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Wednesday, 09 August 23
COAL TRADE TO RETURN TO 2019 LEVELS - BALTIC EXCHANGE
The International Energy Agency’s mid-year Coal Market Update for 2023 brings both positive and concerning news for the global coal industry. After a tumultuous few years marked by the Covid-19 shock in 2020 and the turmoil caused by Russia’s invasion of Ukraine in 2022, the coal markets have returned to more predictable and stable patterns in 2023. Notably, coal trade is heading back to 2019 volumes, with Chinese imports leading the charge.
One significant factor contributing to the surge in coal imports is the decline in coal prices. Cheaper coal has made imports more attractive, especially for price-sensitive buyers. China, the world’s largest coal consumer and producer, has almost doubled its imports in the first half of 2023. As a result, global coal trade is projected to grow by more than 7%, outpacing overall demand growth and approaching record levels seen in 2019. Seaborne coal trade may even surpass the 2019 record of 1.3 billion tonnes.
Another reason for the upward trajectory in coal supply is the stronger financial position of coal mining companies. Despite no new large-scale projects coming online, the high prices in 2022 have left these companies with more robust balance sheets, allowing them to invest in sustaining and even expanding capital expenditures. Additionally, the end of La Niña, which hampered coal production in Australia, has bolstered the coal supply outlook for 2023, despite the retreat of coal prices from their peak.
Renewed demand
The demand side of the equation is also playing a vital role in the resurgence of coal trade.
Even the European Union, traditionally a coal importer, temporarily turned into an exporter of thermal coal due to ample inventories accumulated during the previous year and reduced coal-fired power generation.
Global coal consumption reached an all-time high in 2022 and is expected to remain near that record level in 2023. Asia, led by China, India, and Southeast Asian countries, is expected to account for a significant portion of coal consumption. China and India together are projected to use almost 75% of the world’s coal in 2023, further solidifying their dominance in the market.
Despite the positive developments in the coal industry, concerns remain regarding the environmental impact of coal usage. Coal remains the largest single source of carbon emissions from the energy sector, and while clean energy has put coal use into structural decline in Europe and the United States, demand remains stubbornly high in Asia.
To address this, the IEA emphasises the need for greater policy efforts, investments, and stronger international cooperation to drive a massive surge in clean energy and energy efficiency to reduce coal demand in rapidly growing economies.
“But demand remains stubbornly high in Asia, even as many of those economies have significantly ramped up renewable energy sources. We need greater policy efforts and investments – backed by stronger international cooperation – to drive a massive surge in clean energy and energy efficiency to reduce coal demand in economies where energy needs are growing fast.”
Forward look
The mid-year Coal Market Update also provides insights into the future of the coal industry. Global coal demand is projected to remain flat in 2024, with declines in the electricity sector offset by small increases in the industrial sector as economic conditions improve. Asia, particularly India and Southeast Asia, is expected to experience growth in coal demand, while the United States and the European Union will see further declines. China and India are set to continue dominating the global coal consumption landscape, accounting for more than half of the world’s coal use.
Source: Baltic Exchange
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Friday, 06 September 24
REBOUND IN OIL DEMAND COULD LIFT MARKET IN LATTER HALF OF 2024 - BIMCO
Supply/demand
Based on a strong second half demand, the supply/balance is forecast to strengthen in 2024 but weaken slightly in 2025 as n ...
Friday, 06 September 24
GLOBAL SEABORNE LNG TRADE HAS CONTINUED TO INCREASE LAST YEAR - BANCHERO COSTA
Global seaborne LNG trade has continued to increase last year, helped also by the events in Ukraine which forced Europe to diversify away from Russ ...
Wednesday, 28 August 24
SEABORNE COAL IMPORTS INTO INDIA INCREASED BY +9.9% Y-O-Y TO 146.6 MLN T - BANCHERO COSTA
Global coal trade has really picked up pace over the past year, and is now fully back to pre-Covid levels said Banchero Costa Research in its lates ...
Tuesday, 06 August 24
EXERCISE CAUTION WITH AMMONIA SWITCH - BALTIC EXCHANGE
A new study from the Massachusetts Institute of Technology (MIT) has thrown a spanner into the plan to transition ships from diesel fuel to ammonia ...
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 ...
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- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Independent Power Producers Association of India
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
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