Foul fundamentals will curb world coal

2017 ◽  
Keyword(s):  
Iron Ore ◽  
Trade Flows ◽  
Panama Canal ◽  
Content Type ◽  
Thermal Coal ◽  
Panama Canal Expansion ◽  
Market Outlook ◽  
Coal Market ◽  
Asian Market ◽  
First Time

Subject Coal market outlook Significance Coal prices rallied by more than 70% in 2016 after five years of decline, making it one of the best-performing commodities last year alongside iron ore. In December 2016, the price of Australian thermal coal -- the benchmark for the Asian market -- hit 100 dollars per tonne for the first time since 2012. The price has eased to around 85 dollars, but Chinese demand remains strong -- imports rose by 33% during the first four months of the year, nearly 10% faster than in the corresponding period of 2016. Impacts Coal imports by Pakistan, Turkey and several ASEAN nations will rise to 2021, checking the deceleration of seaborne thermal coal trade. The Panama Canal expansion is allowing Colombia to export more coal to Asia and trade flows should increase as the route gains traction. Mines restarted in Indonesia and Australia at the end of 2016, but these will remain the exception to the longer trend of declining supply.

COP21 will drive global shift away from coal

2016 ◽  
Keyword(s):  
Oil Prices ◽  
Content Type ◽  
Carbon Reduction ◽  
Currency Depreciation ◽  
Thermal Coal ◽  
Market Outlook ◽  
Coal Market ◽  
Cost Of Production ◽  
The Cost

Subject Coal market outlook. Significance Coal producers are under pressure. For many, the price of thermal coal exports is below the cost of production plus transport. Currency depreciation and lower oil prices provide some insulation but leave high-cost US producers, in particular, in financial peril. Impacts Countries dependent on coal-export revenues will face further fiscal shortfalls. Leading exporting countries (such as Russia, Mozambique and Mongolia) will no longer get substantial revenues from coal. New investment will remain scarce as funds eschew the coal industry's low margins and risk of carbon-reduction regulation adding to costs.

Global coal market will stay oversupplied

2015 ◽  
Keyword(s):  
Western Europe ◽  
Underground Mining ◽  
International Energy Agency ◽  
Production Costs ◽  
Medium Term ◽  
Energy Agency ◽  
Content Type ◽  
Thermal Coal ◽  
Market Report ◽  
Coal Market

Subject Prospects for the global coal market. Significance Seaborne thermal coal prices are on a long-term slide. Having peaked above 130 dollars per metric tonne (mt) for thermal coal delivered into north-western Europe in 2011, prices have sunk to 52.8 dollars/mt on September 7, the lowest level since 2009. At these prices, only the lowest-cost producers can remain profitable. In its 'Medium-Term Coal Market Report 2014', the International Energy Agency estimates that production costs for US Central Appalachian (CAPP) producers and Australian underground mining are close to 90 dollars/mt. Impacts Further coal sector bankruptcies and mine closures are likely. Coal will remain competitive with natural gas for power generation in most markets. Medium-term demand response will be limited by a lack of new coal plant construction and environmental regulation.

Panama’s economy is poised for dramatic rebound

2021 ◽  
Keyword(s):  
International Cooperation ◽  
Money Laundering ◽  
Trade Flows ◽  
Import Demand ◽  
Panama Canal ◽  
Economic Recovery ◽  
Global Trade ◽  
Content Type ◽  
Economic Disparity ◽  
Canal Area

Significance Mining and quarrying activities (728%), construction (489%), hotels and restaurants (92%), transport and communications (29.8%) and trade (23.9%) were the main drivers of growth, boosted by an easing of mobility restrictions and stronger global trade flows. Impacts The 'Pandora Papers' investigation will cast further doubt on Panama’s anti-money laundering efforts. Large social and economic disparity between the Panama Canal area and the rest of the country will continue to hinder development. The Darien Gap is increasingly becoming a migration bottleneck which will necessitate international cooperation, especially with Colombia. Service activities related to the expansion of the Panama Canal will support growth in the coming years. Higher import demand boosted by economic recovery will weigh on external accounts this year.

Global coal market will decline in the long term

2016 ◽  
Keyword(s):  
Power Generation ◽  
Carbon Sources ◽  
Total Power ◽  
Low Carbon ◽  
Export Markets ◽  
Content Type ◽  
Thermal Coal ◽  
Coal Market ◽  
Domestic Power

Subject Outlook for global coal markets. Significance Thermal coal prices hit a record of 210 dollars per tonne in July 2008 and have declined since 2011. Last year, prices averaged 57 dollars per tonne and until recently struggled to hold above the 45 threshold. The slide is due to environmental concerns, which are shifting power generation towards low-carbon sources. After several years of 300 million tonnes (mt) yearly growth, global coal demand fell by 63 mt in 2014 and by 180 mt in 2015. Although many mines have been shut, production fell by less than demand. Impacts This year Russia may surpass its 2015 production by 10 mt, all of which will be exported. Australia's compliance with Paris emissions reduction targets may thwart domestic coal projects mulled by China's Shenhua and India's Adani. Having lost its export markets, Indonesia is redirecting its coal production towards the slated increase in domestic power generation. Colombia has entered the Indian market thanks to record-low freight rates; their increase may reduce flows to the subcontinent. Japan targets a 26% reduction in emissions for 2030 by limiting coal use to 26% of total power output.

