Powder River Basin coal production continues falling

Posted on December 31, 2020Categories oimdzshwTags , , , , , , , , , , ,   Leave a comment on Powder River Basin coal production continues falling

first_img FacebookTwitterLinkedInEmailPrint分享S&P Global Market Intelligence ($):Coal mines in the Powder River Basin bounced back from the rain-soaked second quarter, increasing production 18.9% in the third quarter, but still saw year-over-year declines. Ten of the top 16 mines reported production decreases from 2017, lowering the region’s output by 5% to 86.6 million tons, according to data compiled by S&P Global Market Intelligence.Despite reporting a $41.5 million net loss in the third quarter and filing for bankruptcy in October, Westmoreland Coal Co. saw significantly higher production levels at two of its mines in the third quarter than in the second. The Absaloka mine posted a 33.7% production increase, the largest among the basin’s top performers, producing 1.1 million tons. The Rosebud mine, which the company plans to sell alongside its other core assets, saw a 22.4% quarter-over-quarter uptick but the largest year-over-year percentage decline among the top producers with a 29% decrease to 1.8 million tons.The effects of the second-quarter rains carried over into Cloud Peak Energy Inc.’s third-quarter production. The company reported in an Oct. 25 earnings call that the moisture caused instability in its Antelope surface mine’s dragline pits. As miners removed coal from the pits, wet spoil would shift down into the pit and block the coal. CEO Colin Marshall said the company anticipates that fourth-quarter shipments will be constrained but “there’s no reason why Antelope can’t perform the way it should next year.” The pits are expected to “return to their normal cycle” by the end of 2018.Antelope had the second-largest year-over-year production drop during the period, with a 26% decrease to 5.8 million tons. The company’s Spring Creek mine produced 5.3% less coal year over year with 3.7 million tons, and the Cordero Rojo mine’s production dropped 10.5% to 3.4 million tons. All three saw at least a slight improvement over the second quarter’s production levels, with the Antelope mine posting an 18.6% quarter-over-quarter uptick.Peabody Energy Corp.’s North Antelope Rochelle mine, the largest coal mine in the country, posted a 22% uptick from the second quarter to 26 million tons, though levels were down 6.3% from the year-ago period. Its Caballo and Rawhide mines also saw production increases from the second quarter, rising 16.2% to 3.1 million tons and 29.3% to 2.4 million tons, respectively.More ($): Powder River Basin Q3 coal output improves from Q2 but down 5% from year ago Powder River Basin coal production continues fallinglast_img read more

Is Asia also our opportunity for tourism investment?

Posted on November 18, 2020Categories cyzlkjjuTags , , , , , , , , , , ,   Leave a comment on Is Asia also our opportunity for tourism investment?

first_imgWe recently wrote about current trends in tourism according to Booking.com, which should be paid attention to. Richard Clarke, an analyst at Berstein Asset Management, then proposed one of these trends as an exceptional economic opportunity – namely, investing in tourism development within one of Asia’s most populous countries, China.Surprisingly, there is a shortage of hotels and similar accommodation units in the Asian market, while at the same time a mobile and affluent middle class is developing, fascinated by Western brands. Some of the biggest players present there, the giants Marriott, Hilton, Accor and IHG are already planning to expand to a total of 64% of the total market, and just today the World Tourism Organization (UNWTO) announced that in cooperation with Vynn Capital, a company specializing in capital ventures in the early stages of implementation in the Southeast Asian market launched this strategically important partnership that should actively promote the tourism sector through the promotion of entrepreneurship and innovation.The joint effort of Vynn Capital and the World Tourism Organization should create a framework and policy that would support technological start-ups, which recognize the possibility of developing the tourism sector of the region. Both sides will seek to motivate existing industries and actors such as hotels and gastronomic associations to adapt digital strategies, but also the private sector to technology investments. The role of Vynn Capital is to support tourism entrepreneurship and existing market players as a partner of the World Tourism Organization as the market turns to new technologies and innovations.”The World Tourism Organization is proud to partner with Vynn Capital to help us create real solutions for the much-needed digital transformation of tourism. Such partnerships are key in continuing to generate opportunities through tourism and to demonstrate that capital ventures are also crucial if we are to establish progressive sustainable development.”Said UNWTO Secretary-General Zur Pololikashvili.According to the UNWTO, the number of international visits in all regions has increased since the beginning of 2018, which continues last year’s strong trend. Significant growth is led by Asia and the Pacific, especially Southeast Asia with 10% and South Asia with 9% growth, which has already surpassed last year’s increase in international visits by 6%.”Tourism represents a great opportunity for Southeast Asia where we are witnessing the emergence of a strong middle class. Vynn Capital has recognized tourism as a key investment area and we will continue to work together with entrepreneurs and existing actors to promote the region’s tourism sector. We believe that technology organizations that focus on consumer mobility, such as Indonesia’s Travelio and Carsome, will continue to be the bearers of the economic benefits of tourism development. We have teamed up with the World Tourism Organization to raise a new generation of innovative tourism organizations in Southeast Asia. ”, said Victor Chua, one of the founders of Vynn Capital and president of the MVCA (Malaysia Venture Capital & Private Equity Association).It is certainly useful to follow the development of the situation…RELATED NEWS:CURRENT TRENDS IN TOURISM WHICH SHOULD BE ATTENTEDlast_img read more