33 °C Singapore, SG
April 9, 2024
Latest News
Corio Generation and bp Alternative Energy Investment Ltd invest in South Korea Australia missing climate targets Advocating for US based offshore wind Broken Record, Temperatures hit new highs, yet world fails to cut emissions (again) Toshiba and GE to shore up Japanese offshore wind domestic supply chain How I got here… National University of Singapore green finance academic Sumit Agarwal Multi-billion-dollar renewables project earmarked for Yindjibarndi native title land Smart Energy Finances: Enel divests 50% of Australian renewable operations to Japanese oil and gas giant Critical minerals investments surged by 30% finds IEA Kung Fu nuns fight climate change One of Southeast Asia’s largest energy storage systems comes online Why turning waste into gas will add value to this Indigenous economy Renewable energy records tumble around Australia as rooftop solar power soars Topsoe supports SGP BioEnergy in renewable fuels production in Panama ‘Poor tropical regions’ suffer greatest economic damage from worsening heatwaves UNEP: Meeting global climate goals now requires ‘rapid transformation of societies’ Analysis: Africa’s unreported extreme weather in 2022 and climate change Partly wind-powered coal ship sails into Newcastle New fossil fuels ‘incompatible’ with 1.5C goal, comprehensive analysis finds Australian offshore wind ‘supercharged’ in Victoria as billions pledged to fast-track projects Goldwind turbine ‘breaks world record for largest rotor diameter’, Chinese media reports BW Ideol to work with developer Taiya on Taiwan floating wind pilot US to boost floating wind power Wind Power in South Korea – an overview GS E&C to develop bioethanol using cassava waste Korean business group has asked the US to make exceptions for Korean EV’s in Inflation Reduction Act Equinor’s Australian offshore wind debut Global energy transition stalls – 2022 Global Status Report in pictures India’s ReNew Power secures $1bn loan for gigascale 24/7 wind-solar-battery project POSCO International to merge with POSCO Energy

S&P: Market capitalization of top U.S. coal companies has fallen 59% in 2019

S&P Global Market Intelligence ($):

The market capitalization of five of the top 10 U.S. coal companies was sliced by more than half from early January to mid-November 2019.

Those top 10 producers’ market value totaled about $4.42 billion as of Nov. 22, a 59.4% drop from $10.88 billion as of Jan. 8, according to data compiled by S&P Global Market Intelligence. The group of companies saw double-digit percentage declines in market capitalization from Jan. 8 to Nov. 22 as domestic demand waned and the seaborne market weakened. Rhino Resource Partners LP, which rounded out the top 10 as of Nov. 22, saw the smallest percentage decline between the periods, with its value falling 18.6% to $11.4 million.

While Cloud Peak Energy Inc. and Westmoreland Coal Co. may have been among the nation’s top producers previously, they were excluded because both companies filed for bankruptcy protection during the last year or so and subsequently sold off or transferred their assets.

Peabody Energy Corp., which has been hailed as the leading U.S. coal producer, saw its value plummet 73.5% to $914.8 million on Nov. 22 from nearly $3.45 billion as of Jan. 8. That decline dropped Peabody down to third place in terms of market capitalization, behind Alliance Resource Partners LP and Arch Coal Inc., the only two U.S. producers with a value exceeding $1 billion as of Nov. 22.

Several analysts said Alliance is one of the strongest, if not the strongest, thermal-focused U.S. coal producer. Given declining domestic utility demand, coupled with weakened export markets for U.S. miners, the company’s overall strength has proven to be an anomaly in the space. Several of the other top U.S. coal companies reorganized and shed some debt in recent years or benefited primarily from their metallurgical coal investments.

The company with the most significant percentage decline in market value was recently delisted from the NYSE. Foresight Energy LP’s market capitalization plunged 97.1% to $14.6 million from January to November following its affiliated company’s bankruptcy protection filing in October and a less than impressive third quarter that may foreshadow the company’s own trip to a bankruptcy court.

More ($): Top 10 U.S. coal producers’ market value plunges 59.4% January to November Exclusive

Source

Leave a Reply

Your email address will not be published. Required fields are marked *