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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, 12 February 24
US THERMAL COAL EXPORTS HIT 5-YEAR HIGHS AND TOP $5 BLN IN 2023 - REUTERS
United States exporters of thermal coal earned more than $5 billion in 2023 as they shipped out more than 32.5 million metric tons of the high-poll ...
Tuesday, 06 February 24
NEW E-FUELS PROJECT TO MAKE INTERNATIONAL SHIPPING CLIMATE-NEUTRAL - RINA
Transport and trade on the ocean blue must be made much greener. This is the goal of the new €17 million European GAMMA project, where compani ...
Tuesday, 06 February 24
INDIA SEES ANNUAL COAL OUTPUT UP 10.9% IN 2024/25 - REUTERS
India expects domestic coal output to increase by 10.9% to 1.13 billion metric tons in the fiscal year ending March 2025, a senior government offic ...
Tuesday, 06 February 24
INDIA'S COAL PRODUCTION INCREASES BY 10.3% TO 99.73 MILLION TONNE IN JANUARY - PTI
The country’s coal output rose 10.3 per cent to 99.73 Million Tonne (MT) in January, over the same month in the previous fiscal.
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Friday, 02 February 24
DRY BULK MARKET: THE DOWNWARD REVISION IN THE GROWTH OF CAPESIZE TONNE DAYS IN JANUARY WITH THE BCI DROPPING - MARIA BERTZELETOU
In the last week of January, the dry freight market sustained weakness in the Capesize segment, while the number of ballasters in the Southeast (SE ...
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- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
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