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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, 19 June 23
DROUGHT-DEPLETED HYDROPOWER DRIVES CHINA TO TURN TO COAL - REUTERS
China has leant hard on coal-fired power plants as well as wind and solar generators to make up for a shortfall in hydroelectric generation as a re ...
Monday, 19 June 23
CHINA COAL OUTPUT UP 4.2 PCT IN MAY - XINHUA
China’s raw coal output posted steady growth in May, official data showed.
The country produced 390 million tonnes of raw coal ...
Wednesday, 24 May 23
AMMONIA-FUELLED BULK CARRIERS WITHIN FIVE YEARS - BALTIC EXCHANGE
Within five years, ships powered by clean ammonia could be a feature on the iron ore trade routes between West Australia and East Asia.
A study ...
Tuesday, 23 May 23
CHINA'S APRIL COAL OUTPUT LEAPS 11% ON YEAR, BUT DEMAND DOWNTURN LOOMS - REUTERS
China’s daily coal output in April jumped 11% from the same month a year earlier, boosted by Beijing’s order to increase supply to ensu ...
Tuesday, 23 May 23
INDIA: COAL OUTPUT UP 8.9%, SUPPLY RISES 11.7% IN APRIL - FINANCIAL EXPRESS
India’s coal production jumped 8.85% to 73.14 million tonne (MT) in April 2023 and the total coal despatch during the month went up 11.66% to ...
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- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
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