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Monday, 21 December 20
A REBOUND IN GLOBAL COAL DEMAND IN 2021 IS SET TO BE SHORT-LIVED, BUT NO IMMEDIATE DECLINE IN SIGHT - IEA
 After a major drop in recent years, global coal demand is forecast to rise by 2.6% in 2021 before flattening out to 2025
A global economic recovery in 2021 is expected to drive a short-lived rebound in coal demand following the major drop this year triggered by the Covid-19 crisis, according to a new report from the International Energy Agency.
However, there is little sign that the world’s coal consumption is set to decline substantially in the coming years, with rising demand in some Asian economies offsetting declines elsewhere. As coal is by far the single largest source of global energy-related carbon emissions, the trends outlined in the report pose a major challenge to efforts to put those emissions on a path compatible with reaching climate and sustainable energy goals.
The past two years have seen historic falls in global coal demand, led by unprecedented drops in the United States and Europe, says Coal 2020, the latest edition of the IEA’s annual market report on the sector. A 1.8% decline in coal demand in 2019 resulted mainly from weak growth in electricity demand and low natural gas prices. Latest estimates from the IEA suggest coal demand will have plunged by a further 5% in 2020 on the economic fallout from Covid-19.
“The Covid-19 crisis has completely reshaped global coal markets. Before the pandemic, we expected a small rebound in coal demand in 2020, but we have since witnessed the largest drop in coal consumption since the Second World War,” said Keisuke Sadamori, the IEA’s Director of Energy Markets and Security. “The decline would have been even steeper without the strong economic rebound in China – the world’s largest coal consumer – in the second half of the year.”
Based on the assumption of a recovery in the world economy, the IEA report forecasts a 2.6% rise in global coal demand in 2021, driven by higher electricity demand and industrial output. China, India and Southeast Asian economies account for most of the growth, although the United States and Europe may also both see their first increases in coal consumption in nearly a decade. However, global coal demand in 2021 is still forecast to remain below 2019 levels and could be even lower if the report’s assumptions for the economic recovery, electricity demand or natural gas prices are not met.
The rebound in coal demand in 2021 is set to be short-lived, with coal use forecast to flatten out by 2025 at around 7.4 billion tonnes. This would make 2013, when global coal demand reached 8 billion tonnes, coal’s all-time peak. But while coal’s share in both the electricity mix and the overall energy mix are in steady decline, coal use in absolute terms is not set for a rapid decline in the immediate future.
“Renewables are on track to surpass coal as the largest source of electricity in the world by 2025. And by that time, natural gas will likely have taken over coal as the second largest source of primary energy after oil,” said Mr Sadamori. “But with coal demand still expected to remain steady or to grow in key Asian economies, there is no sign that coal is going to fade away quickly.”
The future of coal will largely be decided in Asia. Today, China and India account for 65% of global coal demand. With Japan, Korea, Taiwan and Southeast Asia included, that share rises to 75%. China, which currently accounts for half of the world’s coal consumption, will be especially influential. By 2025, the European Union and United States will account for less than 10% of global coal demand, down from 37% in 2000. This will make the impacts of any further changes in demand in these markets very limited.
Source: IEA - Press Release
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Sunday, 13 December 20
LONGSTANDING DOWNSIDE RISKS TO TRADE OUTLOOK - BALTIC EXCHANGE
The OECD has attempted to put a positive spin on the trade message emanating from its latest economic outlook, released last week.
The ...
Sunday, 13 December 20
INDONESIA COAL OUTPUT AT 514 MILLION TONNES THIS YEAR, 2021 TARGET UNCHANGED - REUTERS
Indonesia coal output in the period to Dec. 10 stood at 514.2 million tonnes, official data from the energy ministry’s website showed.
&n ...
Thursday, 10 December 20
MALAYSIA'S CIMB ANNOUNCES COAL FINANCING PHASE-OUT BY 2040 AS ASIA'S FOSSIL FUEL DIVESTMENT DRIVE ACCELERATES - IEEFA
The first emerging markets bank to announce a progressive coal exit policy
Malaysia’s CIMB Group Holdings (CIMB) has announced ...
Wednesday, 09 December 20
MARKET INSIGHT - INTERMODAL
Heading towards the end of a difficult year and with the entire planet under the shadow of the covid-19 virus, it is interesting to proceed with a ...
Tuesday, 08 December 20
MARKET ANALYSIS - ALLIED SHIPPING
It is now undisputed that oil consumption for 2020 will post a considerable drop, as demand for several petroleum products has plummeted since the ...
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- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Planning Commission, India
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
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