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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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Monday, 08 January 24
KOSPO TO BUY 80000 MT OF INDONESIAN LOW CALORIFIC VALUE COAL FOR FEB 2024
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for the supply of Indonesian Low Calorific Value Coal from qualified suppliers for Korean ...
Monday, 08 January 24
SEABORNE TRADE REACHES 12.4BN TONNES - CLARKSONS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
Monday, 08 January 24
CAPESIZES START THE NEW YEAR ON POSITIVE NOTE - BALTIC EXCHANGE
Capesize
This week the capsize market has been marked by a mix of activities and challenges. Despite a slow start following the Christmas and N ...
Friday, 05 January 24
MORGAN STANLEY SEES LOWER OIL PRICES IN 2024 ON OVERSUPPLY CONCERNS - REUTERS
Morgan Stanley sees Brent crude prices anchored near $80 per barrel in the first half in 2024 before declining towards the end of the year as it ex ...
Friday, 05 January 24
INDIA'S COAL OUTPUT RISES NEARLY 11 PC IN DEC TO 92.87 MT - PTI
India’s coal production increased by 10.75 per cent to 92.87 million tonne in December 2023 as compared to the year-ago period, an official s ...
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- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- Australian Coal Association
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Indogreen Group - Indonesia
- White Energy Company Limited
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
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