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