Gas find will test Mauritania president's two-term vow

2017 ◽  
Keyword(s):  
Power Generation ◽  
Natural Gas ◽  
Iron Ore ◽  
Electricity Demand ◽  
Liquefied Natural Gas ◽  
Small Scale ◽  
Content Type ◽  
International Scale ◽  
Fiscal Revenue ◽  
First Time

Significance The 33,000 square kilometres of acreage includes the Tortue field, which is estimated to contain more than 15 trillion cubic feet (tcf) of gas. The deposit offers both countries the chance to become substantial offshore hydrocarbons exporters for the first time. Impacts The project will transform Mauritania from a small-scale hydrocarbons producer into an exporter on international scale. Liquefied natural gas (LNG) will diversify Mauritania's export and fiscal revenue base -- currently reliant on iron ore, gold and fish. Exports will be the priority, but electricity demand is rising in Mauritania and Senegal; some gas may be used to fuel power generation.

Structural weaknesses hinder the coal price outlook

2016 ◽  
Keyword(s):  
Cold Weather ◽  
Sharp Rise ◽  
Content Type ◽  
Coal Price ◽  
Thermal Coal ◽  
Oil And Natural Gas ◽  
Coal Market ◽  
President Elect ◽  
Hemisphere Winter ◽  
Northern Hemisphere Winter

Subject Coal market Significance After a sustained price decline, coal producers are taking relief from the sharp rise in thermal coal prices this year, with coal outperforming both oil and natural gas. However, looking beyond the boost from US President-elect Donald Trump’s support for US manufacturing, the price spike is largely the result of thermal coal shortages because of Indonesian and Chinese production cuts, which could be quickly reversed. Impacts The price spike since summer 2016 has returned many coal producers to a cash-positive position. Cold weather will increase demand, pushing up prices throughout the northern hemisphere winter. China is likely to take further measures to boost domestic production.

Conference report: innovation, interaction … and a lot of data: first time reflections on Internet Librarian International, UK 2018

2019 ◽  
Vol 36 (2) ◽  
pp. 21-22
Author(s):  
Ray Harper
Keyword(s):  
Best Practice ◽  
New Technologies ◽  
Conference Report ◽  
Library Services ◽  
New Techniques ◽  
Content Type ◽  
Making A Difference ◽  
Analyse Data ◽  
Physical Spaces ◽  
First Time

Purpose The purpose of this paper is to summarise a number of presentations at Day 1 of the Internet Librarian International conference, London, UK (16 October 2018). This was the 20th conference in the series, and the three key themes included were the next-gen library and librarian; understanding users, usage and user experience; and inclusion and inspiration: libraries making a difference. Design/methodology/approach This paper reports from the viewpoint of a first-time attendee of the conference. This summarises the main issues raised by each presentation and draws out the key learning points for practical situations. Findings The conference covered a variety of practical ways in which libraries can use technology to support users and make decisions about services. These include developing interactive physical spaces which include augmented reality; introducing “chat-bots” to support users; using new techniques to analyse data; and piloting new ways to engage users (such as coding clubs). A key theme was how we use and harness data in a way that is ethical, effective and relevant to library services. Originality/value This conference focussed on practical examples of how library and information services across sectors and countries are innovating in a period of huge change. The conference gave delegates numerous useful ideas and examples of best practice and demonstrated the strength of the profession in adapting to new technologies and developments.

Interest rate option hedging portfolios without bank account

2019 ◽  
Vol 37 (1) ◽  
pp. 134-142
Author(s):  
Alberto Bueno-Guerrero
Keyword(s):  
Design Methodology ◽  
Contingent Claim ◽  
Necessary And Sufficient Condition ◽  
Barrier Option ◽  
Bank Account ◽  
Content Type ◽  
Option Hedging ◽  
Hedging Portfolio ◽  
Necessary And Sufficient ◽  
First Time

Purpose This paper aims to study the conditions for the hedging portfolio of any contingent claim on bonds to have no bank account part. Design/methodology/approach Hedging and Malliavin calculus techniques recently developed under a stochastic string framework are applied. Findings A necessary and sufficient condition for the hedging portfolio to have no bank account part is found. This condition is applied to a barrier option, and an example of a contingent claim whose hedging portfolio has a bank account part different from zero is provided. Originality/value To the best of the authors’ knowledge, this is the first time that this issue has been addressed in the literature.

A “Learning from Action” workshop in Japan

2019 ◽  
Vol 40 (2) ◽  
pp. 77-83
Author(s):  
Robert Douglas Hinshelwood ◽  
Luca Mingarelli ◽  
Simona Masnata
Keyword(s):  
Far East ◽  
Opportunity To Learn ◽  
Content Type ◽  
Work Activities ◽  
Defensive Role ◽  
Feedback Data ◽  
Experiential Workshop ◽  
First Time ◽  
Practical Implications

Purpose Many people in severe mentally disturbed states do not use language or other symbolic media well or coherently. Therefore, the non-verbal medium needs to be understood by workers with such people. The “Learning from Action” experiential workshop was developed in order to provide an opportunity to learn about hidden messages in the relationships and roles occurring in activities. In August 2017, a workshop was run for the first time in Japan. The purpose of this paper is to report the experience and dynamics observed by the three consultants, who are here the authors of this paper. Design/methodology/approach After the workshop all the staff and members, including interpreters, were invited to give feedback. Findings Analysis of the feedback data showed certain important dynamics, concerning especially dependence, cultural defences and the defensive role of activity in a multicultural context. Research limitations/implications This is an initial experience to be followed up by later feedback and further workshops. Practical implications Workers awareness of non-verbal communication within the roles of work activities is a training possibility. It faces various resistances including the mental health assumptions of meaninglessness of any communication outside the verbal. Originality/value This is a method of training not widely used even in European countries, and is the first in a country in the far east.

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