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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, 13 October 21
FBX INDEX: THE IMPOSSIBILITY OF SHORT-TERM FORECASTING - LARS JENSEN
Will freight rates on Asia-Europe or the Transpacific reach 40.000 USD/FFE in the run-up prior to Chinese New Year 2022? Or will they start droppin ...
Wednesday, 13 October 21
CHINA FLOODS: COAL PRICE HITS FRESH HIGH AS MINES SHUT - BBC
The price of coal used in China’s power plants has surged to a new record high as another of the country’s key mining regions is hit by ...
Tuesday, 12 October 21
BUMA SIGNS CONDITIONAL AGREEMENT FOR AUSTRALIAN ASSET ACQUISITION
PT Tbk. announced that its subsidiary, PT Bukit Makmur Mandiri Utama, through its newly incorporated Australian subsidiary, BUMA International Pty ...
Tuesday, 12 October 21
INDONESIA'S COAL-BASED POWER PLANTS ARE SUBJECT TO CARBON TAX NEXT YEAR, ELECTRICITY COSTS COULD RISE! - CNBC
The Indonesian government is planning plans to implement a carbon tax of IDR 30 per kilogram (kg) of carbon dioxide equivalent (CO2e) or equivalent ...
Monday, 11 October 21
COAL ABANDONMENT IN POWER GENERATION PROMOTED GAS DEMAND GROWTH IN EUROPE - TOP MANAGER: TASS
Accelerated abandonment of coal in power generation and the overall recovery of economic activity facilitated gas demand growth in Europe and led t ...
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- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
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