‘The Prospects for Coal Exports Are Dimming, but Politics Have Little to Do with it’

first_img FacebookTwitterLinkedInEmailPrint分享Benjamin Storrow for the Casper Star Tribune: Political flaps over coal exports get the headlines. But a deteriorating market poses a greater threat to American mining firms’ dreams of establishing a beachhead in Asia.Exports were widely viewed as a lifeline for the United States’ contracting coal industry as recently as 2014. Some analysts predicted mines in the western U.S. could annually ship up to 200 million tons to Asia, or roughly half of what Wyoming’s mines produced at their peak in 2012.Slowing economic growth, a worldwide glut of coal and high shipping costs have clouded the picture since, leaving Indonesia and Australia better positioned to compete in Asia’s contracting import market.“It doesn’t look as promising as it did in the past,” said Andy Roberts, an international coal analyst at the consulting firm Wood Mackenzie. It was Roberts who made the prediction in 2014 that mines in the western U.S. could ship up to 200 million tons annually.“At one time, PRB (coal) could be sold into Asia for a price 20 times above its cost and still compete with Indonesia,” he said. “In other words, plenty of room to make a profit. Today, to make that same sale you would have to make a sale at 12 times below costs.”Wood Mackenzie no longer assumes a series of coal export terminals proposed in the Pacific Northwest will be built.The shift reflects the sea change in global coal markets. American thermal exports, always a sliver of domestic production, are down 40 percent since their peak in 2012, and the U.S. Energy Information Administration expects them to decline by another 20 percent in 2016.The upheaval in the economic landscape comes as proposed terminals in the Pacific Northwest find themselves facing mounting political hurdles. The U.S. Army Corps. of Engineers last week rejected the Gateway Pacific Terminal in Bellingham, Washington, citing tribal fishing rights. SSA Marine, the project developer, is mulling an appeal.,,,The greatest factor behind the increasingly gloomy outlook for coal exports, though, is China. The world’s second-largest economy has driven global coal demand in recent decades.Chinese annual coal consumption grew at an average rate of 9 percent between between 2003 and 2011, according to the U.S. Energy Information Information Administration. That rate is expected to slow to .3 percent between now and 2040.The slowdown in Chinese coal consumption is due to several factors. Economic growth has slowed and the need for imports along the coast waned. Beijing recently announced plans to halt construction of 200 gigawatts of new coal power, enough to supply Great Britain, in attempts to battle air pollution. And, most important, China’s economy is undergoing structural changes, moving away from energy-intensive heavy industries and toward a consumer-based economy.“There is no basis for the argument that a robust global coal market will exist in the next 10 years, 15 years, 25 years,” said Tom Sanzillo, director of finance at the Institute for Energy Economics and Financial Analysis, a think tank that has argued for a shift from coal.Full article: http://trib.com/business/energy/the-prospects-for-coal-exports-are-dimming-but-politics-have/article_f59da9b2-f454-588c-99dc-315c6fcc2609.html ‘The Prospects for Coal Exports Are Dimming, but Politics Have Little to Do with it’last_img read more

Steven Blackie moves up at Mercer as UK investments head

first_imgMercer said Race decided to step back from business leadership to focus on client work and a small number of new service delivery, risk and governance responsibilities.Before working at Mercer, Blackie was commercial director for Aon Hewitt’s consultancy business in Scotland, and also worked at Edinburgh Fund Managers, as well as Merrill Lynch Investment Managers. Mercer has appointed Edinburgh-based Steven Blackie as its UK head of investments.He will succeed Patrick Race, who held the position for more than four years.In his new job as UK head of investments, Blackie will focus on developing Mercer’s advisory and delegated services, as well as growing “innovative offerings for the wealth management and insurance market segments,” the company said.Blackie has been commercial director for Mercer’s UK investments business up until this appointment, having first joined the consultancy back in 2009 as head of the Edinburgh investment team.last_img read more

Veterans Aguilleira, Mohammedaxed for Ireland, England tour

first_imgST JOHN’S, Antigua (CMC) – Veterans Merissa Aguilleira and Anisa Mohammed have been axed for West Indies women’s tour of Ireland and England next month.Neither was included in the 14-member squad announced by Cricket West Indies (CWI) yesterday, which will be led by regular captain Stafanie Taylor.The Trinidadian pair have been perennial fixtures in the regional side having both played over 100 One-Day Internationals but have found their playing opportunities reduced in recent series, with the emergence of younger players.Further, their form in the recent West Indies women’s Championship did little to enhance their claims, and newly-installed interim chairman of selectors, Robert Haynes, said this had also weighed against them.“Anisa Mohammed and Merissa Aguilleira’s performances in the recent women’s championships weren’t what we expected or how we wanted them to perform, so unfortunately they were not picked on this touring squad,” Haynes said.“There are other ladies who are vying for these coveted spots. We have three other wicketkeepers who have all been scoring consistently thereby outperforming Merissa.”He continued: “In terms of Anisa, we have Hayley who’s back and the captain Stafanie who can both bowl off-spin and have been performing consistently well. So overall we have a very unique and balanced team which reflects what we saw in Guyana during the Women’s Championships.”Aguilleira, 33, is a former captain, but failed to get a single game during last November’s T20 World Cup in the Caribbean. However, she subsequently led the T20 side on the tour of Pakistan earlier this year when Taylor opted out, managing 20 runs from two innings.In the recent domestic 50-overs competition, Aguilleira could muster only 54 runs from five innings for Trinidad and Tobago, and a further 40 runs from three outings in the T20 phase.The 30-year-old Mohammed, who has also played over 100 matches in the shortest format, claimed nine wickets from five matches in the 50-overs competition and five from as many games in the T20 format.In acknowledging the pair’s contribution, Haynes said their omission was not the end of their careers.“Merissa and Anisa have given a lot to West Indies Cricket and I’m sure based on improved performances we can see them back in the West Indies Women’s team in future series.”Selectors have, meanwhile, recalled experienced batsman Stacy-Ann King following a three-year absence. The Trinidadian last turned out for West Indies on England’s tour of the Caribbean in 2016 but scored consistently in the domestic tournament to force herself back into contention.She averaged 40 in the one-dayers and 45 in T20s and Haynes said he expected her experience and all-round ability to be crucial on the upcoming tour.“Stacy Ann King’s return to the West Indies Women’s team to tour Ireland and England is no real surprise after her performance during the recently concluded Colonial Medical Insurance Women’s Super50 Cup and CWI’s T20 Blaze tournaments,” he explained.“Her experience is very vital in this very crucial series against England, a series that we must win, so her ability to bowl good left arm swing will be an added dimension to our bowling attack.”Opener and vice-captain Hayley Matthews has also returned after missing the recent Pakistan series through injury.West Indies women will take on Ireland in a three-match Twenty20 series May 26-29 before clashing with England in a tour comprising three One-Day Internationals and three T20s, June 6-25.The squad will gather for a training camp here from May 6 to 20 before departing the Caribbean on May 21.SQUAD – Stafanie Taylor (captain), Hayley Matthews (vice-captain), Deandra Dottin, Afy Fletcher, Karishma Ramharack, Chedean Nation, Chinelle Henry, Kycia Knight, Kyshona Knight, Shakera Selman, Shamilia Connell, Shemaine Campbelle, Natasha McLean, Stacy Ann King.last_img read more