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Friday, 10 November 23
COAL USE AT U.S. POWER PLANTS CONTINUES DOWNWARD SPIRAL; FULL IMPACT ON MINES TO BE FELT IN 2024 - IEEFA
 This year, the use of coal by the U.S.’s power producers has been so anemic that the fuel has not achieved a 20% market share in any month so far, and the current outlook predicts low levels for the rest of the year. To put that into perspective, coal’s power market share had never been less than 20% in any month before 2020, according to the U.S. Energy Information Administration (EIA).
In July 2023, for example, coal hit its high point for the year so far, providing 19.1% of the country’s power; in August its market share was 19.0%. That performance stands in stark contrast to 2021, when coal’s market share in both July and August was more than 25%—roughly 6 percentage points higher. The low point this spring occurred in April and May, between the winter heating and summer cooling seasons, when coal’s market share slumped to just 13.8%—the first time it has ever fallen below 15%.
Despite hotter summer temperatures and increased power demand to run air conditioning in some parts of the country this summer, the use of coal has fallen. This is a result of lower prices for gas—coal’s primary fossil-fuel competitor—and a surge in utility-scale solar generation, which was up 20% in July from July 2022, and up 23% in August from a year ago.
The EIA’s current outlook suggests even more deterioration for coal power in the coming months. The energy agency not only sees coal’s November market share returning to the record-low market share in the spring, but also dropping even more in 2024, to as low as 10 to 13% in both the spring and fall.
The decision by plant owners to scale back their use of coal can be seen in at least two measures. First, power generation at coal plants has fallen every single month in 2023 compared to the same months in 2022, both at those owned by utilities and those owned by independent power producers (IPPs)—and by a lot. Through August, utility coal generation has dropped an average of 19.7%. At IPP coal plants, which are more sensitive to competitive pressures, generation has fallen even more—declining an average of 29.7%, a sign that the economics of selling coal-fired power have deteriorated significantly this year.
At the same time, coal stockpiles have surged, to almost 130 million tons in June, and remain high. That’s enough to run coal plants for 113 days, or almost four months, based on the average amount of coal used over the previous year. This measure, called “days of burn,” is more useful than simply looking at the size of the coal piles, since there are fewer coal plants than in the past, and the ones that are still operating are running less. In fact, the amount of coal used each day in the U.S. has fallen from about 2.8 million tons a day in 2008 to roughly 1.1 million tons a day this year—a 62% drop.
It can take a long time to bring such large stockpiles down to levels power producers are more comfortable with—historically around 50 to 60 days’ supply. It took 16 months to lower stockpiles from the May 2020 peak of 120 days of burn, and it took 34 months—almost three years— to lower stockpiles after a May 2016 peak of 105 days of burn. The speed of the drawdown will also be influenced by other factors like warm winter weather, the health of the U.S. economy, and gas prices.
To cut stockpiles, coal-plant owners are likely to turn to a straightforward solution: Buy less coal.
That, of course, would directly affect coal mining in the U.S., and the EIA is already warning that a significant production downturn is coming for the remainder of 2023 and throughout 2024. Overall, coal output could fall to 466 million tons in 2024, a 25 percent decline of 115 million tons from 2023 levels, the EIA says. If that figure holds, it would be the smallest annual U.S. coal production since 1962—but most of the years between 1936 and 1957 also had higher output.
Western producers, which include the nation’s largest mines in the Powder River Basin, could be hardest hit. The EIA is anticipating output in the region to slump 30% next year, or 73 million tons, to just 246 million tons. That would be the region’s lowest production in at least 40 years. Appalachian production doesn’t fare much better. There, the EIA expects production to fall almost 22%, or 29 million tons, to just 132 million tons. For comparison, when coal output in Appalachia peaked in 1990, almost four times as much of the fuel was mined.
After a sharp drop in coal demand in 2020 due to the pandemic, output from U.S. coal producers moderately rebounded and stabilized in 2021. Then, in 2022, coal prices soared after the Russian invasion of Ukraine, which broadly improved the financial health of U.S. coal companies—but provided only a modest improvement in the volume of coal produced, which declined again this year.
That temporary reprieve has ended. Coal companies are now staring at a substantial new downturn driven by an accelerating decline in domestic demand.
Source: IEEFA
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Wednesday, 22 November 23
INDIA: GOVERNMENT PLANS 1.4 BILLION TONNE COAL OUTPUT BY 2027 - LIVEMINT
The Union coal ministry on Monday announced plans to increase India’s coal production to 1.404 billion tonne by 2027, with an eye to further ...
Wednesday, 22 November 23
OBLIGATION. INDONESIA AIMS TO START COLLECTING LEVIES FROM COAL MINERS IN JANUARY - REUTERS
Indonesia plans to start collecting levies from coal miners in January to be used to compensate miners who sell coal to the state utility at lower ...
Tuesday, 21 November 23
INDIAN COAL POWER PLANTS’ CAPACITY UTILISATION WILL IMPROVE TO 65% THIS FISCAL: - CRISIL
Coal-based thermal power units’ plant load factor (PLF) or capacity utilisation will improve to 65 percent in the current fiscal year despite ...
Tuesday, 14 November 23
CAPITAL PRODUCT PARTNERS L.P. ANNOUNCES TRANSFORMATIVE TRANSACTION INCLUDING THE ACQUISITION OF 11 NEWBUILD LNG CARRIERS FOR $3.1 BILLION
Capital Product Partners L.P. announced that it has entered into an umbrella agreement (the “Umbrella Agreement”) with Capital Maritime ...
Tuesday, 14 November 23
COAL INDIA BEATS Q2 PROFIT VIEW ON HIGH POWER DEMAND AMID WEAK MONSOON - REUTERS
Coal India on Friday reported better-than-expected second-quarter profit, helped by high power demand and boosted production amid a weak monsoon.
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- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- White Energy Company Limited
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- ASAPP Information Group - India
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