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S&P Global Market Intelligence ($): Contura Energy Inc. is speeding up the exit of its thermal coal operations to focus on metallurgical coal as the COVID-19 pandemic continues to impact the broader coal sector. The company recorded a second-quarter net loss of $238.3 million, or a loss of $13.02 per share, down year over year […]
S&P ($): Despite drastic cuts in production, U.S. domestic thermal coal markets could continue to face oversupply for the foreseeable future as about a quarter of U.S. coal production is bound for power plants where customers have already set a future retirement date. An S&P Global Market Intelligence analysis showed that nine coal basins across […]
S&P Global Market Intelligence ($): Several power markets have reported a drop in electricity demand of 10% or more due to the stay-at-home orders of the COVID-19 pandemic and the associated economic recession. Furthermore, first quarter 2020 reports show coal usage and employment decreased significantly, and impacts are continuing into the second quarter. S&P Global […]
S&P Global Market Intelligence ($): The U.S. Energy Information Administration further lowered its coal production forecasts for 2020, predicting a 25% drop in domestic coal production from 2019 levels in its most recent “Short-Term Energy Outlook.” As the coronavirus pandemic battered electricity demand and brought construction sites and manufacturing plants around the world to a […]
S&P Global Market Intelligence ($): Total U.S. coal production for the week ended April 18 decreased 41.5% year over year to 8.6 million tons from 14.7 million tons, according to data from the U.S. Energy Information Administration. For the 52 weeks ended April 18, production was 658.7 million tons, representing a year-over-year decline of 11.9%, […]
S&P Global Market Intelligence ($): Total U.S. coal production for the week ended April 11 tightened 35.1% year over year to 9.3 million tons from 14.4 million tons, according to data from the U.S. Energy Information Administration. For the 52 weeks ended April 11, production was 664.8 million tons, representing a year-over-year decline of 11.0%, […]
S&P Global Market Intelligence ($): The shoulder season is typically a slow period for coal demand, but the second quarter of this year presents a triple threat of unusually high coal inventories and plunging electricity demand due to the COVID-19 recession along with low natural gas prices. Regional spot markets for natural gas also trended […]
S&P Global Market Intelligence ($): Murray Energy Corp. received no qualified offers competing against an initial stalking horse [pre-auction] bid for substantially all of the company’s assets, according to a court filing. The final deadline for bids on the assets was March 16, but with no qualified bidders, the company canceled a bankruptcy auction scheduled […]
Mining Journal: The annual Coal Report compiled by the US Energy Information Administration has flagged a 20% drop in domestic coal exports in 2019. Steam and metallurgical coal exports fell to 93 million short tons as steam coal exports suffered under the ongoing downturn in global coal demand, dropping 30% year-on-year in 2019, while metallurgical […]
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IEEFA Energy Finance Conference 2020 roundup: Local leadership, global change
Business case for renewables-based economic development grows stronger by the day
The transition to renewable energy is frequently advocated on environmental grounds, but the financial case for moving away from fossil fuels is becoming undeniably clear, according to experts speaking during the final week of IEEFA’s 2020 Energy Finance Conference (July 14-30). The annual meeting of international energy, finance and policy experts, which was offered online […]