energy Policy Analyst
IEEFA
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Saturday, 16 October 21
DESPITE HIGHER COAL PRICES, U.S. COAL RECOVERY LOOKS WEAK BY MOST MEASURES - IEEFA
U.S. coal sector is locked into a long-term sectoral decline
Coal prices have surged to the highest level in years in the U.S., and have soare ...
Saturday, 16 October 21
COAL IS 'KING' AS GAS PRICES SOAR, TOTAL CEO SAYS - AND IT’S BACKFIRING ON CLEANER ENERGY GOALS - CNBC
Surging natural gas prices have led to a jump in coal use, with plants in Europe and Asia firing back up as temperatures decline and the world grap ...
Saturday, 16 October 21
VIETNAM'S COAL-FIRED POWER MAY DOUBLE BY 2030 UNDER DRAFT ENERGY PLAN - REUTERS
Vietnam may double the amount of coal-fired electric generation it installs by 2030 under a draft power development plan submitted to the prime min ...
Friday, 15 October 21
AUSTRALIA'S WHITEHAVEN EXPECTS TO BE DEBT-FREE NEXT YEAR AS COAL PRICES SOAR - REUTERS
Australia’s Whitehaven Coal WHC.AX said on Thursday it expects to be debt-free by early 2022, as thermal coal prices surge to record highs on ...
Friday, 15 October 21
WINTER CHILL KEEPS CHINA'S COAL PRICES HIGH, POWER CRUNCH STOKES INFLATION - REUTERS
China coal prices held near record highs on Thursday as cold weather swept into the country’s north and power plants stocked up on the fuel t ...
|
|
|
Showing 451 to 455 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Goldman Sachs - Singapore
- VISA Power Limited - India
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- The University of Queensland
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Australian Coal Association
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
|
| |
| |
|
