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Monday, 31 October 22
U.S. COAL-FIRED GENERATION DECLINING AFTER BRIEF RISE LAST YEAR - EIA
.jpg) We expect 6% less U.S. coal-fired generation in 2022 than in 2021, according to our latest Short-Term Energy Outlook (STEO). Although coal-fired generation declined each year between 2014 and 2020, it rose 16% in 2021 as a result of increased electricity demand and higher natural gas prices following the pandemic. Despite natural gas prices remaining high, coal-fired generation has continued its previous trend of decline this year as a result of constrained coal supply.
Coal and natural gas are two of the most prevalent sources of power generation in the United States. Natural gas-fired power plants that use modern combined-cycle technology can compete effectively with coal-fired generation because they operate with 30% to 35% greater efficiency. This difference affects relative fuel costs between coal and natural gas and the substitution between the two fuels.
Between 2020 and 2021, the delivered cost of natural gas for power generators nearly doubled while the delivered cost of coal grew by only 3%. The increase in natural gas prices caused the share of total natural gas-fired generation to fall to 37% in 2021 from 39% in 2020. In contrast, coal-fired generation increased in 2021 for the first time since 2014 and averaged 23% of U.S. generation, up from 20% in 2020.
The cost of delivering fuel to coal-fired and natural gas-fired generators depends on a wide variety of factors. Wholesale power prices are generally set by the price of natural gas, and natural gas prices have been volatile throughout most of 2022. Compared with coal-fired generators, costs for natural gas-fired generators are more dynamic. Natural gas is bought mostly in the daily, monthly, and seasonal markets to align fuel needs with power sales, which can be highly uncertain. Costs for coal-fired generators are more static because delivered coal prices are mostly based on long-term contracts and remain relatively steady for longer periods. So far this year, as reported to EIA, the delivered price of natural gas has increased more in percentage terms than the delivered price of coal, but natural gas prices for generators may decrease substantially in the fourth quarter.
Despite higher natural gas prices in 2022, we expect natural gas-fired generation will increase slightly this year, and its share of annual U.S. generation will increase from 37% to 38%. The electric power sector is not moving away from natural gas as we expected previously because coal-fired power plants, which have historically acted as a substitute for natural gas generation, have not been receiving enough coal to meet demand. We expect coal production to increase by less than 2% during 2022, and we expect much of that gain to be exported. We expect that the share of generation provided by coal will return to 20% in 2022, down from 23% last year.
Most coal is delivered to power plants by railroads in the United States, which have encountered a number of disruptions this year. Although U.S. coal inventories have been declining in recent years as coal-fired generators have retired, the limitations on coal deliveries have further constrained generators’ ability to replenish stocks and increase generation. During the first seven months of 2022, coal inventories at power plants averaged 23% lower than in 2021.
Source: EIA
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Thursday, 26 May 22
MARKET INSIGHT - INTERMODAL
The newbuilding market activity has been significantly positive from a dry bulk owner perspective during the first half of 2022. Indeed, the contra ...
Wednesday, 18 May 22
INDONESIAN COAL PRICE REFERENCE DROPPED 4.42% IN MAY
COALspot.com: Indonesian Coal Price Reference for May delivery drops 4.42 per cent month on month.
The Indonesian Coal Price Referen ...
Thursday, 12 May 22
MARKET INSIGHT - INTERMODAL
Almost through half of the year, the overall shipping market continues to show signs of healthiness, after plenty of festivities and holidays that ...
Wednesday, 27 April 22
EUROPEAN UNION'S LNG IMPORTS - BANCHERO COSTA
In 2021, the European Union (27) was the third largest seaborne importer of LNG in the world, with a 15.8% share.
It followed Mainla ...
Tuesday, 26 April 22
CHINA'S APPETITE FOR BAUXITE HITS NEW RECORD AS Q1 IMPORTS JUMP 15.4% Y/Y - BIMCO
Bauxite shipments arriving in China hit new record levels in the first quarter of 2022 and grew at an average annual rate of 12.8% between 2017 and ...
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- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Economic Council, Georgia
- Petron Corporation, Philippines
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- PTC India Limited - India
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- White Energy Company Limited
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
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