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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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Tuesday, 17 January 23
MARKET INSIGHT - INTERMODAL
Rumor has it that the New Year has come, to set the pace in, for Russia to continue hostilities against Ukraine. Ten months on the go, into Russia& ...
Tuesday, 17 January 23
INDONESIA IS ACCOUNTING FOR 32.3% OF THE GLOBAL SEABORNE COAL MARKET IN 2022 - BENCHERO COSTA
After a slow start in the first quarter, global coal trade has really picked up pace last year, and is now fully back to pre-Covid levels, Benchero ...
Tuesday, 10 January 23
INDONESIAN HBA IS SEEING A SPIKE IN JANUARY 2023 INSTEAD OF A SIGNIFICANT FALL IN DECEMBER 2022
COALspot.com: Indonesian Coal Price Reference up 8.43% in January 2023.
HBA is seeing a dramatic spike in January 2023 i ...
Sunday, 08 January 23
INDIAN COAL POWER PLANTS SHOULD BE COMPENSATED FOR 2022 FORCED GENERATION – REGULATOR : REUTERS
Indian power plants that rely on imported coal should be fully compensated when forced to supply electricity, the country’s power regulator s ...
Sunday, 08 January 23
ELEVATED COAL PRICE A DRAG ON MARGINS OF DOMESTIC BASE METAL PLAYERS: ICRA
The increased price of coal continue to be a drag on the margin of domestic base metal players with no immediate relief in sight, rating agency ICR ...
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- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
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