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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, 23 January 23
CHINA'S MAJOR COAL-PRODUCING PROVINCE ACCELERATES DIGITAL TRANSFORMATION - XINHUA
At Chindata Group’s big-data industrial park in Lingqiu County of Datong City, hundreds of thousands of servers are running round-the-clock t ...
Monday, 23 January 23
CHINA'S COAL-RICH PROVINCE SEES COAL PRODUCTION INCREASE IN 2022 - XINHUA
North China’s coal-rich province of Shanxi saw its coal production hit 1.31 billion tonnes in 2022, up 8.7 percent year on year, local author ...
Wednesday, 18 January 23
MARKET INSIGHT - INTERMODAL
From Feb 5, another price cap will be introduced to Russian fuels and oil products, adding to the one for crude oil, already in place from Dec. 3. ...
Tuesday, 17 January 23
FRAUD IS THE BIGGEST THREAT TO CARGO LOSSES - TT CLUB
The almost exclusive use of online facilities to process business transactions allows a myriad of fraudulent pursuits to find opportunities within ...
Tuesday, 17 January 23
CHINA'S SHANXI TARGETS 2023 COAL PRODUCTION OF NEARLY 1.37B TONS - XINHUA
China’s coal-rich province of Shanxi has set a coal production target of nearly 1.37 billion metric tons for 2023, according to a government ...
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- Eastern Energy - Thailand
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- PTC India Limited - India
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- ASAPP Information Group - India
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
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