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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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Friday, 10 July 20
GLOBAL SHIPPING EARNINGS FORECAST CUT AS SUPPLY SET TO OUTSTRIP DEMAND - MOODY'S
EBITDA forecast worsens, keeping outlook negative. We now expect the aggregate EBITDA of rated shipping companies to fall by around 16%-18% in 2020 ...
Friday, 10 July 20
SLOW RECOVERY IN TANKER RATES TO WEIGH ON BUANA LINTAS LAUTAN - FITCH RATINGS
Fitch Ratings believes that international tanker rates are likely improve after their sharp fall since May 2020, albeit at a slow pace. The weaknes ...
Wednesday, 08 July 20
MARKET INSIGHT - INTERMODAL
During the previous month, the dry bulk market witnessed an impressive increase in the BDI index that has reached 1800 points from 500 with a clear ...
Tuesday, 07 July 20
COAL INDIA WORKERS STRIKE CUTS OUTPUT BY 56%: OFFICIAL - REUTERS
A strike at Coal India Ltd cut production by 56% in the three days ending July 4 as workers oppose opening up coal mining to the private sector, a ...
Tuesday, 07 July 20
WHAT DOES THE PATHWAY TO A NET-ZERO ECONOMY LOOK LIKE FOR MINERS? - WOOD MACKENZIE
Wind, solar, electric vehicles, stationary storage and transmission are all central to achieving the Paris Agreement decarbonisation goals.
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- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Posco Energy - South Korea
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Planning Commission, India
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
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