Logo
Registered Members Login:
   
Forgotten Your Details? Click Here To Recover +
Welcome to ShareScene - Talk Shares And Take Stock With Australia's Sharemarket Community - New Here? Click To Register >

Important Notice For All Members - ShareScene Is Moving

9 Pages (Click to Jump) V   1 2 3 4 > »    
 
  
Reply to this topic

Coal, Discussion
blacksheep
post Posted: Dec 5 2018, 02:35 PM
  Quote Post


Posts: 5,115
Thanks: 2044


Interesting read - Ivan Glasenberg places a dirty $36B bet: Chris Bryant

QUOTE
With international delegates meeting in Poland this week to debate the unfolding planetary climate emergency, it’s tempting to view the market’s thumbs down on coal as ethical. Glencore talks a lot about the copper and cobalt it will supply for electric vehicles, but it’s made a huge bet on carbon. Some sustainability-minded investors won’t touch Glencore's shares for this reason, but that’s probably not why the coal business has been marked down. Rather, investors worry that high thermal coal prices aren’t sustainable. It’s possible they’re wrong about that. Glasenberg certainly thinks so.

Corporate boards and banks are increasingly unwilling to sanction or finance new coal mines, meaning there’s a dearth of new supply. That’s a huge advantage for miners that refuse to quit the coal game. In particular, Glencore profits from the premium that utilities pay for higher grade coals. With India and China constructing lots of new coal capacity, demand isn’t about to fall off a cliff either, whatever climate campaigners hope.

In the long run, high prices may end up dooming coal, as my colleague David Fickling has argued. But Glencore’s coal business should be a license to print money for several more years. If Glasenberg is right, his shareholders will be swimming in cash, even as our oceans creep higher.

http://www.mining.com/web/ivan-glasenberg-...t-chris-bryant/



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Nov 17 2018, 01:44 PM
  Quote Post


Posts: 5,115
Thanks: 2044


In Reply To: blacksheep's post @ Sep 27 2018, 01:47 PM

Coal price drops one third as China shuts door on Australian imports until 2019
By Mike Pritchard
Posted yesterday at 16:09

QUOTE
China's power plants have big stockpiles of coal and have shut the door on imports till next year. (ABC News: Brant Cumming)
China has shut the door on coal imports until at least next year, creating uncertainty in the Australian market, according to one industry analyst.

Limits to imports were initially put in place in the middle of this year but now Chinese authorities have stopped all imports of coal from across the globe and the ban is not expected to be lifted until early 2019.

Mike Cooper from Platts Coal Report said there was an oversupply of coal in China.

He said unless there was a very cold winter, further imports would not be needed for the next couple of months at least.

"China has produced so much coal for the winter period the power companies have 30 days worth of consumption on their stockpiles," he said.

"It's really creating tidal waves of uncertainty in the market."

Thermal coal prices for delivery to China have dropped significantly as a result, falling from $90/tonne in February to $60/tonne.

China takes about 25 per cent of Australia's thermal coal from the Newcastle port and Mr Cooper said finding a home for that coal would be difficult

The current situation is at odds with a report released earlier this week the International Energy Agency (IEA).

Its World Energy Outlook (WEO) forecast strong growth in Asian demand through to 2040 with substantial growth in India and South-East Asia expected to counteract projected falls in China and Japan.

At the beginning of the month, the NSW Minerals Council released a statement saying prices were steady at around $114/tonne compared to around $49/ tonne in January 2016.

According to the Council demand for New South Wales coal is particularly strong from traditional Asian markets such as Japan, Taiwan, and Korea.

However, Mr Cooper said prices for Japanese grade coal dropped recently from $125/tonne to $100/tonne.

https://www.abc.net.au/news/rural/2018-11-1...mports/10504276



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Sep 27 2018, 01:47 PM
  Quote Post


Posts: 5,115
Thanks: 2044


China restricts coal imports to boost local miners
extract
QUOTE
Shanghai/Melbourne | China has introduced unofficial restrictions on coal imports in a bid to prop up domestic prices by slowing down customs approvals at key ports, in a move that threatens to disrupt a year of stronger-than-expected Chinese demand for Australian thermal coal.

https://www.afr.com/business/mining/coal/ch...20180925-h15vh0



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Sep 25 2018, 03:59 PM
  Quote Post


Posts: 5,115
Thanks: 2044


According to Michael West -
QUOTE
Global bank Standard Chartered: “We will not directly finance any new coal-fired power plant projects, including expansions, in any location.”




--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Sep 23 2018, 11:17 PM
  Quote Post


Posts: 5,115
Thanks: 2044


In Reply To: blacksheep's post @ Sep 20 2018, 09:46 PM

AFR article have a bit more info on the Marubeni Corporation plans mentioned in a previous post
Major Japanese banks, traders tighten coal policy
extract
QUOTE
Mr Buckley said there was little doubt that demand for thermal coal would rise in such nations in the near term, but he predicted thermal coal would be largely phased out of the energy system within 40 years.

