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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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Wednesday, 31 January 24
GAS EXPORTS COST U.S. CONSUMERS MORE THAN $100 BILLION OVER 16-MONTH PERIOD - IEEFA
Limited Demand Growth Could Dampen the Dry Bulk Market in the Coming Months BIMCOStarting in late 2021—before its invasion of Ukraine—R ...
Tuesday, 30 January 24
LIMITED DEMAND GROWTH COULD DAMPEN THE DRY BULK MARKET IN THE COMING MONTHS - BIMCO
Demand
In our base scenario, we expect cargo demand to grow by 0-1% in 2024 and 0.5-1.5% in 2025. This is a 0.5 percentage point reduction for ...
Friday, 26 January 24
RED SEA DIVERSIONS ADD NEARLY A MILLION DOLLARS PER VOYAGE TO SHIPPING COSTS WHILE DOUBLING TRANSIT TIME - LSEG
The incremental costs of diverting a tanker from Asia to NW Europe via the Cape of Good Hope is accounting for an extra $932,905 USD per voyage whi ...
Friday, 26 January 24
HARD COAL GUARDIAN ANGEL OF THE ENERGY SUPPLY - GERMANY COAL IMPORTERS ASSOCIATION
- No security of supply without hard coal
- The Substitute Power Plant Provision Act (EKBG) must be extended
- Higher grid fees due to the ...
Thursday, 25 January 24
THE RED SEA ESCALATION IMPLICATIONS ON GLOBAL SEABORNE TRADE - MARIA BERTZELETOU
In recent days, discussions have intensified about the potential impact on the seaborne trade and ton-miles due to the evolving dynamics of market ...
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- PTC India Limited - India
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Marubeni Corporation - India
- The University of Queensland
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
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