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http://www.vaneck.com/index.cfm?cat=3192&cGroup=ETF&tkr=KOL&LN=3_02


 

Fund Holdings as of 2009/11/27

 
Number Holding Ticker Shares Market Value % of net assets
1 Peabody Energy Corp BTU 772,620 $34,427,947.20 8.61%
2 China Coal Energy Co 1898 HK 20,184,095 $33,593,351.24 8.40%
3 China Shenhua Energy Co Ltd 1088 HK 6,388,908 $30,932,859.92 7.74%
4 Consol Energy Inc CNX 668,720 $30,687,560.80 7.67%
5 Bumi Resources Tbk PT BUMI IJ 91,593,500 $22,959,510.38 5.74%
6 Bucyrus International Inc BUCY 404,450 $20,893,887.00 5.22%
7 Yanzhou Coal Mining Co Ltd 1171 HK 10,525,961 $20,601,676.28 5.15%
8 Joy Global Inc JOYG 383,676 $20,534,339.52 5.14%
9 Walter Industries Inc WLT 255,842 $17,683,799.04 4.43%
10 Arch Coal Inc ACI 833,921 $17,612,411.52 4.42%
11 Massey Energy Co MEE 460,119 $17,295,873.21 4.33%
12 Alpha Natural Resources Inc ANR 436,651 $16,330,747.40 4.08%
13 Adaro Energy Tbk PT ADRO IJ 64,119,715 $11,353,191.31 2.84%
14 Exxaro Resources Ltd EXX SJ 908,662 $11,217,142.58 2.81%
15 Fushan International Energy Group Ltd 639 HK 11,822,067 $10,509,493.64 2.63%
16 Tambang Batubara Bukit Asam Tbk PT PTBA IJ 4,347,000 $7,271,465.16 1.83%
17 Felix Resources Ltd FLX AU 459,419 $7,095,221.67 1.82%
18 Centennial Coal Co Ltd CEY AU 1,999,044 $5,948,969.65 1.49%
19 Hidili Industry International Development Ltd 1393 HK 5,186,307 $5,727,542.20 1.43%
20 MacArthur Coal Ltd MCC AU 652,823 $5,519,417.41 1.38%
21 Aquila Resources Ltd. AQA AU 585,727 $5,250,377.25 1.31%
22 Patriot Coal Corp PCX 402,526 $5,216,736.96 1.30%
23 Straits Asia Resources Ltd SAR SP 3,106,200 $4,997,772.24 1.25%
24 Indo Tambangraya Megah PT ITMG IJ 1,610,552 $4,625,839.26 1.16%
25 New Hope Corp Ltd NHC AU 1,199,355 $4,595,033.50 1.15%
26 Riversdale Mining Ltd RIV AU 646,872 $3,700,358.73 0.93%
27 Western Canadian Coal Corp. WTN CN 1,352,131 $3,377,459.85 0.84%
28 Whitehaven Coal Ltd WHC AU 784,123 $3,032,327.53 0.76%
29 International Coal Group Inc ICO 688,683 $2,961,336.90 0.74%
30 Coal & Allied Industries Ltd. CNA AU 39,127 $2,781,043.45 0.70%
31 James River Coal Co JRCC 148,658 $2,781,391.18 0.70%
32 Indika Energy Tbk PT INDY IJ 7,543,000 $1,712,696.21 0.43%
33 Gloucester Coal Ltd GCL AU 229,552 $1,321,183.28 0.33%
34 FreightCar America Inc RAIL 64,168 $1,179,407.84 0.30%
35 UK Coal PLC UKC LN 846,444 $960,968.28 0.24%
36 Cash   961,310 $961,326.23 0.24%
37 Mitsui Mining Co Ltd 3315 JP 811,500 $903,753.32 0.23%
38 Fuel Tech Inc FTEK 94,794 $854,093.94 0.21%
39 Darma Henwa PT Tbk DEWA IJ 37,815,500 $597,753.29 0.15%
40 Felix Resources Ltd-In Speci FLXXE AU 355,673 $28,565.89 0.01%

 

Van Eck in the News -

http://www.vaneck.com/index.cfm?cat=321&LN=3-09

The Daily and Weekly Views

 

Announcement when this fund was started in September 2008 - 

http://www.vaneck.com/sld/vaneck//offerings/press_releases/KOL%20Launch%20Press%20Release.pdf

 

Electricity and Coal

by Sol Palha, Tactical Investor | February 6, 2009

Print

Billion Kilowatt hours

 

