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Friday, 29 July 22
GLOBAL COAL DEMAND IS SET TO RETURN TO ITS ALL-TIME HIGH IN 2022 - IEA
 The world’s consumption of coal is set to rise slightly in 2022, taking it back to the record level it reached nearly a decade ago, according to an IEA report published today, which notes that significant uncertainty hangs over the outlook for coal as a result of slowing economic growth and energy market turbulence.
Based on current economic and market trends, global coal consumption is forecast to rise by 0.7% in 2022 to 8 billion tonnes, assuming the Chinese economy recovers as expected in the second half of the year, the IEA’s July 2022 Coal Market Update says. This global total would match the annual record set in 2013, and coal demand is likely to increase further next year to a new all-time high.
The new report highlights the significant turmoil in coal markets in recent months, which has important implications for many countries where coal remains a key fuel for electricity generation and a range of industrial processes. At the same time, the world’s continued burning of large amounts of coal is heightening climate concerns, as coal is the largest single source of energy-related CO2 emissions.
Worldwide coal consumption rebounded by about 6% in 2021 as the global economy recovered rapidly from the initial shock of the Covid pandemic. That sharp rise contributed significantly to the largest ever annual increase in global energy-related CO2 emissions in absolute terms, putting them at their highest level in history.
Global coal demand is being propped up this year by rising natural gas prices, which have intensified gas-to-coal switching in many countries, as well as economic growth in India. Those factors are being partly offset by slowing economic growth in China and by the inability of some major coal producers to ramp up production.
Demand for coal in India has been strong since the start of 2022 and is expected to rise by 7% for the full year as the country’s economy grows and the use of electricity expands. In China, coal demand is estimated to have declined by 3% in the first half of 2022 as renewed Covid lockdowns in some cities slowed economic growth, but an expected increase in the second half of the year is likely to bring coal consumption for the full year back to the same levels as last year. China and India together consume double the amount of coal as the rest of the world combined, with China alone accounting for more than half the world’s demand.
Coal consumption in the European Union is expected to rise by 7% in 2022 on top of last year’s 14% jump. This is being driven by demand from the electricity sector where coal is increasingly being used to replace gas, which is in short supply and has experienced huge price spikes following Russia’s invasion of Ukraine. Several EU countries are extending the life of coal plants scheduled for closure, reopening closed plants or raising caps on their operating hours to reduce gas consumption. However, Europe only accounts for about 5% of global coal consumption.
As soaring natural gas prices have made coal more competitive in many markets, international coal prices have risen in turn, hitting three all-time peaks between October 2021 and May 2022. Sanctions and bans on Russian coal following Russia’s invasion of Ukraine have disrupted markets, and issues in other major exporters have contributed to supply shortages. With other coal producers facing constraints in replacing Russian output, prices on coal futures markets indicate that tight market conditions are expected to continue well into next year and beyond.
Source: IEA
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Wednesday, 28 April 21
MARKET INSIGHT - INTERMODAL
Despite the current challenges as a result of the global pandemic, 2021 is turning out to be a landmark year for the iron ore market with spot pric ...
Monday, 26 April 21
CHINA TO FURTHER CUT COAL USE IN 2021 - XINHUA
China aims to reduce the share of coal in its energy mix to less than 56% this year, according to a guideline released by the National Energy Admin ...
Wednesday, 21 April 21
COAL FINANCING COSTS HAVE SURGED IN PAST 10 YEARS - UNIVERSITY OF OXFORD - THE GUARDIAN
Coal financing costs have surged over the last decade as investors demand returns four times as high as the payoff required from renewable energy p ...
Tuesday, 20 April 21
US DOLLAR LIBOR TRANSITION IN ASSET FINANCE - WHERE ARE WE NOW? - WATSON FARLEY & WILLIAMS
Since our last article, there has been a raft of regulatory and market body announcements relating to the transition away from LIBOR and the follow ...
Sunday, 18 April 21
INDONESIA LIKELY TO WITNESS 119 OIL AND GAS PROJECTS STARTS ACROSS VALUE CHAIN BY 2025, SAYS GLOBALDATA
Indonesia is expected to witness 119 oil and gas projects commencing their operations across value chain during 2021-2025, accounting for 6% of the ...
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- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Economic Council, Georgia
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
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