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