Coal news and updates

Cost of carbon: How Europe’s demand for coal impacts the market

Asia's PT Adaro Energy Indonesia Tbk (ADOOY) is among the companies now shipping coal to Europe as the bloc scrambles to replace Russian energy commodities following its invasion in Ukraine

In a statement on its website, the company said it had shipped roughly 300,000 tonnes of coal to some buyers in the bloc. However, it said Japan, China, South Korea and India are also among its biggest buyers and will remain Adaro priorities.

Soaring price of commodities

The demand since the war started has seen coal prices surge – and also meant Adaro has profited, posting record high exports in March.

The EU depends on Russia for around 45% of its coal imports, 45% of its natural gas imports – and around 25% of its oil imports, according to the European Commission.

There is certainly a lot of demand for the commodities to bridge the gap, putting further pressure, as we have seen, on the price of buying them – with oil and natural gas markets also remaining volatile.

Oil markets stabilised on Tuesday, however, with Brent and WTI crude trading in the green. This comes after prices plunged in afternoon trade on Monday as investors watched US interest rates and the impact of Covid-19 lockdowns, particularly in China.