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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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Saturday, 25 March 23
COAL INDIA HAS STRONG CASE TO INCREASE PRICES, TALKS ON: CMD AGRAWAL - BUSINESS STANDARD
Coal India (CIL) Chairman and Managing Director Pramod Agrawal said on Monday there is a “strong case” for increasing coal prices, and ...
Saturday, 25 March 23
ASIAN CRUDE PALM OIL WATCH 1Q23 - FITCH RATINGS
Malaysian benchmark crude palm oil (CPO) spot prices have averaged around USD915 per tonne (t) so far in 1Q23, sharply lower than the average of ar ...
Saturday, 25 March 23
INDONESIA’S COAL EXPORT INCREASED BY 21.0% YOY TO 388.4 MLN T IN 2022 - BANCHERO COSTA
After a slow start in the first quarter, global coal trade has really picked up pace last year, and is now fully back to pre-Covid levels. In the f ...
Saturday, 25 March 23
GLOBAL LNG-ASIA SPOT PRICES SLIP AS WEAK NORTHERN DEMAND REMAINS - REUTERS
Asian spot prices of liquefied natural gas (LNG) declined this week, falling to a 21-month low, as weak demand in the northeast Asia region continu ...
Wednesday, 22 March 23
OIL PRICE FALL SPECULATIVE, TO HIT $140 BY YEAR-END -ANDURAND: REUTERS
The recent fall in oil prices due to banking jitters is speculative and oil will hit $140 a barrel by the end of the year, hedge fund manager Pierr ...
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- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
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