Articles Tagged "Coal Market News"

Indian Coal-Fired Plants Running Out of Stock

Reuters reported today that according to India's state run NTPC (NSE:NTPC), six of the country's coal fired power plants could not handle even a small supply disruption due to low coal stocks. NTPC Chairman Arup Roy Choudhury told the news outlet that coming monsoons would make it even more difficult to replenish stocks in the country.

India Puts 2.5 Percent Duty on Coking Coal Imports

The Economic Times reported on Thursday that India will impose a 2.5 percent duty on imports of coking coal, which could lift domestic steel production costs. However, the government also imposed a duty on flat-rolled stainless steel products in an attempt to give an impetus to the stainless steel industry. Coking coal is currently priced at US$120 per tonne, according to the Times.

Coal Use at Highest Level Since 1970

Writing for Oilprice.com, Nick Cunningham pointed out that the amount of coal burned in 2013 was enough to meet 30.1 percent of the world's energy demand, the highest percentage in over 40 years. The author cited statistics from BP's (NYSE:BP) Statistical Review of World Energy.

Obama Administration Reveals New EPA Emissions Rules

The Guardian reported that the Obama Administration unveiled its new EPA rules regarding carbon emissions this week, which will largely affect the coal industry. According to the Guardian, the rule implementations mark the first time a U.S. president has taken measures to regulate carbon emissions from power plants.

Deutsche Bank Refuses to Finance Port Expansion Near Great Barrier Reef

Reuters reported that, following outcry from environmental activists and tourism operators, Deutsche Bank has stated it will not aid in the funding of coal port expansion near Australia's great barrier reef. Port operator North Queensland Bulk Ports Corp defended the expansion plan, but the bank stated at its annual meeting that it at least needed consensus between UNESCO and the Australian government for the project before moving forward with financing, according to Reuters.