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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, 06 September 24
REBOUND IN OIL DEMAND COULD LIFT MARKET IN LATTER HALF OF 2024 - BIMCO
Supply/demand
Based on a strong second half demand, the supply/balance is forecast to strengthen in 2024 but weaken slightly in 2025 as n ...
Friday, 06 September 24
GLOBAL SEABORNE LNG TRADE HAS CONTINUED TO INCREASE LAST YEAR - BANCHERO COSTA
Global seaborne LNG trade has continued to increase last year, helped also by the events in Ukraine which forced Europe to diversify away from Russ ...
Wednesday, 28 August 24
SEABORNE COAL IMPORTS INTO INDIA INCREASED BY +9.9% Y-O-Y TO 146.6 MLN T - BANCHERO COSTA
Global coal trade has really picked up pace over the past year, and is now fully back to pre-Covid levels said Banchero Costa Research in its lates ...
Tuesday, 06 August 24
EXERCISE CAUTION WITH AMMONIA SWITCH - BALTIC EXCHANGE
A new study from the Massachusetts Institute of Technology (MIT) has thrown a spanner into the plan to transition ships from diesel fuel to ammonia ...
Friday, 02 August 24
COAL MARKET DEVELOPMENTS: FALLING PRICES AMID RECORD-HIGH OUTPUT - WORLD BANK
Coal prices inched up in May (m/m) following an 8 percent decline in 2024Q1. The Australian and South African benchmarks have plummeted more ...
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- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- White Energy Company Limited
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- PTC India Limited - India
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- The University of Queensland
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
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