"Whether we like it or not, coal is going to be a core part of the world energy market for decades to come, what I want is an orderly transition and that is what Marubeni is now talking about, so to me it is a really important message," he said.

Mr Buckley said the recent strength in coal prices and the resultant surge in royalty revenue was buying Australia time to develop a transition plan for when nations like Japan stop buying coal.

"This is not a call to end coal tomorrow. Let's have a plan so we can make sure the communities in the Hunter Valley aren't decimated in the way the communities of Wyoming, Kentucky and the coal communities in Wales have been decimated," he said.

https://www.afr.com/business/mining/major-j...20180921-h15ob9



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
nipper
post Posted: Sep 23 2018, 10:28 PM
  Quote Post


Posts: 5,053
Thanks: 1880


QUOTE
"...data centres account fort almost 4 per cent of Australia’s total energy consumption, and 10 per cent of the world’s energy consumption,” Schneider Electric’s Pacific region president Gareth O’Reilly told Fairfax Media during the event.

QUOTE
major blockchain company, the IOT Group, recently signed a deal with Hunter Energy to turn the closed Redbank power station back on and build a data centre inside it.

https://www.smh.com.au/business/the-economy...922-p505df.html



--------------------
"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 


blacksheep
post Posted: Sep 23 2018, 10:10 PM
  Quote Post


Posts: 5,115
Thanks: 2044


In Reply To: blacksheep's post @ Sep 20 2018, 09:46 PM

Another company in the USA planning to exit their ageing coal fired power stations and replace that lost capacity with renewables - becoming a pattern around the world

Nipsco calls shutting down all its coal capacity its 'most viable option'
Author
Mark Watson

QUOTE
Electric Power
Houston — Northern Indiana Public Service Company says retiring most of its coal-fired generation by the end of 2023 and the remainder by 2028 would be the "most viable option for customers," which market observers say Nipsco is likely to pursue.


QUOTE
RENEWABLE, STORAGE ALTERNATIVES
Nipsco's latest analysis, based on responses to a request for power supply proposals issued in April, indicate that a combination of wind, solar and battery storage would likely replace most of that lost capacity.

"Technology and market changes continue to transform the energy industry, opening more competitive options and it's the primary driver of the changes being considered for our system," said Violet Sistovaris, NiSource executive vice president and Nipsco president, in a media release. "Retiring our aging coal fleet sooner will cost substantially less compared to our original plans for extending retirements over a longer duration."

Many Midwest operators of coal-fired facilities face flat or falling power prices, due to flat natural gas prices and an increasing supply of renewables, while coal plants face steady or increased operating costs, said Mark Repsher, PA Consulting energy market expert.

https://www.spglobal.com/platts/en/market-i...t-viable-option



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Sep 20 2018, 09:46 PM
  Quote Post


Posts: 5,115
Thanks: 2044


PR from Marubeni - big blow for coal, good news for renewables.

QUOTE
QUOTE
Notification Regarding Business Policies Pertaining to Sustainability (In Relation to Coal-Fired Power Generation Business and Renewable Energy Generation Business)

Sep. 18. 2018
Marubeni Corporation

Marubeni Corporation (hereinafter, “Marubeni”) recognizes that climate change is a major issue shared by all of humanity. It is a problem that threatens the co-existence of the global environment and society, a problem that has an enormous effect on Marubeni’s business and its shareholders, and a problem that Marubeni believes must be dealt with swiftly. Therefore, as part of Marubeni’s promotion of sustainable management, and in order to contribute fight global climate change, Marubeni has established new business policies (hereinafter, “Policies”) regarding its coal-fired power generation business and its renewable energy generation business.

1. The Process of Pulling Out of Coal-Fired Power Generation
As a global player in the power business, Marubeni will reduce its greenhouse gas emissions volume from its power generation portfolio. By 2030, Marubeni will cut its FY2018 coal-fired power net generation capacity of approximately 3GW in half. Additionally, Marubeni will deploy innovative technologies to increase the efficiency of its portfolio assets, and proactively promote the reduction of its environmental impact.

2. The Policy on New Coal-Fired Power Generation Business
As a general principle, Marubeni will no longer enter into any new coal-fired power generation business. However, Marubeni might consider pursuing projects that adopt BAT (“Best Available Technology”, which at present is USC: “Ultra-supercritical steam generating technology) and are compliant with the policies and measures of the Japanese government and any country in which the project will be executed (e.g. energy supply stability, poverty and employment measures and economic growth policies). Nevertheless, even if Marubeni does make an exception to take on a project like this, Marubeni will make proposals on the creation of a low-carbon society, efficient power generation systems and the diversification of energy sources; Marubeni will make efforts to contribute to the resolution of local issues in the country and/or region in which the project is executed.

