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Thursday, 07 December 23
CHINA TO SET UP COAL PRODUCTION RESERVE TO STABILISE PRICES - REUTERS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even as it aims to start phasing down coal use in the second half of this decade.
Draft rules for the new system did not give details on exactly how the reserve would work, but said the aim was to have 300 million metric tons of “dispatchable” annual coal production by 2030, equivalent to 7% of its 2022 production.
China is the world’s top coal consumer and producer. Last year it produced a record 4.5 billion metric tons.
Beijing set a goal in 2021 to have coal reserves equivalent to 15% of its annual consumption stocked at mines, ports, power plants and some designated storage areas.
The new system will build on these stockpiles by ensuring that a certain amount of production capacity is ready to be mined when needed.
Mines with at least 3 million tons of production capacity a year can apply to be included, said the National Development and Reform Commssion (NDRC). They must be able to dispatch output when the government deems spot prices to have exceeded a “reasonable” range or when supplies are tight.
The move comes as China continues to worry about energy security after a crippling domestic coal and power shortage in 2021 and a European energy crisis last year stoked by Russia’s war on Ukraine, which sent prices of natural gas soaring.
That has prompted Beijing to boost mining of coal and accelerate approvals for new coal power plants, even though it has previously pledged to reduce coal use in the five-year plan beginning in 2026.
The new production reserve is designed to “reduce volatility in short term markets, and also provide a lever to punish speculators or price manipulators”, said David Fishman of Shanghai-based energy consultancy the Lantau Group.
China launched probes into soaring coal prices during the 2021 power shortage.
Prices on NDRC’s Bohai Rim Thermal Coal Price Index jumped from 526 yuan per ton in May 2020 to a peak of 848 yuan per ton in October 2021. However, prices have been relatively steady this year, hovering between 715 yuan and 734 yuan per ton.
The draft rules are open for public comment until Jan. 6, 2024.
Source: Reuters
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Friday, 06 September 24
REBOUND IN OIL DEMAND COULD LIFT MARKET IN LATTER HALF OF 2024 - BIMCO
Supply/demand
Based on a strong second half demand, the supply/balance is forecast to strengthen in 2024 but weaken slightly in 2025 as n ...
Friday, 06 September 24
GLOBAL SEABORNE LNG TRADE HAS CONTINUED TO INCREASE LAST YEAR - BANCHERO COSTA
Global seaborne LNG trade has continued to increase last year, helped also by the events in Ukraine which forced Europe to diversify away from Russ ...
Wednesday, 28 August 24
SEABORNE COAL IMPORTS INTO INDIA INCREASED BY +9.9% Y-O-Y TO 146.6 MLN T - BANCHERO COSTA
Global coal trade has really picked up pace over the past year, and is now fully back to pre-Covid levels said Banchero Costa Research in its lates ...
Tuesday, 06 August 24
EXERCISE CAUTION WITH AMMONIA SWITCH - BALTIC EXCHANGE
A new study from the Massachusetts Institute of Technology (MIT) has thrown a spanner into the plan to transition ships from diesel fuel to ammonia ...
Friday, 02 August 24
ENERGY MARKET DEVELOPMENTS: COAL AND NATURAL GAS PRICES REACH RECORD HIGHS - WORLD BANK
The recent surge in natural gas and coal prices has been so swift that the main benchmarks were roughly three times higher in 2022Q2 compared to a ...
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- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- White Energy Company Limited
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- MS Steel International - UAE
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Mercator Lines Limited - India
- Marubeni Corporation - India
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- Planning Commission, India
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
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