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Tuesday, 27 September 22
14% INCREASE IN EUROPEAN COAL DEMAND TO BE SHORT-TERM TREND - WOOD MACKENZIE
 European seaborne thermal coal demand is projected to increase 14% or 12 million metric tonnes (Mt) this year to 98 Mt as it grapples with the current energy crisis. But this will be a short-lived bump and provide no significant opportunities to expand existing coal infrastructure, as global demand will continue to trend downward, say analysts at Wood Mackenzie, a Verisk business (Nasdaq: VRSK).
Adam Woods, Senior Research Analyst with Wood Mackenzie said: “With many European nations increasing thermal coal use, an additional nine gigawatts (GW) of coal-fired capacity has been made available to meet energy demands and make up for the decline in Russian energy imports. Coal prices are surging, but they are still more affordable than record-high gas prices. While this scenario has made for a slight resurgence, we believe that this will be a relatively short-term event and we do not see companies making major investments to increase infrastructure or long-term production.”
Wood Mackenzie estimates that of the additional 9 GW of coal capacity being made available, only 4.4 GW is in the market, while the rest will be used as an emergency backup in case of an electricity shortage – despite coal-fired power being more economic than natural gas.
The Queensland hard coking coal benchmark remains unnaturally lower than the Newcastle thermal coal price, spurring questions about metallurgical coal crossing over to the thermal market and providing an even cheaper alternative.
“Despite being classified as a coal and being cheaper than thermal coal at this moment, in general, most metallurgical coals do not make great fuels for power plants. Their coal qualities can be a hindrance, and at worst a detriment, to power plant operational efficiency. In our opinion, there will be no wholesale swaps between the two coal types. Though, subject to spot cargo availability, there will be limited options for certain metallurgical coals to crossover to the European import thermal coal market,” said Anthony Knutson, Principal Analyst, Coal.
Long-term, global thermal coal demand will continue to recede. Conversely, this recent bump in coal may speed up the change to renewables in Europe, as this current crisis has highlighted the need for energy security and independence.
Said Woods, “We expect higher European coal-fired generation to last until the middle of this decade. However, imported higher-quality coal generation will still be phased out completely by the end of the decade, although lower-quality domestic lignite generation could extend much further. The higher energy price outlook and supply security concerns make renewables more attractive. We think we will see an additional 35 GW of solar and 15 GW of wind by 2030 in Europe, driven by policy changes such as Germany’s doubling of its 2030 solar target to 205 GW from 100 GW.”
Source: Wood Mackenzie
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Wednesday, 22 March 23
MARKET INSIGHT - INTERMODAL
The crude tanker market continues to gather momentum as we head towards the end of 1Q2023, against a backdrop of strong U.S. exports paired with a ...
Wednesday, 22 March 23
WILL LOWER GAS PRICES SPARK SWITCHING IN EUROPE AND ASIA?
Record high prices devastated demand for gas and LNG across Asia and Europe last year. But with prices falling, companies are starting to re-evalua ...
Monday, 20 March 23
NTPC MULLS 5.4 MILLION TONNES COAL IMPORT IN FIRST HALF OF 2023-24: PTI
State-run power giant NTPC is planning to import around 5.4 million tonnes of coal to meet the supply shortage during the first half 2023-24 fiscal ...
Monday, 20 March 23
S. AFRICA’S EXXARO RESOURCES SAYS COAL PRICES COOLING OFF - REUTERS
South Africa’s Exxaro Resources on Thursday posted a 28% jump in 2022 profit after seeing average coal prices surge more than 150%, but warne ...
Saturday, 18 March 23
RUSSIAN LNG EXPORTS TO EUROPE REMAIN HIGH - VESSELS VALUE
Russian LNG exports to Europe remained at very high levels in February at 3.6 million CBM, following a 13 month high in January of 4.1 million CBM. ...
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- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Vedanta Resources Plc - India
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- Independent Power Producers Association of India
- Planning Commission, India
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- The Treasury - Australian Government
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- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
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- Mintek Dendrill Indonesia
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- Deloitte Consulting - India
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- Ministry of Transport, Egypt
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- Energy Development Corp, Philippines
- Wilmar Investment Holdings
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- Directorate General of MIneral and Coal - Indonesia
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- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
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- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- PTC India Limited - India
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
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- Bayan Resources Tbk. - Indonesia
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- Parliament of New Zealand
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- Wood Mackenzie - Singapore
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- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
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- European Bulk Services B.V. - Netherlands
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- Standard Chartered Bank - UAE
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- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
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- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
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- Formosa Plastics Group - Taiwan
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- Metalloyd Limited - United Kingdom
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- Directorate Of Revenue Intelligence - India
- Australian Coal Association
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- Bhoruka Overseas - Indonesia
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- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- The University of Queensland
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
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- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
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- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
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- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
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- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Eastern Coal Council - USA
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- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
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- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
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- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
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- Globalindo Alam Lestari - Indonesia
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- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
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