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