Country

1980

1990

1995

2000

2003

2005

2006

Bermuda

0.29

0.43

0.46

0.55

0.58

0.61

0.62

Canada

309.6

433.63

466.38

504.48

528.13

541.25

529.95

Greenland

0.14

0.19

0.23

0.26

0.27

0.28

0.28

Mexico

56.66

100.22

122.05

167.25

171.76

189.98

195.91

United States

2,094.45

2,837.08

3,163.96

3,592.36

3,662.03

3,810.98

3,816.85

North America

2,461.15

3,371.59

3,753.11

4,264.95

4,362.82

4,543.15

4,543.66

France

236.75

324.44

369.02

411.93

437.3

451.81

447.27

Germany

- -

- -

483.48

505.04

532.5

545.76

549.06

Turkey

21.84

47.84

68.39

98.57

110.43

129.01

141.46

Russia

- -

- -

714.23

717.29

745.18

779.44

819.59

South Africa

85.52

144.71

161.69

180.73

199.85

211.19

201.88

China

261.49

549.34

876.43

1,177.89

1,678.77

2,195.10

2,528.95

India

97.9

219.88

318.28

375.39

428.18

483.29

517.21

Japan

523.72

776.49

896.62

946.3

936.6

979.82

982.46

Source www.eia.doe.gov

The US has been generating over 49% of its electricity from coal for decades now and despite all the noise, we do not think this figure is going to change substantially soon.  From 1980 to 2006, US electricity consumption has increased by 89%, which means that coal consumption increased by a similar magnitude, for the percentage of electricity generated from coal has remained somewhat steady throughout the years.  The idea that solar, wind and other sources can immediately replace coal is a fallacy; it would take years for us to replace coal plants with a mixture of nuclear, solar and wind power plants.  This would not address future demand and so bottom line, while coal is dirty, it is here to stay for years to come. 

The two main players now are China and India; china now consumes more coal now than any other country in the world; to put this in perspective, China now consumes more coal than US and the Entire European union combined. Last year China consumed 2.62 billion tons, an increase of over 160% from 2000, when it consumed only 1 billion tons.   By 2010, it is estimated that China will use approximately 3 billion tons; currently, China alone consumes roughly 1/3 of the worlds total coal output.  Roughly, 70% of China's electricity is generated from Coal (1.93 trillion kilowatts), and it is still constructing roughly one new coal power plant a week.  Even Though China has embarked on one of the most aggressive nuclear power plants building sprees ever, when all these plants are built, they will barely supply 5% of Chinas total electricity needs. Thus it's fairly easy to assume that coal will remain a major driving force of the Chinese economy for decades to come. 

India is the 6th largest generator of electricity in the world, and it's also ranked as the 6th largest consumer worldwide.  Over the past decade consumption has increased by over 64% and its projected increase in electricity consumption of 8-10% annually is one of the highest in the world.  As with China and the United States, coal provides a major portion of India's electricity; currently, 69% of India's electricity is generated from coal.

In 1996 India consumed 295 million tons of coal; by 2005 the figure had jumped to over 465 million tons. From 2000 to 2005 India's coal usage increased by 5.5% a year; if we use the same projection, then in 2006 it consumed 490 million tons, in 2007 it consumed 516 million tons, in 2008 it consumed 544 million tons and by 2011 it will be consuming roughly 637 million tons; this off course is based on the assumption that consumption will continue to increase at a pace of 5.5% per annum and not spiral upwards.

The EIA Projects that India and China will account for 34% of the world's total increase in energy consumption worldwide and 85% of the world's total projected increase in coal usage between 1995 and 2020.  China and India have increased their power output by 1000% and 500% respectively since 1980 and at the rate China is going; it will eventually surpass the United States. The only way it's going to be able to increase its output in a significant way it's to embrace every single source of energy out there and that includes coal.

These two countries are already operating well below optimal capacity; in fact, rolling black outs are the norm in both these countries and thus the question does not fall into the" if" category but the must category when it comes to the construction of new power plants. No matter how aggressively they build new nuclear, solar, or hydroelectric plants, they will still need to continue building coal fired plants in order to meet demand, which continues to increase at a record pace.

Hence even if by some miracle the U.S. could implement some plan in record time that would cut down the need for new coal plants, it would in no way affect long term prices because most of the world's electricity is still derived from coal. 

There are several ways to play this sector, some more rewarding than the others, but the simplest way if you are bullish, would be to purchase shares in KOL, the coal ETF. As market conditions are currently far from normal, individuals should refrain from taking huge bites, but instead deploy their money in bits and pieces. Finally, one needs to take the long term view, for the short term ride is bound to be volatile.

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Copyright © 2009 Sol Palha
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Sol Palha | Tactical Investor | 38-11 Ditmars Blvd. Astoria, NY, 11105 | Email | Website

So, he writes this in February... Look at the weekly chart... What did this ETF do??? YEP - he nailed it!!!





