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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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Thursday, 09 November 23
GREEK AND CHINESE COMPANIES OWN 34% OF THE GLOBAL FLEET’S CARGO CAPACITY - BIMCO
“The global fleet of cargo carrying ships consists of around 61,000 ships with a deadweight capacity of about 2,200 million tonnes. The ships ...
Monday, 23 October 23
CHINA SEPT COAL OUTPUT HITS SIX-MONTH HIGH ON RISING POWER DEMAND - REUTERS
China’s September coal output rose 0.4% from August to the highest level since March, official data showed on Wednesday, on rising power dema ...
Monday, 23 October 23
INDIA COAL INVENTORIES DROP AT FASTEST PACE IN TWO YEARS, BOOSTING IMPORTS - REUTERS
Coal inventories at Indian power plants in the first half of October fell at their fastest rate in two years, an analysis of government data showed ...
Tuesday, 19 September 23
LNG SHIPPING STOCKS: THE ASIAN GROWTH UP-INDICES
Last week, the UP World LNG Shipping Index (UPI) gained 3.81 points or 2.51%, closing at 155.85 points. This index tracks the performance of LNG sh ...
Sunday, 10 September 23
GOLDMAN SACHS PREDICTS OIL PRICE TO HIT $100 ON OPEC CUTS - YAHOO FINANCE
Oil supply cuts by Saudi Arabia and Russia could lead to Brent crude jumping as high as $107 a barrel in 2024, Goldman Sachs Commodities Research h ...
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- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- PTC India Limited - India
- Indian Oil Corporation Limited
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Australian Coal Association
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
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