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Friday, 29 July 22
GLOBAL COAL DEMAND IS SET TO RETURN TO ITS ALL-TIME HIGH IN 2022 - IEA
 The world’s consumption of coal is set to rise slightly in 2022, taking it back to the record level it reached nearly a decade ago, according to an IEA report published today, which notes that significant uncertainty hangs over the outlook for coal as a result of slowing economic growth and energy market turbulence.
Based on current economic and market trends, global coal consumption is forecast to rise by 0.7% in 2022 to 8 billion tonnes, assuming the Chinese economy recovers as expected in the second half of the year, the IEA’s July 2022 Coal Market Update says. This global total would match the annual record set in 2013, and coal demand is likely to increase further next year to a new all-time high.
The new report highlights the significant turmoil in coal markets in recent months, which has important implications for many countries where coal remains a key fuel for electricity generation and a range of industrial processes. At the same time, the world’s continued burning of large amounts of coal is heightening climate concerns, as coal is the largest single source of energy-related CO2 emissions.
Worldwide coal consumption rebounded by about 6% in 2021 as the global economy recovered rapidly from the initial shock of the Covid pandemic. That sharp rise contributed significantly to the largest ever annual increase in global energy-related CO2 emissions in absolute terms, putting them at their highest level in history.
Global coal demand is being propped up this year by rising natural gas prices, which have intensified gas-to-coal switching in many countries, as well as economic growth in India. Those factors are being partly offset by slowing economic growth in China and by the inability of some major coal producers to ramp up production.
Demand for coal in India has been strong since the start of 2022 and is expected to rise by 7% for the full year as the country’s economy grows and the use of electricity expands. In China, coal demand is estimated to have declined by 3% in the first half of 2022 as renewed Covid lockdowns in some cities slowed economic growth, but an expected increase in the second half of the year is likely to bring coal consumption for the full year back to the same levels as last year. China and India together consume double the amount of coal as the rest of the world combined, with China alone accounting for more than half the world’s demand.
Coal consumption in the European Union is expected to rise by 7% in 2022 on top of last year’s 14% jump. This is being driven by demand from the electricity sector where coal is increasingly being used to replace gas, which is in short supply and has experienced huge price spikes following Russia’s invasion of Ukraine. Several EU countries are extending the life of coal plants scheduled for closure, reopening closed plants or raising caps on their operating hours to reduce gas consumption. However, Europe only accounts for about 5% of global coal consumption.
As soaring natural gas prices have made coal more competitive in many markets, international coal prices have risen in turn, hitting three all-time peaks between October 2021 and May 2022. Sanctions and bans on Russian coal following Russia’s invasion of Ukraine have disrupted markets, and issues in other major exporters have contributed to supply shortages. With other coal producers facing constraints in replacing Russian output, prices on coal futures markets indicate that tight market conditions are expected to continue well into next year and beyond.
Source: IEA
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Friday, 06 March 20
SOLID BACKING FOR LNG AS A MARINE FUEL - BALTIC EXCHANGE
When it comes to choosing the best fuel on the near horizon to help the international shipping industry shrink its carbon intensity by 2050, DNV GL ...
Friday, 06 March 20
INDONESIA COAL PRICE REFERENCE UP AGAIN THIS MONTH
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised up the benchmark price of Indonesian thermal co ...
Thursday, 05 March 20
PANAMAX: SHIP-OWNERS HAVE MOSTLY BEEN GETTING HIGHER RATES THAN THE LAST DONE - FEARNLEYS
Cape
There is still limited amount of positive news around, with the effects of Corona virus hurting world economy. However, overall average in ...
Thursday, 05 March 20
COAL IMPORTS DOWN IN MAJOR ASIAN MARKETS, AND CORONAVIRUS NOT THE DRIVING FORCE - CLYDE RUSSELL
Asia’s seaborne coal markets stumbled in February and it appears the coronavirus outbreak in China may dodge most of the blame, with the weak ...
Thursday, 05 March 20
SEABORNE COAL'S STRUGGLES IN ASIA ARE MORE THAN JUST CHINA CORONAVIRUS - REUTERS
Asia’s seaborne coal markets stumbled in February and it appears the coronavirus outbreak in China may dodge most of the blame, with the weak ...
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- PTC India Limited - India
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
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- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Economic Council, Georgia
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- Global Green Power PLC Corporation, Philippines
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- Price Waterhouse Coopers - Russia
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- Ministry of Transport, Egypt
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- Bulk Trading Sa - Switzerland
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- The State Trading Corporation of India Ltd
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- Petron Corporation, Philippines
- Indogreen Group - Indonesia
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- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
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- Ceylon Electricity Board - Sri Lanka
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- Altura Mining Limited, Indonesia
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- Kaltim Prima Coal - Indonesia
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- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
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- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Minerals Council of Australia
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- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
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- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
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- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
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- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
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- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
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- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- White Energy Company Limited
- VISA Power Limited - India
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
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- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
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