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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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Monday, 31 October 22
CHINA COAL OUTPUT UP 12.3 PCT IN SEPTEMBER - XINHUA
China’s raw coal output posted stable expansion in September, official data showed.
The country produced 390 million tonnes of ...
Wednesday, 26 October 22
BIMCO PUBLISHES UPDATED GENCON CONTRACT
BIMCO has published a revised and updated version GENCON 2022 – one of its flagship contracts within its portfolio of standard contracts for ...
Monday, 24 October 22
KOSPO TO INVITE 400,000 MT OF COAL FOR 3 YEARS
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an international tender for 400,000 MT of 3,800 - 4,400kcal/kg NCV and Sulfur Max 0 ...
Wednesday, 19 October 22
ASIA COULD BE A BRIGHT SPOT AMID GLOBAL DOWNTURN NEXT YEAR, ECONOMISTS SAY - CNBC
Asia — especially Southeast Asia — remains a bright spot, even as the global economy looks set to head into recession next year, econom ...
Wednesday, 19 October 22
WHAT WILL THE GAS MARKET LOOK LIKE IN A NET ZERO WORLD? - WOOD MACKENZIE
The global gas and LNG market faces a number of ‘great unknowns’. With the market in turmoil uncertainty abounds – from the scale ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
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