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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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Wednesday, 31 January 24
CHINA'S INNER MONGOLIA COAL OUTPUT HIT 1.21B TONS IN 2023 - XINHUA
North China’s Inner Mongolia autonomous region churned out 1.21 billion tons of coal in 2023 as it strives to guarantee the country’s e ...
Wednesday, 31 January 24
GAS EXPORTS COST U.S. CONSUMERS MORE THAN $100 BILLION OVER 16-MONTH PERIOD - IEEFA
Limited Demand Growth Could Dampen the Dry Bulk Market in the Coming Months BIMCOStarting in late 2021—before its invasion of Ukraine—R ...
Tuesday, 30 January 24
LIMITED DEMAND GROWTH COULD DAMPEN THE DRY BULK MARKET IN THE COMING MONTHS - BIMCO
Demand
In our base scenario, we expect cargo demand to grow by 0-1% in 2024 and 0.5-1.5% in 2025. This is a 0.5 percentage point reduction for ...
Friday, 26 January 24
RED SEA DIVERSIONS ADD NEARLY A MILLION DOLLARS PER VOYAGE TO SHIPPING COSTS WHILE DOUBLING TRANSIT TIME - LSEG
The incremental costs of diverting a tanker from Asia to NW Europe via the Cape of Good Hope is accounting for an extra $932,905 USD per voyage whi ...
Friday, 26 January 24
HARD COAL GUARDIAN ANGEL OF THE ENERGY SUPPLY - GERMANY COAL IMPORTERS ASSOCIATION
- No security of supply without hard coal
- The Substitute Power Plant Provision Act (EKBG) must be extended
- Higher grid fees due to the ...
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- Wilmar Investment Holdings
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- The University of Queensland
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
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