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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, 05 January 24
BANGLADESH’S 2023 COAL-FIRED POWER OUTPUT TRIPLED, EASING SHORTAGES - REUTERS
Bangladesh nearly tripled its coal-fired power output in 2023, a Reuters analysis of government data showed, helping it tide over the worst power s ...
Tuesday, 02 January 24
COAL TRADE CONTINUES TO HEAD EAST - BALTIC EXCHANGE
The global coal trade, once concentrated in the Pacific and Atlantic basins, is undergoing a significant transformation, as highlighted in the Inte ...
Tuesday, 02 January 24
COAL CARGOES: AVOIDING EXPLOSION AND SELF-HEATING - GARD
KNOWLEDGE TO ELEVATE
Despite its contribution to greenhouse gas emissions, global coal consumption climbed to an all-time high in 2022 and is ...
Tuesday, 02 January 24
SINOPEC FORECASTS CHINA’S COAL CONSUMPTION TO PEAK AROUND 2025 - REUTERS
China Petrochemical Corp, or Sinopec, expects coal consumption to peak around 2025 at 4.37 billion metric tons, the state energy group said in an o ...
Thursday, 07 December 23
CHINA TO SET UP COAL PRODUCTION RESERVE TO STABILISE PRICES - REUTERS
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 ...
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- Thai Mozambique Logistica
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- The University of Queensland
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
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- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
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- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
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- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Ministry of Transport, Egypt
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- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
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- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
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- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
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- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
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- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
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- Petron Corporation, Philippines
- Romanian Commodities Exchange
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- Economic Council, Georgia
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- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- Australian Coal Association
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
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