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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, 06 May 20
COST CHALLENGES IN A US$20/BBL WORLD - WOOD MACKENZIE
A new approach is needed to ensure supply sector resilience
How will US$20/bbl affect the oil and gas supply chain?
It’s going to g ...
Wednesday, 06 May 20
MARKET INSIGHT - INTERMODAL
It comes as no surprise that activity in the dry bulk SnP market remains soft, with asset values caught in the downward spiral generated by the Cov ...
Wednesday, 06 May 20
FLOATING STORAGE OF OIL CARGOES - STANDARD CLUB
KNOWLEDGE TO ELEVATE
Due to a combination of circumstances there is now a worldwide shortage of storage space ashore for both unrefi ...
Wednesday, 06 May 20
IRON ORE TRADE REMAINS REMARKABLY RESILIENT THIS YEAR, AT LEAST IN ASIA - BANCHERO COSTA
Iron ore trade remains remarkably resilient this year, at least in Asia, despite the global economic impact from COVID-19. In the first 4 months of ...
Tuesday, 05 May 20
SUPRAMAXES: YTD SLIDE HAS BEEN 45%, WITH THE AVERAGE FOR 2020 TCA HOLDING AT US$5,793 - ALLIED
It has been almost three months since the WHO officially categorized the current coronavirus outbreak as a global pandemic, an outbreak that has br ...
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- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- PTC India Limited - India
- Deloitte Consulting - India
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
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