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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, 23 May 23
CHINA COAL OUTPUT UP 4.5 PCT IN APRIL - XINHUA
China’s raw coal output posted stable expansion in April, official data showed.
The country produced 380 million tonnes of raw ...
Saturday, 20 May 23
NON-OPEC OIL SUPPLY DEVELOPMENT - OPEC
In 2022, non-OPEC supply is estimated to have increased by 1.9 mb/d y-o-y. Out of this, US liquids production increased by 1.2 mb/d, mainly on the ...
Saturday, 20 May 23
GLOBAL COAL TRADE HAS REALLY PICKED UP PACE IN RECENT MONTHS, NOW FULLY BACK TO PRE-COVID LEVELS - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels. In Jan-Apr 2023, total global seaborne coa ...
Saturday, 20 May 23
MARKET INSIGHT - INTERMODAL
India is one of the world's largest coal producers and one of the world's largest importers of coal. The country uses coal mainly for power ...
Sunday, 16 April 23
CHINA JUGGLES FOUR MAJOR ECONOMIC CHANGES IN 2023 - WOOD MACKENZIE
Change is afoot in China. Economic growth is slowing, while rising political tensions between China and the US, coupled with global supply chain re ...
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- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Minerals Council of Australia
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- PTC India Limited - India
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- White Energy Company Limited
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Parliament of New Zealand
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
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