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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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Tuesday, 23 August 22
SHIPPING INDUSTRY TO REMOVE THE INDIAN OCEAN HIGH RISK AREA - BIMCO
After more than a decade of effective threat-reducing counter-piracy operations the shipping industry has removed the ‘Indian Ocean High Risk ...
Tuesday, 23 August 22
SHIPPING: GLOBAL TAX REFORM - WATSON FARLEY & WILLIAMS
OECD rules designed to implement a global minimum corporate tax rate for very large multinational groups have now been published and are expected t ...
Tuesday, 23 August 22
PARTIES CONCLUDE JOINT R&D AGREEMENT FOR WORLD’S FIRST AMMONIA FLOATING STORAGE AND REGASIFICATION BARGE CONTRIBUTING TO PROMOTING THE EARLY INTRODUCTION OF AMMONIA FUEL - NYK
NYK Line, Nihon Shipyard Co., Ltd. (NSY), ClassNK, and IHI Corporation (IHI) signed a joint research and development agreement for the commercializ ...
Monday, 22 August 22
INDONESIAN GOVERNMENT IMPOSED ON NEW PROGRESSIVE ROYALTIES FOR COAL
Indonesian President Joko Widodo has signed a Government Regulation (Number 26 of 2022) on 15 August 2022 related to the progressive royalty rates ...
Monday, 22 August 22
CHINA'S JULY RUSSIAN COAL IMPORTS HIT 5-YR HIGH AS WEST SHUNS MOSCOW - REUTERS
China’s coal imports from Russia jumped 14% in July from a year earlier to their highest in at least five years, as China bought discounted c ...
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- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- Agrawal Coal Company - India
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- SMC Global Power, Philippines
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
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