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Tuesday, 11 April 23
COAL USE CLIMBS WORLDWIDE DESPITE PROMISES TO SLASH IT - AAP
The burning of coal for electricity, cement, steel and other uses went up in 2022 despite global promises to phase down the fuel that is the biggest source of planet-warming gases in the atmosphere, a report has found.
The coal fleet grew by 19.5 gigawatts last year, enough to light up 15 million homes, with nearly all newly commissioned coal projects in China, according to a report by Global Energy Monitor (GEM), an organisation that tracks a variety of energy projects around the globe.
That one per cent increase comes at a time when the world needs to retire its coal fleet four-and-a-half times faster to meet climate goals, the report says.
In 2021, countries around the world promised to phase down the use of coal to help achieve the goal to limit warming to 1.5 C.
“The more new coal projects come online, the steeper the cuts and commitments need to be in the future,” said Flora Champenois, the report’s lead author and the project manager for GEM’s Global Coal Plant Tracker.
New coal plants were added in 14 countries and eight countries announced new coal projects. China, India, Indonesia, Turkey and Zimbabwe were the only countries that both added new coal plants and announced new projects.
China accounted for 92 per cent of all new coal project announcements.
China added 26.8GW and India added about 3.5GW of new coal power capacity to their electricity grids. China also gave clearance for nearly 100GW of new coal power projects with construction likely to begin this year.
But “the long term trajectory is still towards clean energy”, said Shantanu Srivastava, an energy analyst with the Institute for Energy Economics and Financial Analysis who is based in New Delhi.
In Europe, where the Russian invasion of Ukraine meant a scramble for alternative energy sources and droughts stifled hydropower, the continent only saw a very minor increase in coal use.
Others went the other way. There were significant shutdowns in the US, where 13.5GW of coal power was retired. It is one of 17 countries that closed up plants in the past year.
With nearly 2500 plants around the world, coal accounts for about a third of the total amount of energy installation globally. Other fossil fuels, nuclear energy and renewable energy make up the rest.
To meet climate goals set in the 2015 Paris Agreement, coal plants in rich countries need to be retired by 2030 and coal plants in developing countries need to be shut down by 2040, according to the International Energy Agency.
That means about 117GW of coal needs to be retired every year, but only 26GW was retired in 2022.
“At this rate, the transition away from existing and new coal isn’t happening fast enough to avoid climate chaos,” Champenois said.
Source: AAP (Australian Associated Press)
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Tuesday, 13 December 22
YANCOAL AUSTRALIA TO PREPAY $459 MLN DEBT AS RECORD COAL PRICES BOOST CASHFLOWS - REUTERS
Coal miner Yancoal Australia Ltd. said on Friday it intended to prepay $459 million of its debt on or around Dec. 16, as elevated coal prices were ...
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 mor ...
Thursday, 08 December 22
BIMCO TO REVISE WAR RISK CLAUSES
Work to revise the BIMCO War Cancellation Clause 2004, the BIMCO War Risks Clause for Time Chartering 2013 (CONWARTIME 2013) and the BIMCO War Risk ...
Thursday, 08 December 22
COAL ROYALTY PAYMENTS BOOST AUSTRALIAN STATE'S BUDGET FORECAST - REUTERS
Australia’s Queensland state on Wednesday forecast a record surplus for the current financial year, largely driven by higher royalty payments ...
Wednesday, 07 December 22
MARKET INSIGHT - INTERMODAL
China’s coal imports from January to October were 230.1m mt, a decrease of around 10.7% y-o-y (2021 totalled 323.2m mt). The question is if t ...
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- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- White Energy Company Limited
- Petron Corporation, Philippines
- Parliament of New Zealand
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- The University of Queensland
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
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