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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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- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
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- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
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- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
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- Planning Commission, India
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
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- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
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- PNOC Exploration Corporation - Philippines
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- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Australian Coal Association
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- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
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- Petron Corporation, Philippines
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- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
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- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
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- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Agrawal Coal Company - India
- The Treasury - Australian Government
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- Posco Energy - South Korea
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
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- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
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- London Commodity Brokers - England
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
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- Salva Resources Pvt Ltd - India
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