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