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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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Monday, 12 February 24
US THERMAL COAL EXPORTS HIT 5-YEAR HIGHS AND TOP $5 BLN IN 2023 - REUTERS
United States exporters of thermal coal earned more than $5 billion in 2023 as they shipped out more than 32.5 million metric tons of the high-poll ...
Tuesday, 06 February 24
NEW E-FUELS PROJECT TO MAKE INTERNATIONAL SHIPPING CLIMATE-NEUTRAL - RINA
Transport and trade on the ocean blue must be made much greener. This is the goal of the new €17 million European GAMMA project, where compani ...
Tuesday, 06 February 24
INDIA SEES ANNUAL COAL OUTPUT UP 10.9% IN 2024/25 - REUTERS
India expects domestic coal output to increase by 10.9% to 1.13 billion metric tons in the fiscal year ending March 2025, a senior government offic ...
Tuesday, 06 February 24
INDIA'S COAL PRODUCTION INCREASES BY 10.3% TO 99.73 MILLION TONNE IN JANUARY - PTI
The country’s coal output rose 10.3 per cent to 99.73 Million Tonne (MT) in January, over the same month in the previous fiscal.
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Friday, 02 February 24
DRY BULK MARKET: THE DOWNWARD REVISION IN THE GROWTH OF CAPESIZE TONNE DAYS IN JANUARY WITH THE BCI DROPPING - MARIA BERTZELETOU
In the last week of January, the dry freight market sustained weakness in the Capesize segment, while the number of ballasters in the Southeast (SE ...
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- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Economic Council, Georgia
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
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