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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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Tuesday, 14 November 23
CHINA'S BELT AND ROAD INITIATIVE TURNS AWAY FROM COAL - WOOD MACKENZIE
Ambitious, contentious and big spending, China’s Belt and Road Initiative (BRI) is 10 years old. In that time, China has splashed more than U ...
Friday, 10 November 23
THE COMMODITIES FEED: OIL UNDER PRESSURE - ING
Energy – Brent plummets
The oil market came under significant pressure yesterday. ICE Brent settled 4.19% lower on the day and ...
Friday, 10 November 23
COAL USE AT U.S. POWER PLANTS CONTINUES DOWNWARD SPIRAL; FULL IMPACT ON MINES TO BE FELT IN 2024 - IEEFA
This year, the use of coal by the U.S.’s power producers has been so anemic that the fuel has not achieved a 20% market share in any month so ...
Friday, 10 November 23
INDIA: NATIONAL COAL INDEX RISES 3.83 POINTS IN SEPTEMBER AMID HIGHER DEMAND - LIVEMINT
The National Coal Index (NCI) rose 3.83 points to 143.91 in September amid growing demand for coal.
The union coal ministry on Tuesd ...
Thursday, 09 November 23
WE'RE PRODUCING TOO MUCH COAL, OIL AND GAS, REPORT SAYS - WSJ
World leaders pledged in 2015 to reduce emissions in a combined effort to limit climate change.
Now they are stepping up production ...
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- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- The University of Queensland
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Minerals Council of Australia
- Vedanta Resources Plc - India
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