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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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Wednesday, 30 November 22
INDONESIA’S BUMI RESOURCES TARGETS 2023 COAL OUTPUT OF 80 MLN TONNES - REUTERS
Indonesian coal miner PT Bumi Resources Tbk BUMI.JKis eyeing a 10% increase in output to 80 million tonnes next year amid expectations for more fav ...
Wednesday, 30 November 22
TANKERS: LONGER HAULS TO SUPPORT CONTINUED STRENGTH - BIMCO
Highlights
A rebound in the dirty tanker trade has led the Baltic Exchange Dirty Index (BDTI) to increase by 64% since our last report from mid ...
Wednesday, 30 November 22
MARKET INSIGHT - INTERMODAL
Shipping, although a conservative and innovation adverse industry, is currently in a transition period of digital transformation. According to a su ...
Tuesday, 29 November 22
INDIA TO RECEIVE FIRST LNG CARGO FROM INDONESIA’S TANGGUH LNG - REUTERS
India will receive its first cargo from Indonesia’s Tangguh liquefied natural gas (LNG) plant at the Dahej terminal on Monday, according to a ...
Tuesday, 29 November 22
SEABORNE COAL FLOWS IN 2022 - SIGNAL
This year is crucial for the energy mix in European countries, as the EU has imposed new sanctions on Russia. It is important to emphasize that the ...
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- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- PTC India Limited - India
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
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