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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, 26 July 24
FUELEU MARITME IS COMING. IS YOUR CHARTERPARTY READY? - GARD
With less than six months to implementation of FuelEU Maritime in EU and EEA trades, there has been little published advice regarding how to alloca ...
Thursday, 04 July 24
INDIA'S COAL PRODUCTION RISES 14% IN JUNE - PTI
The country’s coal production rose by 14.49% to 84.63 million tonne (MT) in June. The country’s coal output was 73.92 MT in June last f ...
Tuesday, 02 July 24
NTPC CAPTIVE COAL OUTPUT GROWS 15% IN Q1; DESPATCH RISES 17%
State-owned NTPC on Monday reported a 15 per cent year-on-year increase in the production of coal from captives mines to 9.862 metric million tonne ...
Friday, 28 June 24
KOSPO INVITED BIDS FOR 400,000 MT OF MINIMUM 4000 NCV COAL FOR FIVE YEARS
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for total 400,000 MT of Low Calorific Value Coal for 5 years starting from July 2024 until ...
Friday, 28 June 24
INDIAN POWER STATIONS STOCKED WITH BUMPER COAL SUPPLY AS TRANSPORT WOES EASE - BUSINESS STANDARD
Even as power demand has touched a historic high of 250 gigawatts (Gw) amid sweltering heat this June, India’s power stations are stocked wit ...
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- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Planning Commission, India
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Australian Coal Association
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
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