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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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- ICICI Bank Limited - India
- MS Steel International - UAE
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- The University of Queensland
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- VISA Power Limited - India
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Planning Commission, India
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
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