3. Proactive Involvement in Renewable Energy Generation Business
Looking forward to the expansion of the renewable energy generation business, Marubeni will strive to expand the ratio of power generated by renewable energy sources in its own net power supply from approximately 10% to approximately 20% by 2023. Furthermore, Marubeni will contribute to the transition towards a low-carbon society by promoting the expansion of the handled volume of renewable energy sources pertaining to energy trading. An example of this is SmartestEnergy Ltd.*, a wholly-owned subsidiary located in the United Kingdom that manages approximately 3GW of total energy, which is purchased from independent generators; about 80% of that 3GW is generated by renewable energy sources.


Moving toward the achievement of these Policies, Marubeni will work to properly communicate and cooperate with its diverse stakeholders, and also proactively disclose updates on Marubeni’s progress in reaching these goals. Additionally, given the changes to the external environment, Marubeni will refer to the various international guidelines, beginning with the OECD Export Credits Arrangement, diligently monitor measures taken by different countries in terms of coal-fired and renewable energy generation business, as well as the international state of affairs, and use this information to periodically review and rework its own policies from the standpoint of climate change counter measures.

In April 2018, Marubeni launched the Sustainability Management Committee (hereinafter, “the Committee”) under the supervision of the President and CEO, with the aim to strengthen the company’s sustainability initiatives. Since its launch, and while soliciting the opinions of external parties, the Committee has discussed a number of basic policies and measures pertaining to Marubeni’s sustainability initiatives, beginning with identification and periodic review of the materiality. Policies and measures considered as a result of these discussions will be announced as part of Marubeni’s ESG related data once it has been compiled.


https://www.marubeni.com/en/news/2018/release/00028.html

QUOTE
Analyst Tim Buckley from the Institute for Energy Economics and Financial Analysis (IEEFA) described the move as a “body-blow” to the global coal lobby and a vital endorsement of the Paris climate agreement.

As one of the largest new coal fired power plant developers globally, this announcement by Marubeni (assuming it is true), is of global significance.

“Like the halving of renewable energy tariffs in India in 2017, the news that Marubeni Corp is shifting its global weight behind the transition to renewables is a body-blow to the global coal industry and a profoundly important endorsement of the aims of the Paris Climate Agreement.

“IEEFA congratulates President Fumiya Kokubu for this truly amazing strategic shift. It is inevitable that other global coal plant developers like POSCO of South Korea, Siemens of Germany and GE of America will be forced to evaluate their own position in light of Marubeni’s decision.”

As per IEEFA’s July 2018 report, Marubeni Corp has over 12GW of new coal fired power plants under development globally, covering both Japan and emerging new coal frontiers like Botswana, Egypt, Mongolia, Vietnam, Thailand, Indonesia and Myanmar.

https://www.michaelwest.com.au/marubenis-sh...exit-from-coal/

Maybe Marubeni took notice of this report - Marubeni’s Coal Problem - http://ieefa.org/wp-content/uploads/2018/0...m_July-2018.pdf




--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Aug 15 2018, 11:20 PM
  Quote Post


Posts: 5,115
Thanks: 2044



Vale Mozambique’s debt reaches US$7.9 billion
QUOTE
The debts of mining company Vale Moçambique reached US$7.9 billion in the second quarter of this year, the company announced at a press conference yesterday.

Vale Moçambique’s chief financial officer Marcelo Tertuliano said second-quarter debt had increased US$100 million over the first quarter figure.

“Essentially, as a result of rising production costs, our debt now amounts to almost eight billion dollars,” said Tertuliano.

This is the accumulated debt of the Brazilian company, which began operations in Mozambique’s Tete province in 2005, including compensation to local relocated populations and the construction of transport links to the port of Nacala.

Vale’s second quarter revenues were US$350 million, against US$337 million in the first quarter.

The increase in revenues was due to the increase in the volume of coal production at the Tete mine in central Mozambique, which reached 2.6 million tonnes in the second quarter against 2.3 million tonnes in the first quarter.

http://clubofmozambique.com/news/vale-moza...tform=hootsuite



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Jun 19 2018, 03:22 PM
  Quote Post


Posts: 5,115
Thanks: 2044


China's steel, iron ore futures slide amid trade spat with U.S.
QUOTE
MANILA/BEIJING, June 19 (Reuters) - Prices of steel and its raw materials iron ore and [b]coking coal fell sharply in China on Tuesday,[/b] with investor sentiment shaken by an intensifying trade spat between China and the United States.

The selloff in China also hit the stock market, with the key index falling below the key 3,000-mark for the first time in nearly 21 months, as well as other commodities including rubber, as investors returned from a public holiday on Monday.

https://in.reuters.com/article/asia-ironore...s-idINL4N1TL0TH



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
 


9 Pages (Click to Jump) V   1 2 3 4 > » 

Back To Top Of Page
Reply to this topic


You agree through the use of ShareCafe, that you understand and accept the TERMS OF USE.


TERMS OF USE  -  CONTACT ADMIN  -  ADVERTISING