April-May maintenance to close Australian coal systems

: Coal, Coking coal, Freight
24/04/10

Australian rail firm Aurizon will close the 50mn t/yr Blackwater coal system in Queensland over 13-17 April for maintenance, with further closures scheduled for May.

The firm, which operates the Central Queensland Coal Network (CQCN), confirmed that it plans to close its 60mn t/yr Goonyella system during 1-3 May, its 15mn t/yr Moura system for 14-16 May and Blackwater again during 27-29 May, as part of an annual planned maintenance programme. The only CQCN system not included in the maintenance programme is the 15mn t/yr Newlands system.

Blackwater and Moura deliver coal to the port of Gladstone from the southern end of the Bowen basin. Goonyella delivers to the adjacent ports of Dalrymple Bay Coal Terminal, which is a multi-user facility, and BHP-operated Hay Point from the central Bowen basin. Newlands delivers to Abbot Point from the northern Bowen basin.

Aurizon, Pacific National, BHP and some smaller coal haulage operators use the CQCN.

Aurizon is targeting a 5pc year-on-year growth in coal haulage by its fleet across the CQCN and New South Wales/southern Queensland in the 2023-24 fiscal year to 30 June. This implies a target of 194mn t for 2023-24. It hauled 94mn t during July-December, leaving it a target of 100mn t for January-June.

By Jo Clarke

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24/11/14

Cop: ADB, Kazakhstan tie up on early coal retirement

Singapore, 14 November (Argus) — The Asian Development Bank (ADB) and Kazakhstan signed an agreement at the UN Cop 29 summit in Baku, Azerbaijan on 13 November to collaborate on the possible early retirement of a coal plant in Kazakhstan. The ADB and Kazakhstan's Ministry of Energy signed the agreement to work on a pilot transaction to reduce the country's greenhouse gas (GHG) emissions, possibly through decommissioning or repurposing a pilot coal plant for renewables or other low-carbon energy technologies. The partners will conduct a feasibility study to identify which plant among a selection of coal-fired power generation, combined heat and power plants, and heat-only boilers could be viable for early retirement. The parties also agreed to analyse the impact that the early decommissioning of the plant could have on Kazakhstan's power and heat supply, and will work together on developing the country's renewable energy generation capacity, and promote regional energy trade. The agreement comes under the ADB's Energy Transition Mechanism, which aims to support the shift away from coal-fired power plants. Kazakhstan is estimated to be the eighth-largest consumer of coal worldwide, with some 25bn t of reserves, said the ADB. About 70pc of the country's electricity is produced from coal, according to the IEA. The country earlier this year projected that it will use 8.6mn t of thermal coal for its heating season this year. State-run Kazakh Invest announced in October that Chinese companies plan to invest billions of dollars in Kazakhstan's coal sector, including the construction of a power plant, even as the country plans to develop new gas fields with a total production capacity of 1bn m³/yr, to switch away from coal for power generation and domestic consumption. By Prethika Nair Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

US inflation rises in October to 2.6pc

24/11/13

US inflation rises in October to 2.6pc

Houston, 13 November (Argus) — US inflation ticked higher in October, led by monthly gains in shelter, a reminder that the last lap in the Federal Reserve's marathon to bring inflation to its long-term target remains a challenge. The consumer price index (CPI) accelerated to an annual 2.6pc in October, in line with analysts' forecasts in a survey by Trading Economics, from 2.4pc in September, which was the lowest since February 2021, the Labor Department reported today. Core inflation, which strips out volatile food and energy prices, rose at a 3.3pc rate, unchanged on the month. The energy index contracted by 4.9pc over the 12 months, slowing from a decline of 6.8pc through September. The gasoline index fell by 12.2pc, slowing from a 15.3pc decrease the prior month. The fuel oil index fell by 20.8pc. Federal Reserve policymakers last week cut the target rate by a quarter point, following a half-point cut in September that kicked off an easing cycle from then-23-year highs. Inflation has slowed to near the Fed's 2pc target from highs above 9pc in mid-2022 that proved to be a major impetus behind president-elect Donald Trump's victory at the ballot box on 5 November. The CME's FedWatch tool today gives near-80pc odds of another quarter-point cut in December. "The economy can develop in a way that would cause us to go faster or slower" in adjusting rates lower, Fed chair Jerome Powell told reporters last week after the Fed decision. The food index rose by an annual 2.1pc, slowing from a 2.3pc gain through September. Shelter rose by an annual 4.9pc, unchanged. Transportation services rose by 8.2pc. New vehicles fell by 1.3pc while used vehicle prices fell by 3.4pc. Services less energy services, viewed as core services, rose by 4.8pc. On a monthly basis, CPI rose by 0.2pc in October, a fourth month of such gains after falling by 0.1pc in June. Core inflation rose by 0.3pc for a third month. Shelter accelerated to a 0.4pc monthly gain, accounting for over half of the monthly all-items increase, after a 0.2pc gain. Energy was unchanged in October after falling by 1.9pc in September from the prior month. Food rose by 0.2pc on the month, following a 0.4pc gain. By Bob Willis Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

