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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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- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Planning Commission, India
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- The University of Queensland
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
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