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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, 23 February 24
AUSTRALIAN COAL FLOWS TO ASIA HOVER ABOVE LAST YEAR’S VOLUME TONNES - SIGNAL GROUP
In the final days of February, the dry bulk freight market appeared to maintain a relatively stable momentum, particularly evident in the large ves ...
Friday, 23 February 24
RUSSIAN COAL SHIPMENTS FALL 14% AS SANCTIONS BITE - BIMCO
During the first seven weeks of 2024, Russian coal shipments have fallen 14% y/y. Volumes have gradually declined since October 2023 when logistica ...
Thursday, 22 February 24
BIMCO PUBLISHES SHIP FINANCING FORMS TO ENSURE UNINTERRUPTED USE OF SHIPS
BIMCO has published two standard Quiet Enjoyment Letters (QELs), the first standard form QELs available to the industry, to offer a tool that can e ...
Monday, 19 February 24
METALS INVESTMENT: THE DARKEST HOUR IS JUST BEFORE THE DAWN - WOOD MACKENZIE
Things often seem at their worst just before they get better. In terms of meeting our net zero 2050 scenario, we’ve reached a watershed momen ...
Tuesday, 13 February 24
WHAT IS THE OUTLOOK FOR THE NATURAL GAS SPOT PRICE IN 2024 AND 2025? EIA
We expect the U.S. benchmark Henry Hub natural gas spot price to average higher in 2024 and 2025 than in 2023, but to remain lower than $3.00 per m ...
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Showing 31 to 35 news of total 6871 |
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- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- White Energy Company Limited
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- VISA Power Limited - India
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- Economic Council, Georgia
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
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