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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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Thursday, 25 January 24
THE RED SEA ESCALATION IMPLICATIONS ON GLOBAL SEABORNE TRADE - MARIA BERTZELETOU
In recent days, discussions have intensified about the potential impact on the seaborne trade and ton-miles due to the evolving dynamics of market ...
Thursday, 25 January 24
RED SEA SHIPPING DISRUPTIONS KEEP GEOPOLITICAL PREMIUM FOR COMMODITIES - FITCH RATINGS
Shipping disruptions and re-routing away from the Red Sea will maintain the geopolitical premium in the main commodity markets, including for oil a ...
Friday, 19 January 24
INDONESIA TARGETS 710 MLN METRIC TONS COAL OUTPUT IN 2024 AFTER RECORD 2023 - REUTERS
Indonesia, a major thermal coal exporter, aims to produce 710 million metric tons of coal in 2024, its mining minister said on Monday, after postin ...
Friday, 19 January 24
DRUMMOND COLOMBIA COAL OUTPUT ROSE 7.1% IN 2023 - REUTERS
Coal production from miner Drummond’s Colombia operations rose 7.1% in 2023 to 29.5 million metric tons, while exports declined by 2.6% to 27 ...
Friday, 19 January 24
CHINA'S 2023 COAL OUTPUT HITS RECORD HIGH - REUTERS
China’s coal output reached a record high in 2023, data from the statistics bureau showed on Wednesday, amid an ongoing focus on energy secur ...
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- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Economic Council, Georgia
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
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