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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 year earlier. European natural gas and South African coal prices reached all-time highs in March and April, while U.S. natural gas prices reached their highest level since 2008. The surge in prices partly reflects the impact of the Russian invasion of Ukraine; in 2020, Russia accounted for one-quarter of global exports of natural gas and just under one-fifth of coal exports. Beyond the impact of the war, demand for natural gas and coal has been robust, rising by about 5 and 6 percent, respectively, in 2021 amid a strong post-pandemic recovery, with both reaching record highs.
The war in Ukraine is disrupting trade in energy. Europe relies heavily on Russia for imports of natural gas and coal. In response to the war, the European Union imposed a ban on imports of Russian coal starting in August 2022 and has pledged to reduce imports of Russian gas by two-thirds by the end of the year. While some of Russia’s coal can be redirected to other countries, this will be costly as coal is bulky and expensive to transport. Redirection of natural gas is even more limited due to a lack of transportation infrastructure — 70% of Russia’s exports to Europe are by pipeline.
EU turns to alternative LNG suppliers. The EU has sharply increased its imports of liquefied natural gas (LNG) to rebuild depleted inventories and diversify its suppliers. Inventories have risen rapidly in the last few months, although they remain slightly below the five-year average. In addition, EU countries are investing in additional infrastructure to facilitate LNG trade, such as new terminals, and the EU has also announced plans to sharply increase renewable energy capacity. Energy policies in Europe, however, have large spillover effects on other countries. For example, the sharp increase in EU imports of LNG has forced other countries that rely on LNG, notably emerging markets in Asia, to turn to coal.
Amid high prices, U.S. exports of LNG soar. The United States exported 11.5 billion cubic meters per day in the first half of 2022, a record high and equal to 12% of its domestic production. U.S exports to the EU and the United Kingdom have more than tripled compared to last year, such that Europe accounted for about three-quarters of U.S. LNG exports in the first half of 2022. The increase in U.S. LNG exports reflects the high spot prices of European natural gas compared to both the U.S. and Asia prices. U.S. LNG exports have recently declined, however, due to an explosion at a major LNG terminal. This disruption to supplies is expected to last until October.
Coal production rises amid high prices and shortages. Although global coal production increased by nearly 6% in 2021, coal shortages in China and India led to policies aimed at increasing domestic production. Because the coal (and natural gas) shortages have persisted, additional policy measures were introduced earlier this year. India, for example, announced plans to reopen 100 coal mines that had previously been considered uneconomic.
Risks to the natural gas and coal outlook. After a projected sharp increase in 2022, natural gas and coal prices are expected to moderately decline in 2023, although they will remain much higher than their five-year average. The duration of the Russia-Ukraine conflict and the extent of its disruption to trade in coal and natural gas are the biggest uncertainties facing the outlook for the market. A sharp reduction in Russia’s exports to the EU, for example, could cause prices to spike, particularly if it occurred during the winter period when demand is high. Exports of natural gas from Russia to Europe have already fallen due to maintenance and other technical issues with the Nord Stream 1 pipeline. Prices also remain vulnerable to weather-related conditions and import policies that can affect trade patterns and push up costs. This is particularly the case given the very limited global spare production capacity for natural gas.
By Peter Nagle & Kaltrina Temaj
World Bank
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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
COAL MARKET DEVELOPMENTS: FALLING PRICES AMID RECORD-HIGH OUTPUT - WORLD BANK
Coal prices inched up in May (m/m) following an 8 percent decline in 2024Q1. The Australian and South African benchmarks have plummeted more ...
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- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
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