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