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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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Friday, 16 September 22
DRY BULK MARKET: EU’S BAN ON RUSSIAN COAL LIFTS DEMAND DESPITE ECONOMIC HEADWINDS - BIMCO
Highlights
– The Baltic Exchange Dry Index (BDI) peaked in late May and has since fallen sharply as lower Chinese demand and adverse glob ...
Friday, 16 September 22
BIMCO EMBARKS ON NEW STANDARD FOR “QUIET ENJOYMENT”
KNOWLEDGE TO ELEVATE
A newly set-up BIMCO drafting team involving a cross-section of shipowners, charterers, financing and leasing i ...
Friday, 16 September 22
INDIAN COAL PRODUCTION TO RISE 150 PER CENT IN 10 YEARS: CENTRE - EXPRESS NEWS SERVICE
The Union Ministry of Mines is expecting 150 per cent growth in coal production 10 years down the line as a result of coal reforms that had been us ...
Thursday, 15 September 22
MARKET INSIGHT - INTERMODAL
While the Organization of Petroleum Exporting Countries and its allies agreed on a 100,000 b/d output cut last week, oil flows are in the spotlight ...
Monday, 12 September 22
COAL PRICE HIKE REMAINS DIFFICULT FOR CIL: CHAIRMAN TELLS ANALYSTS - PTI
Coal India on Thursday informed investors that increasing coal prices remains difficult in the current context when the economy is grappling with h ...
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- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
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