 

 

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PostSubject
#154   A few turncoat libs will make this clear temp luvs amy 03/09/14 07:45:09 PM
#153   Black Swan event. temp luvs amy 03/04/14 10:32:37 AM
#152   Coal Futures up another buck. temp luvs amy 02/19/14 09:27:18 PM
#151   Green Energy? temp luvs amy 02/19/14 10:19:16 AM
#150   On the launch pad? Global Warming temp luvs amy 02/14/14 11:37:12 AM
#149   Getting interesting. temp luvs amy 11/04/13 01:59:36 PM
#148   Gonna be a lonely board without you. ;-) temp luvs amy 09/09/13 10:22:47 AM
#147   Based on Peabody's earnings alone, I would expect temp luvs amy 07/23/13 08:51:43 PM
#146   I have a sell order at $20, I Johnnybravo79 07/23/13 05:27:48 PM
#145   Tell me what I say? temp luvs amy 07/23/13 12:22:54 PM
#144   Looking good today. 30 day high, breakout. temp luvs amy 07/23/13 11:28:20 AM
#143   Most of my basic materials are doing better. temp luvs amy 07/18/13 10:21:26 PM
#142   Any chance this is picking up? Johnnybravo79 07/17/13 08:50:22 PM
#141   U.S. Corn Reserves on June 1 Drop to temp luvs amy 06/30/13 01:33:12 PM
#140   I think we get an Obama bounce after temp luvs amy 06/30/13 12:45:58 PM
#139   I am sick of it myself. I temp luvs amy 06/18/13 07:38:26 PM
#138   You still think this is bound to bounce Johnnybravo79 06/18/13 06:45:38 PM
#137   QL is the NYMEX contract for Central Appalachian Coal. temp luvs amy 05/31/13 11:31:14 AM
#136   I am on this ride as well. What Johnnybravo79 05/31/13 11:19:38 AM
#135   Well that was fun. temp luvs amy 05/30/13 10:28:20 AM
#134   Added here. $21.76 temp luvs amy 05/22/13 01:59:20 PM
#133   QL futures on the rise. temp luvs amy 05/21/13 09:18:47 AM
#132   I am calling the Breakout here. A temp luvs amy 05/08/13 10:55:46 AM
#131   Seems to be firming up a bit. KOL temp luvs amy 05/07/13 09:54:10 AM
#130   Now you've gone and crossed the line. KOL temp luvs amy 05/03/13 01:24:06 PM
#129   A little bit of green is good. -KOL temp luvs amy 05/02/13 02:22:54 PM
#128   You're nobody, when nobody loves you. KOL temp luvs amy 04/30/13 04:54:01 PM
#127   They say it's lonely at the top. temp luvs amy 04/25/13 10:28:21 AM
#126   There's still time. temp luvs amy 04/24/13 10:54:31 AM
#125   Trust me guys, this is it. temp luvs amy 04/19/13 03:16:44 PM
#124   Loaded the boat. Mortgaged the farm. temp luvs amy 04/19/13 01:48:23 PM
#123   Good question? If the answer was multiple **D*A** 03/15/12 08:30:21 PM
#122   Major volume throughout the month of March... what's Pro-Life 03/15/12 08:24:45 PM
#121   A lot of volume the last couple of **D*A** 03/15/12 07:04:58 PM
#120   Scoreboard for the week: +3.97% Pro-Life 01/20/12 10:46:45 PM
#119   And now, a breakout looks to be in progress. Pro-Life 01/11/12 08:05:56 PM
#118   Like all commodities, KOL has been challenged to Pro-Life 12/20/11 09:33:33 AM
#117   An outstanding October! Pro-Life 10/26/11 08:43:34 AM
#116   Lots of weakness lately... basically sector wide weakness. Pro-Life 08/04/11 08:38:52 AM
#115   For the week: -2.27% Pro-Life 06/10/11 09:24:14 PM
#114   -1.92% is the scorecard for the week... Pro-Life 04/17/11 08:21:04 AM
#113   Taking a breather this week... Pro-Life 04/06/11 09:48:32 PM
#112   My friends, for the week: +3%!!! Pro-Life 02/05/11 08:35:23 PM
#111   Largely unstoppable. Pro-Life 12/13/10 08:22:49 PM
#110   Charts are unreal! Onward! Pro-Life 10/14/10 08:41:17 AM
#109   Lately, this has been following the broad markets down. Pro-Life 08/15/10 06:06:27 AM
#108   4X return if action was taken immediately after Pro-Life 06/23/10 11:22:51 PM
#107   What a remarkable reversal today! Pro-Life 05/21/10 09:36:34 PM
#106   Still strong market support... Pro-Life 04/05/10 11:02:02 AM
#105   An outstanding week is an understatement! Pro-Life 02/12/10 08:04:18 PM
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