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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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Monday, 12 February 24
US THERMAL COAL EXPORTS HIT 5-YEAR HIGHS AND TOP $5 BLN IN 2023 - REUTERS
United States exporters of thermal coal earned more than $5 billion in 2023 as they shipped out more than 32.5 million metric tons of the high-poll ...
Tuesday, 06 February 24
NEW E-FUELS PROJECT TO MAKE INTERNATIONAL SHIPPING CLIMATE-NEUTRAL - RINA
Transport and trade on the ocean blue must be made much greener. This is the goal of the new €17 million European GAMMA project, where compani ...
Tuesday, 06 February 24
INDIA SEES ANNUAL COAL OUTPUT UP 10.9% IN 2024/25 - REUTERS
India expects domestic coal output to increase by 10.9% to 1.13 billion metric tons in the fiscal year ending March 2025, a senior government offic ...
Tuesday, 06 February 24
INDIA'S COAL PRODUCTION INCREASES BY 10.3% TO 99.73 MILLION TONNE IN JANUARY - PTI
The country’s coal output rose 10.3 per cent to 99.73 Million Tonne (MT) in January, over the same month in the previous fiscal.
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Friday, 02 February 24
DRY BULK MARKET: THE DOWNWARD REVISION IN THE GROWTH OF CAPESIZE TONNE DAYS IN JANUARY WITH THE BCI DROPPING - MARIA BERTZELETOU
In the last week of January, the dry freight market sustained weakness in the Capesize segment, while the number of ballasters in the Southeast (SE ...
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- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Romanian Commodities Exchange
- Deloitte Consulting - India
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Australian Coal Association
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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