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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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Friday, 10 November 23
THE COMMODITIES FEED: OIL UNDER PRESSURE - ING
Energy – Brent plummets
The oil market came under significant pressure yesterday. ICE Brent settled 4.19% lower on the day and ...
Friday, 10 November 23
COAL USE AT U.S. POWER PLANTS CONTINUES DOWNWARD SPIRAL; FULL IMPACT ON MINES TO BE FELT IN 2024 - IEEFA
This year, the use of coal by the U.S.’s power producers has been so anemic that the fuel has not achieved a 20% market share in any month so ...
Friday, 10 November 23
INDIA: NATIONAL COAL INDEX RISES 3.83 POINTS IN SEPTEMBER AMID HIGHER DEMAND - LIVEMINT
The National Coal Index (NCI) rose 3.83 points to 143.91 in September amid growing demand for coal.
The union coal ministry on Tuesd ...
Thursday, 09 November 23
WE'RE PRODUCING TOO MUCH COAL, OIL AND GAS, REPORT SAYS - WSJ
World leaders pledged in 2015 to reduce emissions in a combined effort to limit climate change.
Now they are stepping up production ...
Thursday, 09 November 23
GREEK AND CHINESE COMPANIES OWN 34% OF THE GLOBAL FLEET’S CARGO CAPACITY - BIMCO
“The global fleet of cargo carrying ships consists of around 61,000 ships with a deadweight capacity of about 2,200 million tonnes. The ships ...
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- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Parliament of New Zealand
- The University of Queensland
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- MS Steel International - UAE
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Australian Coal Association
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
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