MOL announced a vessel design it calls ‘EeneX’, for a 90-type (90,000 DWT) next-generation coal carrier, developed in cooperation with Japanese shipyards. The vessel’s design aims to achieve safe, reliable and economically efficient transport of coal. MOL suggests the ‘EeneX’ brand under its concept of providing optimal, ‘stress-free’ transport service for customers and the environment.
While speaking to young Māoris and people of the Pacific islands in New Zealand, the UN Secretary-General, António Guterres highlighted four key measures that Governments should follow and prioritize to achieve the goal of carbon neutrality by 2050.
China decided to restrict its coal imports in 2019 in less than 2018’s levels. Drewry supports that this decision will dent demand for Panamaxes, but an ongoing tussle with Australia could be the silver lining. The Chinese government aims to curb the coal imports by 3-4% in 2019. This could result to a decline of approximately 10 million tonnes.
Port of Newcastle’s coal exports increased 5% during the first quarter of 2019, reaching 27.3m tonnes. Namely, March volumes rose 0.5m tonnes year on year to 9.1m tonnes, in spite of worries about customs delays that could affect exports to China. In comparison to February, March volumes were up by 0.2m tonnes. What is more, the number of ships awaiting to take delivery from the port reduced to five.
The possibility of a ban on Australian thermal coal to China got attention on the thermal coal marker in early March, because in February, five north-eastern ports in China implemented changes to clearance procedures for Australian thermal coal, as reported by Rory Simington, Principal Analyst, Asia Pacific Thermal Coal Research.
Although US coal consumption has generally declined since its 2008 peak, EIA expects that US coal exports reached 116 million short tons (MMst) in 2018, the highest level in five years, according to data collected by the US Census Bureau.
World Economic Forum discovered eight areas that are most likely to experience an advancement that result in serious impacts for the energy sector as a whole. Yet, the eight shifts could impact fossil fuel and result to its reduction. Today, due to climate change and the challenges the environment faces it is of a big importance for the industry to find solutions in additional renewables.
According to Reuters, Chinese coal traders have stopped ordering Australian coal as clearing times through China’s customs have doubled to at least 40 days, according to major buyers in China and international coal merchants, resulting in a sharp fall in Australian prices.
Gard comments on several cases, that took place recently, that involve banks claiming for misdelivery of coal cargoes at Indian ports. The misdelivery has to do with the challenges that follow when a cargo is delivered without the production of the original bills of lading.
IEA published its gas outlook concerning global markets, business models and pricing arrangements. Although the World Energy Outlook doesn’t have a forecast for what gas markets will look like in 2030 or 2040, the scenarios and analysis provide some insight into the factors that will shape where things go from here.
