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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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Tuesday, 29 November 22
SEABORNE COAL FLOWS IN 2022 - SIGNAL
This year is crucial for the energy mix in European countries, as the EU has imposed new sanctions on Russia. It is important to emphasize that the ...
Friday, 25 November 22
APAC THERMAL COAL PRICES CORRECT FROM RECORD HIGH - FITCH RATINGS
Prices of Newcastle 6,000kcal/kg coal have corrected following falling European gas and coal prices, and more supply from Australia could help miti ...
Thursday, 24 November 22
VIETNAM BOOSTS COAL USE PLAN FOR 2030 AS G7 CLIMATE OFFER STALLS - REUTERS
Vietnam has increased its coal power target for 2030 under a revised draft energy plan, government documents seen by Reuters show, while renewables ...
Tuesday, 22 November 22
THE GENCON 2022 CHARTERPARTY - GARD
KNOWLEDGE TO ELEVATE
BIMCO has published a revamped version of the popular GENCON charterparty. Our author, Helena Biggs, was a member of the ...
Tuesday, 22 November 22
INDIA POWER BINGES ON COAL, OUTPACES ASIA - REUTERS
India’s coal-fired power output has increased much faster than any other country in the Asia Pacific since Russia’s invasion of Ukraine ...
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- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Australian Coal Association
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
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