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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, 01 December 23
COAL MINERS GROUP EXPECTS INDONESIA’S 2023 COAL OUTPUT TO SURPASS TARGET - REUTERS
The Indonesian Coal Mining Association (ICMA) expects the country’s 2023 coal output to surpass the official target of 695 million metric ton ...
Friday, 24 November 23
COAL IMPORTS TO INDIA IN OCTOBER 2023 REACHED HIGHEST LEVELS IN NEARLY A YEAR AND A HALF - VESSELSVALUE, VESON NAUTICAL
In October, coal imports to India reached 13.8 mt in October 2023, according to Oceanbolt, a Veson Nautical solution, the highest level since May 2 ...
Friday, 24 November 23
COAL SHIPMENTS TO ADVANCED ECONOMIES DOWN 17% SO FAR IN 2023 - BIMCO
In the first ten months of 2023, coal shipments to advanced economies fell by 17% y/y, as demand for electricity declined and the share of electric ...
Friday, 24 November 23
INTELLIGENT COAL MINES CONTRIBUTE TO IMPROVING SAFETY STANDARDS - CHINA DAILY
Mechanization, automation and intelligent upgrades have contributed to improved safety in coal mines, though the level of development of intelligen ...
Friday, 24 November 23
WHY AUSTRALIA'S COAL MINES ARE GETTING BIGGER - IEEFA
Australia’s largest coal mines are getting larger. Mines in New South Wales (NSW) are ramping up production following the state’s recov ...
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- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Central Electricity Authority - India
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- MS Steel International - UAE
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
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