BARRONS
RHIANNON HOYLE
The fuel should benefit from the rising price of natural gas, plus China's huge appetite for energy.
Wood Mackenzie expects China to buy 241 million metric tons of thermal coal from the seaborne, or export, market next year, rising to 267 million in 2014. That compares with 224 million tons this year.
Already there's been a slight uptick in the world thermal-coal market. Since the end of October, benchmark prices have risen around 10%. Widely watched thermal coal from South Africa's Richards Bay trades around $88 a ton.-------------------------------------------------------
Whitehaven Coal eyes China deal
Sky News
Whitehaven Coal has held talks with China's largest coal company, Shenhua Group, about a deal that could help it get embattled entrepreneur Nathan Tinkler off its share register.
Whitehaven confirmed on Wednesday that it had spoken to Shenhua, in discussions believed to revolve around the Chinese group selling its NSW Watermark coal assets in exchange for equity, or alternatively acquiring Whitehaven.
Key Words:
Patersons Securities analyst Matthew Trivett
Whitehaven
Tinkler
Shenhua
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Coal May Pass Oil As World's No. 1 Energy Source By 2017, Study Says
NPR
Bill Chappell
Bloomberg
Fitri Wulandari
NPR
Bill Chappell
Despite a slowdown in U.S. consumption, coal is poised to replace oil as the world's top energy source — possibly in the next five years, according to the International Energy Agency. The rise will be driven almost entirely by new energy demands in China and India, the IEA says.
"This report sees that trend continuing. In fact, the world will burn around 1.2 billion more tonnes of coal per year by 2017 compared to today – equivalent to the current coal consumption of Russia and the United States combined," says IEA Executive Director Maria van der Hoeven.
Together, China and India will account for more than 90 percent of the rise in demand for coal over the next five years, according to the IEA.
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Fitri Wulandari
The swap for Indonesian sub-bituminous coal with a calorific value of 4,900 kilocalories a kilogram in the first quarter of 2013 rose 35 cents to $63.55 a metric ton on a net- as-received basis yesterday, Ginga said in an e-mail today. The January contract also climbed 35 cents to $63.55 a ton.
Contracts for coal with a heating value of 5,500 kilocalories a kilogram for shipment to SouthChina in the first quarter remained at $84 a ton on a net-as-received basis, the energy broker said. The swap for January held at $83.65.