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Friday, 29 July 22
GLOBAL COAL DEMAND IS SET TO RETURN TO ITS ALL-TIME HIGH IN 2022 - IEA
 The world’s consumption of coal is set to rise slightly in 2022, taking it back to the record level it reached nearly a decade ago, according to an IEA report published today, which notes that significant uncertainty hangs over the outlook for coal as a result of slowing economic growth and energy market turbulence.
Based on current economic and market trends, global coal consumption is forecast to rise by 0.7% in 2022 to 8 billion tonnes, assuming the Chinese economy recovers as expected in the second half of the year, the IEA’s July 2022 Coal Market Update says. This global total would match the annual record set in 2013, and coal demand is likely to increase further next year to a new all-time high.
The new report highlights the significant turmoil in coal markets in recent months, which has important implications for many countries where coal remains a key fuel for electricity generation and a range of industrial processes. At the same time, the world’s continued burning of large amounts of coal is heightening climate concerns, as coal is the largest single source of energy-related CO2 emissions.
Worldwide coal consumption rebounded by about 6% in 2021 as the global economy recovered rapidly from the initial shock of the Covid pandemic. That sharp rise contributed significantly to the largest ever annual increase in global energy-related CO2 emissions in absolute terms, putting them at their highest level in history.
Global coal demand is being propped up this year by rising natural gas prices, which have intensified gas-to-coal switching in many countries, as well as economic growth in India. Those factors are being partly offset by slowing economic growth in China and by the inability of some major coal producers to ramp up production.
Demand for coal in India has been strong since the start of 2022 and is expected to rise by 7% for the full year as the country’s economy grows and the use of electricity expands. In China, coal demand is estimated to have declined by 3% in the first half of 2022 as renewed Covid lockdowns in some cities slowed economic growth, but an expected increase in the second half of the year is likely to bring coal consumption for the full year back to the same levels as last year. China and India together consume double the amount of coal as the rest of the world combined, with China alone accounting for more than half the world’s demand.
Coal consumption in the European Union is expected to rise by 7% in 2022 on top of last year’s 14% jump. This is being driven by demand from the electricity sector where coal is increasingly being used to replace gas, which is in short supply and has experienced huge price spikes following Russia’s invasion of Ukraine. Several EU countries are extending the life of coal plants scheduled for closure, reopening closed plants or raising caps on their operating hours to reduce gas consumption. However, Europe only accounts for about 5% of global coal consumption.
As soaring natural gas prices have made coal more competitive in many markets, international coal prices have risen in turn, hitting three all-time peaks between October 2021 and May 2022. Sanctions and bans on Russian coal following Russia’s invasion of Ukraine have disrupted markets, and issues in other major exporters have contributed to supply shortages. With other coal producers facing constraints in replacing Russian output, prices on coal futures markets indicate that tight market conditions are expected to continue well into next year and beyond.
Source: IEA
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Thursday, 13 October 22
OPEC DOWNGRADES CRUDE OIL DEMAND, AS WORLD ECONOMY ENTERS SLOWDOWN
Crude Oil Price Movements
The OPEC Reference Basket (ORB) declined m-o-m by $6.58 in September, or 6.5%, to average $95.32/b. Pressure from equ ...
Wednesday, 12 October 22
MARKET INSIGHT - INTERMODAL
Sale and Purchase activity during the first three quarters of 2022 has been remarkable.
Focusing only on Tankers and Bulkers, such v ...
Monday, 10 October 22
ENERGY TRANSITION BOOSTS GLOBAL LONG-TERM DEMAND FOR METALS - FITCH RATINGS
The energy transition will significantly increase demand for metals used in manufacturing of electric vehicles (EVs) and renewable power generation ...
Monday, 10 October 22
GLOBAL CEOS EXPECT IMPENDING RECESSION TO BE 'SHORT AND SHARP,' POLL SHOWS - CNBC
Global CEOs are anticipating a recession in the next 12 months, according to a new survey by professional services firm KPMG, which said more than ...
Thursday, 06 October 22
AUSTRALIA’S RESOURCES REVENUE TO HIT RECORD AMID UKRAINE CONFLICT - REUTERS
Australian resources and energy export earnings are forecast to jump 7% to a record A$450 billion ($290 billion) this fiscal year, bolstered by soa ...
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- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- MS Steel International - UAE
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- PTC India Limited - India
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- The University of Queensland
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
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