On the Blogs: The Coal Industry’s Fragile New Optimism FacebookTwitterLinkedInEmailPrint分享Clyde Russell for Reuters:For the first time since 2012 there was a mood of optimism at the annual Coaltrans Asia meeting. What remains to be seen is whether this new-found view that the worst is past has any basis in reality, or whether it’s just a different type of delusion for the beleaguered coal industry.Much of the optimism is based on the fact that the benchmark Asian coal price, the Newcastle weekly index, has risen almost 3.9 percent so far this year, ending last week at $52.59 a tonne.If that sounds like a modest increase, it has to be seen in the context of a commodity that has fallen for the past five years, and is still 61 percent below its post-recession peak in January 2011 of $136.30 a tonne. Not to mention that it’s also worth little more than a quarter of its all-time high of $194.79 reached in the giddy boom prior to the 2008 global recession.The main reason for the collapse in prices was the switch from an under-supplied sea-borne market to one that was massively over-supplied as more production was brought on to meet what had been widely assumed to be China’s insatiable appetite for coal. While the supply-demand balance is (slowly) being restored, there is very little fundamental justification for prices to rise much further than current levels.Full item: Coal industry shouldn’t get carried away with new-found optimism
THERE was a gold rush for Guyana’s Kristian Jeffrey and Jason Ray Khalil as the 2019 Caribbean Area Squash Association (CASA) continued at the Georgetown Club.The duo snapped up gold in the Men’s Doubles competition at the Georgetown Club Squash Courts yesterday.The doubles segment, an inaugural feature of the senior CASA, ensured that Guyana continued to show their dominance on the regional court.The Jeffrey/Khalil combination lost the first set to Barbadian players Khamal Cumberbatch and Shawn Simpson 3-11, but rebounded well to win the remaining games. With limited practice as a unit, the two senior Guyanese flowed well on the court to win 11-8, 11-10.Meanwhile the Women’s pair of Taylor Fernandes and Ashley Khalil lost to their Bajan counterparts, Meagan Best and Amanda Haywood 5-11, 9-11.Strive as they did, they were unable to cope with the fitness of the Bajans – putting up a good fight nonetheless.The tournament continued last evening with the third-place singles playoff which featured the Guyanese pair of Taylor and Mary Fung-a-Fat and the male third-place with saw Richard Chin (Guyana) and Joe Chapman (BVI) clash.Megan Best of Barbados was up against Guyana’s best in Nicolette Fernandes for the female final while Christopher Binnie of Jamaica played Cameron Stafford of the Cayman Islands in the male final.