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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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Tuesday, 17 January 23
CHINA'S SHANXI TARGETS 2023 COAL PRODUCTION OF NEARLY 1.37B TONS - XINHUA
China’s coal-rich province of Shanxi has set a coal production target of nearly 1.37 billion metric tons for 2023, according to a government ...
Tuesday, 17 January 23
MARKET INSIGHT - INTERMODAL
Rumor has it that the New Year has come, to set the pace in, for Russia to continue hostilities against Ukraine. Ten months on the go, into Russia& ...
Tuesday, 17 January 23
INDONESIA IS ACCOUNTING FOR 32.3% OF THE GLOBAL SEABORNE COAL MARKET IN 2022 - BENCHERO 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, Benchero ...
Tuesday, 10 January 23
INDONESIAN HBA IS SEEING A SPIKE IN JANUARY 2023 INSTEAD OF A SIGNIFICANT FALL IN DECEMBER 2022
COALspot.com: Indonesian Coal Price Reference up 8.43% in January 2023.
HBA is seeing a dramatic spike in January 2023 i ...
Sunday, 08 January 23
INDIAN COAL POWER PLANTS SHOULD BE COMPENSATED FOR 2022 FORCED GENERATION – REGULATOR : REUTERS
Indian power plants that rely on imported coal should be fully compensated when forced to supply electricity, the country’s power regulator s ...
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- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- India Bulls Power Limited - India
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- The University of Queensland
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
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