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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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Sunday, 10 September 23
CHINA AUGUST COAL IMPORTS OF 44.3 MLN T HIT RECORD - REUTERS
China, the world’s top coal consumer, imported 44.3 million metric tons of the fuel last month, customs data showed, the highest amount in an ...
Tuesday, 22 August 23
CHINA'S COAL PRODUCTION LOGS STEADY GROWTH IN JANUARY-JULY: XINHUA
China’s output of raw coal went up 3.6 percent year on year in the first seven months of this year, official data showed.
The ...
Sunday, 13 August 23
THE COMMODITIES FEED: LNG SUPPLY RISKS LINGER - ING
Energy – OPEC sees deficit over remainder of 2023
Oil prices came under some pressure yesterday with ICE Brent settling a litt ...
Sunday, 23 July 23
ANALYSIS-INDIA'S COAL MINING BET STUMBLES AS WARY BANKS WEIGH RISING RISKS - REUTERS
India’s drive to ramp up coal output to meet growing energy demand is faltering due to banks’ reluctance to finance newly auctioned min ...
Monday, 17 July 23
APPROVED AMMONIA-FUELED CONTAINERSHIP - BENEFITS AND RISKS: REED SMITH
Following the news in Offshore Energy that Korea Maritime Consultants has secured approval in principle from the American Bureau of Shipping for it ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
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- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Georgia Ports Authority, United States
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- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- The University of Queensland
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
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