2019-12-04 12:10:00
U.S. COAL EXPORTS DOWN
PLATTS - US thermal coal exports continue to slow this year due to significant competition from rival Russian and Colombian output, S&P Global Platts Analytics said Monday.
"Central Appalachian and Northern Appalachian exports remain out of the money for shipment to Europe and Illinois Basin coal has significant price competition from Russian and Colombian coals, driving the drop in US exports," according to Platts Analytics.
A market source told S&P Global Platts on Monday a trade was done for 38,000 mt of IB coal sailing out of the US Gulf Coast to Morocco.
Although uncertain of the exact price of the cargo, "it was ... cheap," he said, since the cargo had to have been priced under Russian material as the seller likely needed to liquidate inventory by the end of the calendar year. The source added that it was "not a single bloodbath, but spread out for all" with multiple parties included.
"We do not believe that even the lowest cost producers from the IB, NAPP and CAPP can ship into Europe with an acceptable cash margin," Platts Analytics report said, with the analysts adding that they expect a significant fall in US thermal coal exports in 2020 to about 31 million mt.
In September, Platts Analytics noted exports fell 2 million mt year on year to 2.6 million mt "as lower Atlantic Basin prices weighed on volumes."
And on Monday, Platts Analytics reduced its CIF ARA price outlook to $58.50/mt for 2020 "on the back of a downward revision to our TTF gas price forecast for 2020."
"We believe the low seaborne price forecast will see Atlantic Basin producers reduce exports to Europe and seek price-opportunistic exports to the Pacific Basin in [the second half of 2020], after the impact of higher freight rates in [the front half of 2020] begin to be absorbed by the market," the analysts added.
In the first nine months of 2019, US thermal exports were more than 10 million mt below the year-ago period's total, and vessel tracking data show October exports are expected to come in close to September levels.
Platts Analytics maintained its 39 million mt forecast for 2019 thermal coal exports, compared with about 49 million mt last year.
-----
Earlier:
2019, November, 27, 11:45:00
U.S. COAL GENERATION DOWN
US coal-fired power generation totaled 85.9 TWh in September, down 8.8% from August,
2019, November, 27, 11:40:00
COAL GENERATION DOWN
In the past three and a half decades, the analysis noted, only two other years had declines in coal generation - 2009 with a 148 TWh drop and 2015 with a 217 TWH drop.
Chronicle:
2021, September, 17, 11:47:00
ENERGY TRANSITION TO CARBON NEUTRALITY AS A FACTOR OF UNPRECEDENTED ACCELERATION OF GLOBAL WARMING
The article reveals the reasons for the unprecedented acceleration of global warming, which was reported by the IPCC in the report "Climate Change 2021", offers proposals for their elimination, as well as for eliminating their consequences.
2021, September, 17, 11:45:00
NO NUCLEAR FOR SPAIN
Under Spain's nuclear phase-out policy, its nuclear fleet is scheduled to shut down by 2035.
2021, September, 17, 11:40:00
WIND ENERGY FOE CHILE 980 MW
The US$700m project, which is expected to generate 2 TWh/year, will include 140 turbines with a maximum power of 7 MW.
2021, September, 17, 11:35:00
U.S. OIL INVENTORIES DOWN BY 6.4 MB TO 417.4 MB
U.S. commercial crude oil inventories decreased by 6.4 million barrels from the previous week to 417.4 million barrels.
2021, September, 16, 14:00:00
OIL PRICE: ABOVE $75
Brent was up 11 cents, or 0.2%, to $75.57 a barrel, WTI was up 11 cents, or 0.2%, to $75.57 a barrel.
2021, September, 16, 13:50:00
EUROPEAN CLIMATE ADAPTATION
Adaptation measures include flood prevention measures and renovating buildings to make them more resilient to extreme temperature. The changes required vary across the continent, but recent events have shown that climate change poses a threat to Europe’s cities.
2021, September, 16, 13:45:00
GAS IS A KEY
Despite adaptations of new fuels and technologies to help achieve the net-zero goal, natural gas will continue to play a vital function for the foreseeable future.