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