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