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Friday, 02 August 24
ENERGY MARKET DEVELOPMENTS: COAL AND NATURAL GAS PRICES REACH RECORD HIGHS - WORLD BANK
 The recent surge in natural gas and coal prices has been so swift that the main benchmarks were roughly three times higher in 2022Q2 compared to a year earlier. European natural gas and South African coal prices reached all-time highs in March and April, while U.S. natural gas prices reached their highest level since 2008. The surge in prices partly reflects the impact of the Russian invasion of Ukraine; in 2020, Russia accounted for one-quarter of global exports of natural gas and just under one-fifth of coal exports. Beyond the impact of the war, demand for natural gas and coal has been robust, rising by about 5 and 6 percent, respectively, in 2021 amid a strong post-pandemic recovery, with both reaching record highs.
The war in Ukraine is disrupting trade in energy. Europe relies heavily on Russia for imports of natural gas and coal. In response to the war, the European Union imposed a ban on imports of Russian coal starting in August 2022 and has pledged to reduce imports of Russian gas by two-thirds by the end of the year. While some of Russia’s coal can be redirected to other countries, this will be costly as coal is bulky and expensive to transport. Redirection of natural gas is even more limited due to a lack of transportation infrastructure — 70% of Russia’s exports to Europe are by pipeline.
EU turns to alternative LNG suppliers. The EU has sharply increased its imports of liquefied natural gas (LNG) to rebuild depleted inventories and diversify its suppliers. Inventories have risen rapidly in the last few months, although they remain slightly below the five-year average. In addition, EU countries are investing in additional infrastructure to facilitate LNG trade, such as new terminals, and the EU has also announced plans to sharply increase renewable energy capacity. Energy policies in Europe, however, have large spillover effects on other countries. For example, the sharp increase in EU imports of LNG has forced other countries that rely on LNG, notably emerging markets in Asia, to turn to coal.
Amid high prices, U.S. exports of LNG soar. The United States exported 11.5 billion cubic meters per day in the first half of 2022, a record high and equal to 12% of its domestic production. U.S exports to the EU and the United Kingdom have more than tripled compared to last year, such that Europe accounted for about three-quarters of U.S. LNG exports in the first half of 2022. The increase in U.S. LNG exports reflects the high spot prices of European natural gas compared to both the U.S. and Asia prices. U.S. LNG exports have recently declined, however, due to an explosion at a major LNG terminal. This disruption to supplies is expected to last until October.
Coal production rises amid high prices and shortages. Although global coal production increased by nearly 6% in 2021, coal shortages in China and India led to policies aimed at increasing domestic production. Because the coal (and natural gas) shortages have persisted, additional policy measures were introduced earlier this year. India, for example, announced plans to reopen 100 coal mines that had previously been considered uneconomic.
Risks to the natural gas and coal outlook. After a projected sharp increase in 2022, natural gas and coal prices are expected to moderately decline in 2023, although they will remain much higher than their five-year average. The duration of the Russia-Ukraine conflict and the extent of its disruption to trade in coal and natural gas are the biggest uncertainties facing the outlook for the market. A sharp reduction in Russia’s exports to the EU, for example, could cause prices to spike, particularly if it occurred during the winter period when demand is high. Exports of natural gas from Russia to Europe have already fallen due to maintenance and other technical issues with the Nord Stream 1 pipeline. Prices also remain vulnerable to weather-related conditions and import policies that can affect trade patterns and push up costs. This is particularly the case given the very limited global spare production capacity for natural gas.
By Peter Nagle & Kaltrina Temaj
World Bank
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Wednesday, 31 January 24
GAS EXPORTS COST U.S. CONSUMERS MORE THAN $100 BILLION OVER 16-MONTH PERIOD - IEEFA
Limited Demand Growth Could Dampen the Dry Bulk Market in the Coming Months BIMCOStarting in late 2021—before its invasion of Ukraine—R ...
Tuesday, 30 January 24
LIMITED DEMAND GROWTH COULD DAMPEN THE DRY BULK MARKET IN THE COMING MONTHS - BIMCO
Demand
In our base scenario, we expect cargo demand to grow by 0-1% in 2024 and 0.5-1.5% in 2025. This is a 0.5 percentage point reduction for ...
Friday, 26 January 24
RED SEA DIVERSIONS ADD NEARLY A MILLION DOLLARS PER VOYAGE TO SHIPPING COSTS WHILE DOUBLING TRANSIT TIME - LSEG
The incremental costs of diverting a tanker from Asia to NW Europe via the Cape of Good Hope is accounting for an extra $932,905 USD per voyage whi ...
Friday, 26 January 24
HARD COAL GUARDIAN ANGEL OF THE ENERGY SUPPLY - GERMANY COAL IMPORTERS ASSOCIATION
- No security of supply without hard coal
- The Substitute Power Plant Provision Act (EKBG) must be extended
- Higher grid fees due to the ...
Thursday, 25 January 24
THE RED SEA ESCALATION IMPLICATIONS ON GLOBAL SEABORNE TRADE - MARIA BERTZELETOU
In recent days, discussions have intensified about the potential impact on the seaborne trade and ton-miles due to the evolving dynamics of market ...
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- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Australian Coal Association
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Planning Commission, India
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
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