Cop: Coal exit needs new financing, flexibility: Report

24/11/12

Cop: Coal exit needs new financing, flexibility: Report

London, 12 November (Argus) — A successful transition from coal will require new financing mechanisms and flexible repurposing, according to a Coal Transition Commission report published today. Coal consumption is concentrated in emerging market and developing economies (EMDEs), which face different challenges than advanced economies — predominantly strong economic dependence on coal and a substantially younger coal-fired fleet, the report highlighted. Countries with the highest level of difficulty for this transition are Indonesia, Mongolia, China, Vietnam, India and South Africa, the commission noted. The report proposes two major options to reduce emissions from coal-fired units — early retirement and repurposing for flexible usage and retrofitting for the integration of renewable sources. Examples include flexible retrofits to ramp up or down more frequently in a supplementary role to renewable energies, co-firing with lower emission fuels such as biomass and ammonia, or equipping plants with carbon capture, utilisation and storage (CCUS). Financial feasibility Existing scale of financing is insufficient to meet coal power emissions cut targets, requiring new mechanisms for public and private investments that allow for the costs to be covered with reasonable returns, the commission said. The report calls for a regulatory approval to classify investments that reduce emissions from existing coal-fired plants to be considered "transition finance" as financing even for technologies to lower emissions has been difficult to source. For instance, South Africa has faced difficulty obtaining funds from the Just Energy Transition Partnership (JETP) owing to the lack of investible projects . In addition, many southeast Asian plants, particularly in Indonesia and Vietnam, are new and are still subject to unpaid debt . Transition financing for retrofits and flexibility would allow EMDEs to continue using their relatively new fleet while lowering emissions, limiting the financial loss, the report suggested. That said, the bulk of coal-fired units will need to be retired early to stay within the established 1.5°C global temperature rise threshold, but they need financial feasibility for prompt coal exit, the report pointed out. For example, early coal plant retirements were facilitated by private investment in the Philippines and US where the remaining costs of the plants were securitised with lower interest rates. Likewise, Singapore has piloted a transition credit as a mechanism to reduce the economic gap in the early retirements of plants. Coal remains the largest source of electricity worldwide, accounting for 36pc of global generation and 40pc of all energy sector emissions, according to the Paris-based International Energy Agency. By Bonnie Lao Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

Lower Mississippi draft restrictions lifted

24/11/11

Lower Mississippi draft restrictions lifted

Houston, 11 November (Argus) — The US Coast Guard (USGC) removed draught restrictions from the lower Mississippi River on 8 November, after several rain washed across much of the Midwestern US. Draft restrictions were completely lifted for north and southbound barges on the lower Mississippi River between Tiptonville, Tennessee, to Tunica, Louisiana. Approximately 2-8 inches of rain were reported in Illinois and Missouri in the last seven days, adding around 14 inches to the lower Mississippi River, according to the National Weather Service (NWS). St Louis, Missiouri was at a high of 11.5 inches above baseline on 11 November, up from a low of -1.5ft on 1 November. The USGC has had draft restrictions in place since August, with the river system receiving a short reprieve in early October after rain from Hurricane Helene poured into the US river system. But low water levels and restrictions returned about two weeks later. Prior to recent precipitation, drafts were restricted to 10-10.5ft for southbound barges and tows could not not be greater than 6-7 barges wide. Northbound barges could not draft greater than 9.5ft, tows could not be more than six barges wide, and only four barges could be loaded. High water levels are expected to remain through November, according to NWS but barge carriers have said that water levels will slip quickly if no additional rain falls along the upper Mississippi River. By Meghan Yoyotte Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

Peru bets on trade ties with Asia as Apec starts

24/11/11

Peru bets on trade ties with Asia as Apec starts

Lima, 11 November (Argus) — Heads of 16 countries are in Peru this week to kick off the Asia-Pacific Economic Cooperation's (Apec) annual Leaders Week, as government officials in Lima look to grow their partnerships with Asia while staving off potentially disruptive strikes. The summit comes at a fragile time for Peru, where President Dina Boluarte has a historically low presidential approval rate of 4pc and bus drivers and small business owners are demanding protections from a wave of extortion. The event begins today with meetings among senior officials of the 21 member countries and closes on 16 November with the leaders' meetings, the pinnacle Apec event. With the confirmed arrival of Chinese president Xi Jinping later this week, the summit is likely to strengthen ties between Peru and Asia, amid US concerns of China's growing influence in Latin America. US president Joe Biden is also expected to travel to Lima from 14-16 November, according to the White House. He is then slated to go to Manaus and Rio de Janeiro to meet with Brazilian president Luiz Inacio Lula Da Silva. This week is also the scheduled ribbon-cutting of the Chancay megaport, a $1.3bn commercial hub north of Lima that will cut the transport time between Latin America and Asia from 35 days to 25 days. Cosco Shipping, the Chinese state-owned port operating company, owns 60pc of the project and the rest is owned by Peru mining company Volcan. It aims to become the main commercial port in the Pacific for neighboring Brazil and has a 17.8-meter depth, the greatest in Latin America. While the port will be inaugurated on 14 November, Cosco Shipping has said operations are expected to begin in early 2025. Peru's priorities for Apec include trade investments and the energy transition, with a focus on its critical mining sector — and workers' transition to the formal economy in Peru, where the informality rate is about 73pc. These goals extend to the CEO Summit, which is running simultaneously and will host hundreds of business leaders from Asia looking to invest in Peru's energy and mining sectors. Angel Manero, Peru's agriculture minister, said last week the government expects to approve sanitary protocols with China to export nuts, with the potential of expanding to meat imports, according to the official gazette. He added there are talks with China about attracting investments through the creation of Special Economic Zones. Peru last hosted the Apec in 2016. This time, workers in Lima — led by bus drivers' unions — have vowed a three-day strike during Apec to call attention to a string of killings they say are linked to resistance to extortion. Among their main asks is repealing a recent law approved by congress that they say weakens prosecution of organized crime by, among other things, changing its definition to exclude crimes of extortion. Prime Minister Gustavo Adrianzén has repeatedly asked workers not to strike to avoid "a bad show" during the high-level meetings. By Bianca Padró Ocasio Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

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