Coal Miner News

Indonesia said on Thursday it would allow 37 vessels loaded with coal to depart, in the strongest sign yet that the world's biggest thermal coal exporter is relaxing its ban on shipments.A senior cabinet minister said in a statement the ban implemented on Jan. 1 had been eased for miners that have met a requirement to sell a portion of their output for local power generation, after the state utility procured enough coal to ensure 15 days of operation."I request that this is supervised closely so this also becomes a moment for us to improve domestic governance…

Indonesia, the world's biggest thermal coal exporter, sent shockwaves through global energy markets this week by suspending exports of the fuel in January due to critically low coal supplies at domestic power plants.WHY DID INDONESIAN AUTHORITIES DECIDE TO ACT?Coal makes up around 60% of Indonesia's energy mix and its energy ministry said by the start of 2022 only 35,000 tonnes of coal had been delivered to state power firm PLN.PLN had secured 13.9 million tonnes by Wednesday but needs another six million tonnes to ensure a 20-day stock level of 20 million tonnes.

Indonesian authorities on Wednesday postponed a meeting with coal miners to discuss a ban on coal exports, as scores of ships moored off the coast due to load remained in limbo.The world's top exporter of thermal coal and China's largest overseas supplier on Saturday announced a ban on exports in January to avoid outages at its own generators.The ban sent thermal coal futures in China surging reflecting concerns it could threaten energy security in some of the world's biggest…

Energy trader Vitol and coal miner Peabody Energy are partnering with start-up Arq to turn coal waste into a low-sulphur oil product that could be an alternative fuel for shippers as new U.N. pollution rules loom, the companies said in a statement.Global oil and shipping companies are looking at any and all options to avoid becoming a casualty of the major market dislocations that the new standards will create when they come into effect in 2020.The U.N. International Maritime Organization (IMO) will ban ships using fuel with a sulphur content higher than 0.5 percent…

Less than a year after the coal industry was declared to be in terminal decline, the fossil fuel has staged its steepest price rally in over half a decade, making it one of the hottest major commodities. Cargo prices for Australian thermal coal from its Newcastle terminal, seen as the Asian benchmark, have soared over 35 percent since mid-June to more than one-year highs of almost $70 a tonne, pushed by surprise increases in Chinese imports. "Chinese regulators have assumed the role that markets traditionally play in bringing oversupplied commodities back to balance…

Indonesia, Malaysia, Philippines ministers to meet in Jakarta as up to 18 Indonesians, Malaysians held captive in Philippines. Indonesia fears piracy on a busy shipping route along its maritime border with the Philippines could hit levels seen in Somalia unless security is tightened, its chief security minister said on Thursday, following a spate of kidnappings. The route lies on major shipping arteries that analysts say carry $40 billion worth of cargo each year. It is taken by fully laden supertankers from the Indian Ocean that cannot use the crowded Malacca Strait. For the first time, concerns over rising maritime attacks by suspected Islamist militants are disrupting coal trade between the Southeast Asian neighbours…

Arch Coal Inc, the second-largest coal miner in the United States, and its domestic subsidiaries filed for Chapter 11 bankruptcy to facilitate a restructuring with a group of lenders that hold more than 50 percent of its debt, the company said. Arch Coal said on Monday it reached an agreement with its lenders that will eliminate more than $4.5 billion in debt from the company's balance sheet. The company said it has sufficient capital to run its operations smoothly throughout the restructuring process, and expects mining operations and customer shipments to continue uninterrupted. Arch Coal is the fourth coal miner, after Walter Energy Inc , Alpha Natural Resources Inc and Patriot Coal, to file for bankruptcy.

India's coal imports are expected to jump 19 percent to a record of about 200 million tonnes this fiscal year, Coal Secretary Anil Swarup told Reuters, as power companies add capacity to meet rising demand even as millions go without electricity. Shipments into the world's third-largest coal importer are, however, likely to slide back to about 160 million tonnes next year starting April 1 as state-run Coal India Ltd and private companies ramp up output, Swarup said on Tuesday. India, which buys most of its coal from Indonesia, Australia and South Africa, is targeting to stop imports of power-generating thermal coal in the next few years though purchases of high-grade steelmaking coal will continue.

A barge carrying construction materials for U.S.-based Drummond Co Inc, Colombia's second biggest coal miner, was shipwrecked at the company's port late last week, the company said on Sunday, causing leakage of some diesel fuel into the sea. Drummond only recently reopened the port in northern Colombia after the government had shut down operations until the miner completed an upgrade to meet new environmental legislation. It missed the January deadline for finishing work. RCN Radio said the vessel was carrying 60 gallons (227 liters) of diesel oil. A Drummond statement confirmed the incident and said the crew was rescued but did not mention the amount of fuel that leaked into the sea.

European physical coal prices were lower on Monday afternoon on sluggish demand and as continuing over-supply weighed on prices. Cargoes for delivery in May to the ports of Amsterdam, Rotterdam and Antwerp (ARA) were valued at around $73.20 a tonne, almost $4 lower than the previous settlement on Friday. ARA coal for June delivery was valued around $75.65 a tonne, slightly below its previous settlement on March 25 of $76.00. "Buying has been patchy of late - there isn't much demand," one coal trader said. The API2 2015 coal futures contract saw bids of $79.65 a tonne, below Friday's settlement price of $79.91. Analysts said the market was eyeing a psychological support level of $80 a tonne but there were no clear drivers which would push prices up.

European physical coal prices for May were slightly higher on Friday afternoon in the first trade since Monday as traders said coal prices had probably reached a floor. Cargos for delivery in May to the ports of Amsterdam, Rotterdam and Antwerp (ARA) were trading at $77.30 a metric ton, up $0.25 from the previous settlement on volume of 50 lots. The API2 2015 coal futures contract was valued at just over $80 a metric ton. European energy prices have dropped to multiyear lows as a result of a mild winter and supply glut but coal might have bottomed out. U.S. coal miner Drummond Inc. resumed exports of coal from Colombia this week after they stopped in January due to environmental legislation.

Reuters - European physical coal prices rose on Monday along with gains in gas, power and crude oil markets across the region, reflecting escalating tensions between Russia and Ukraine. Cargos for delivery in April to the ports of Amsterdam, Rotterdam and Antwerp (ARA) were trading at $74.25 a tonne at 1720 GMT, up $0.25 from the previous settlement. Physical cargos for May delivery jumped $0.60 to $74.40 per metric ton. In the futures market, API2 coal contracts for delivery in 2015 edged up $1.49 to $82.10 a metric ton. Commodity prices rose on fears that a standoff between Russia and Ukraine could disrupt the shipment of gas from Europe's biggest supplier.