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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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- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- MS Steel International - UAE
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- The University of Queensland
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
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