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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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Tuesday, 23 August 22
SHIPPING INDUSTRY TO REMOVE THE INDIAN OCEAN HIGH RISK AREA - BIMCO
After more than a decade of effective threat-reducing counter-piracy operations the shipping industry has removed the ‘Indian Ocean High Risk ...
Tuesday, 23 August 22
SHIPPING: GLOBAL TAX REFORM - WATSON FARLEY & WILLIAMS
OECD rules designed to implement a global minimum corporate tax rate for very large multinational groups have now been published and are expected t ...
Tuesday, 23 August 22
PARTIES CONCLUDE JOINT R&D AGREEMENT FOR WORLD’S FIRST AMMONIA FLOATING STORAGE AND REGASIFICATION BARGE CONTRIBUTING TO PROMOTING THE EARLY INTRODUCTION OF AMMONIA FUEL - NYK
NYK Line, Nihon Shipyard Co., Ltd. (NSY), ClassNK, and IHI Corporation (IHI) signed a joint research and development agreement for the commercializ ...
Monday, 22 August 22
INDONESIAN GOVERNMENT IMPOSED ON NEW PROGRESSIVE ROYALTIES FOR COAL
Indonesian President Joko Widodo has signed a Government Regulation (Number 26 of 2022) on 15 August 2022 related to the progressive royalty rates ...
Monday, 22 August 22
CHINA'S JULY RUSSIAN COAL IMPORTS HIT 5-YR HIGH AS WEST SHUNS MOSCOW - REUTERS
China’s coal imports from Russia jumped 14% in July from a year earlier to their highest in at least five years, as China bought discounted c ...
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- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- White Energy Company Limited
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
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