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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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Saturday, 18 February 23
2023 MARINE FUEL MARKET PREDICTIONS - JOHN BERGMAN, AURAMARINE
The drive for decarbonisation we witnessed in 2022 has continued into 2023, demonstrating the shipping’s industry positive strides in the fas ...
Saturday, 28 January 23
COAL GROWTH BLIP NOT TO BE REPEATED - BALTIC EXCHANGE
As 2022 drew to a close, global coal demand looked set to end the year just 1.2% up on the previous year. But that small increase was enough to pus ...
Thursday, 26 January 23
CHINA'S COAL OUTPUT INCREASES IN DECEMBER 2022 - XINHUA
China’s raw coal output posted stable expansion in December 2022, official data showed.
The country produced 400 million tonne ...
Thursday, 26 January 23
COKING COAL NARROWS THE GAP ON THERMAL AS CHINA REOPENS - REUTERS
The premium of high-grade thermal coal over coking coal in Asia is shrinking as China’s re-opening and ending of a ban on imports from Austra ...
Thursday, 26 January 23
AUSTRALIA'S CORONADO GLOBAL SEES COAL PRICES RISING ON RESUMING CHINA IMPORTS - REUTERS
Australia’s Coronado Global Resources said on Tuesday resuming metallurgical coal imports to China would likely push sea-borne coal prices hi ...
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- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
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