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Tuesday, 13 December 22
WHY COAL LEADS THE RISE IN COMMODITIES THIS YEAR - MARKETWATCH
This year marked a resurgence for coal, often known — and loathed — by environmentalists as the dirtiest energy source, with prices more than doubling since the end of last year.
Traders are now torn between prospects for a continued rally and a pullback on the heels of global efforts toward net-zero emissions.
Based on the most-active contracts traded on ICE, futures for Newcastle coal NCFF23, -1.61%, the Asian-Pacific region benchmark for thermal coal that’s exported from the Newcastle coal terminal in Australia, was at $408.80 on Dec. 6, up 141% from Dec. 31, 2021, according to FactSet data. Coal’s gain this year leads the overall rise among major commodities.
Tight supply due to wet weather in Australia hampering production; strong demand from India, China, and others; and the European energy crisis” all contributed to strength in coal prices, says Will Rhind, founder and CEO of GraniteShares, which runs the GraniteShares Bloomberg Commodity Broad Strategy No K-1COMB +0.38% exchange-traded fund COMB, +0.52%.
Following Russia’s invasion of Ukraine, European countries scrambled to replace Russian energy with alternatives, as Russian natural-gas supplies to Europe were mostly cut off. China has been “extracting record amounts of coal from its own mines as it seeks to insulate itself from the volatility seen in global energy markets,” says Rhind. “Outages from other European energy sources, such as hydro and nuclear plants…exacerbated the situation.”
Overall, “coal remains the largest source of electricity in the world,” he says. It’s the “cheapest to mine, easy to transport, and efficient to burn.”
Coal accounted for about 36.5% of the global power mix in 2021, followed by natural gas with a 22% share, according to Statista. In the U.S., coal accounted for 21.9% of the total 2021 amount of electricity generated at domestic power facilities, while 38.4% was sourced from natural gas, according to the Energy Information Administration.
Global supply of high quality thermal coal has been tight since before the invasion of Ukraine, says Wendy Schallom, coal analyst, analytics, at S&P Global Commodity Insights. The resulting ban on imports of Russian material by the European Union, Japan, and others, and the search for replacement coal, exacerbated the spot coal price rise, she adds.
There has also been a “diversion of coal supply,” originally destined for Asia, moving to Europe to replace the high-quality Russian supplies, says Schallom.
“Fuel switch price signals” had been firmly in favor of hard coal generation since the fourth quarter of 2021, she says, but the recent sharp fall in European gas hub prices means that those price signals reversed in October, with coal-to-gas switching settling in for the first time in more than a year.
If European gas prices recover as expected, fuel switch price signals will reverse again, with gas-to-coal switching likely to soon return, Schallom says. “This will put renewed pressure on German gas and support German hard coal generation.”
Meanwhile, it isn’t surprising that strong use of coal represents a setback in the world’s efforts to meet net-zero emissions by 2050. Developed nations need to entirely eliminate coal plants by 2030, and the rest of the world by 2040, to meet that goal, says GraniteShares’ Rhind. The two largest coal consumers, however —India and China — are investing even more in coal, expanding their power-plant network through the end of the next decade, he says.
Rhind expects global coal demand to remain high, but prices may “moderate” in 2023, especially if there’s a resolution to the Russia-Ukraine war. Supply will remain constrained, but ironically, higher coal prices will almost certainly contribute to increased demand for renewable energy “in order to find cheaper, more environmentally friendly, and independent sources of energy.”
Source: MarketWatch
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Friday, 05 January 24
BANGLADESH’S 2023 COAL-FIRED POWER OUTPUT TRIPLED, EASING SHORTAGES - REUTERS
Bangladesh nearly tripled its coal-fired power output in 2023, a Reuters analysis of government data showed, helping it tide over the worst power s ...
Tuesday, 02 January 24
COAL TRADE CONTINUES TO HEAD EAST - BALTIC EXCHANGE
The global coal trade, once concentrated in the Pacific and Atlantic basins, is undergoing a significant transformation, as highlighted in the Inte ...
Tuesday, 02 January 24
COAL CARGOES: AVOIDING EXPLOSION AND SELF-HEATING - GARD
KNOWLEDGE TO ELEVATE
Despite its contribution to greenhouse gas emissions, global coal consumption climbed to an all-time high in 2022 and is ...
Tuesday, 02 January 24
SINOPEC FORECASTS CHINA’S COAL CONSUMPTION TO PEAK AROUND 2025 - REUTERS
China Petrochemical Corp, or Sinopec, expects coal consumption to peak around 2025 at 4.37 billion metric tons, the state energy group said in an o ...
Thursday, 07 December 23
CHINA TO SET UP COAL PRODUCTION RESERVE TO STABILISE PRICES - REUTERS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
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- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- The University of Queensland
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
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